Gatehub’s issued tokens
Gatehub has issued several tokens. How do they work?
GateHub is a payment gateway platform that allows you to trade and store digital currency.
For more information, you can visit their site here:
Gatehub has currently issued 16 different tokens on the XRPL, including USDT, USDC, GALA, WXRP, Flare and SGB.
The tokens that Gatehub has issued on the XRPL are pegged to the actual asset.
For example, if you hold a Gatehub issued SGB token on the XRPL, you can exchange it 1:1 into “real” SGB. This means that you can trade SGB on the XRPL. The same applies to Flare, USDC, USDT, GALA and all the other tokens Gatehub has issued.
In the case of USDC and USDT, these two tokens now allow you to trade stable coins on the XRP Ledger. You can on ramp fiat to one of these stable coins on the Ethereum network, convert it to USDC or USDT via Gatehub on the XRPL and then use the stable coin on the XRP Ledger.
All of these tokens can be traded on the DEX so you can take advantage of the XRPL’s speed and super cheap fees. Imagine being able to make trades on the Ethereum network that can complete in under 5 seconds at the cost of under 1 penny. With these issued tokens, you can do this on the XRPL, even though the native asset is on a different blockchain.
You get all the advantages of the XRP Ledger with these tokens. Speed, reliability, the DEX, the low fees and of course, you can manage them all with Xumm!
In September 2021, Flare Networks launched a proprietary canary network called Songbird. They issued 15 Billion SGB tokens on the Songbird network.
On October 11-2021, Gatehub issued 1,594,2003 SGB tokens on the XRP Ledger.
While they both have the same symbol, SGB, they exist on different and incompatible networks.
You can not send an XRPL token directly to the Songbird network and you can not send a Songbird token directly to the XRP Ledger. They are different tokens issued on different blockchains.
Gatehub will allow you to redeem SGB tokens issued on the XRPL for SGB issued on the Songbird network and vice versa.
USD Tether and USD Coin are stablecoins issued on the Ethereum network using the ERC-20 standard and are back by USD fiat currency.
On February 12-2022, Gatehub issued 500,000 USDC tokens and 499,998 USDT tokens on the XRP Ledger.
Just like the SGB token discussed above, both the USDC and USDT tokens issued on the Ethereum blockchain are not compatible with the XRPL. While they share the same symbols as their XRPL counterparts, they exist on different and incompatible networks.
You can not send an XRPL token directly to the Ethereum network and you can not send an Ethereum token directly to the XRP Ledger. They are different tokens issued on different blockchains.
Gatehub will allow you to redeem USDT and USDC tokens issued on the XRPL for USDC and USDT tokens issued on the Ethereum network and vice versa.
As you might have guessed by now, the same applies to GALA and WXRP.
WXRP is wrapped XRP that can be used on the Ethereum network and the GALA token is the main cryptocurrency used in the Gala Games Ecosystem. Both were issued on the Ethereum network using the ERC-20 standard
On February 12-2022, Gatehub issued 1,000,000 GALA tokens and 500,000 WXRP tokens on the XRP Ledger.
Both the GALA and WXRP tokens issued on the Ethereum blockchain are not compatible with the XRPL. While they share the same symbols as their XRPL counterparts, they exist on different and incompatible networks.
You can not send an XRPL token directly to the Ethereum network and you can not send an Ethereum token directly to the XRP Ledger. They are different tokens issued on different blockchains.
Gatehub will allow you to redeem GALA and WXRP tokens issued on the XRPL for GALA and WXRP tokens issued on the Ethereum network and vice versa.
You need to visit Gatehub and create an account with them. Once you have done that, you can send your funds to their platform and convert them to their XRPL equivalent.
For more information about the process, you can contact Gatehub support at:
If you have purchased any of the tokens issued by Gatehub on the XRP Ledger and you are interested in “cashing out” or converting them to their counter part on another network, you need to visit Gatehub and create an account on their platform. Once you have done that, you can send your tokens from Xumm to your account with them and Gatehub will convert them there.
For more information about this process, you can contact Gatehub support at:
There are three questions that need to be answered:
- 1.Does your exchange support the XRP Ledger?
- 2.If the answer is yes, which tokens on the XRPL does your exchange support?
- 3.What criteria did your exchange use to determine which tokens to support?
When it comes to any token issued on the XRP Ledger, it all comes down to trust.
Any exchange can easily honor Gatehub’s issued tokens and Gatehub can easily honor any other tokens issued on the XRPL. It comes down to who Gatehub trusts and who trusts Gatehub.
Unfortunately we do not keep track of which exchanges support which tokens. You can reach out to your exchange and ask them.