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ThunderCore Raises $50 Million in Funding; Develops Protocol Enabling Lightning Fast Transactions on Blockchain Platform

ThunderCore, a leading technology company specializing in decentralized solutions, today announced a successful raise of $50 million. The company, which developed an optimized protocol delivering swift and scalable blockchain transactions on its proprietary platform, accepted funds from several recognized investors in the U.S. and Asia, including: Pantera, Huobi Capital, MetaStable, ZhenFund, Electric Capital, Arrington XRP Capital, FBG, Hashed, Kinetic, SV Angel. With deep connections and substantial experience in the blockchain arena, ThunderCore's investors will enable the company to further build and improve its nimble platform for the decentralized app developer community, addressing their increasing need for secure, fair and transparent transactions via distributed ledger technology. With a successful track record and pioneering blockchain research credentials, the ThunderCore team is led by co-founder and CEO Chris Wang, who holds a doctorate in computer science from Carnegie Mellon University and co-founder and Chief Scientist, Elaine Shi, who wrote the first academic research paper on both Bitcoin and decentralized smart contracts. Among his myriad accomplishments, Chris started gaming company Playdom, which was acquired by Disney for $532 million. As well as her ...Full story available on Benzinga.com
Benzinga

Totle Exchange Platform Launches Multi-Featured Solutions

Totle, the startup backed by TechCrunch founder Michael Arrington’s crypto-fund Arrington XRP, has started a solution for the fragmented decentralized trading and exchange ecosystem. The Totle platform provides in-app exchange in wallets; payments and transactions for business; arbitrage exploitation by hedge funds and trading platforms; and rebalancing for portfolio managers. “This product provides a foundation for decentralization and the future of blockchain,” said David Bleznak, founder and CEO of Totle. “Prior to Totle, there was no reliable infrastructure for decentralized value exchange. At a minimum the market (we) should expect price optimization and safe custody every time value is exchanged on a blockchain. This is Totle’s mission.” By aggregating decentralized exchanges, the Totle platform relieves the need to integrate with and understand the protocols of multiple decentralized exchanges and implement complex price discovery mechanisms. Key features of the platform include: Single access point for access to all decentralized value exchanges Non-custodial token trades Best trade price Simple integration Reliable trade execution Multiple exchanges in one request The best liquidity and largest token selection in the decentralized exchange space  Totle’s API is free at launch and is being integrated with early access partners including AlphaWallet, Arbitraj.io, Fractal Wealth, Marble, Mirian and Shrimpy. Totle has received strategic investments from NEO Global Capital (NGC), one of the world’s leading blockchain investment firms with over $400 million in assets, as well as TechCrunch and Arrington XRP Capital (XRP) founder, Michael Arrington.  
BlockTribune

Ultrain Steams Ahead With NEO Investment

Venture capitalists need to have nerves of steel to invest in the crypto space when times are tough, but not all of them do. One exception is NEO Global Capital, which has just backed Singapore-based Ultrain. The project plans to use the investment to build its next-generation cloud infrastructure, and it couldn’t have come at a better time as Ultrain prepares to deliver its Blockchain 3.0 platform to the business community. NEO Global Capital, which is the investment arm of the NEO Foundation, is still pouring capital into new startups while other institutional investors have been running the other direction. Barry Silbert, at the helm of Digital Currency Group, witnessed six crypto deals come apart at the seams in the last month alone after the lead investor bailed. As ShapeShift CEO Erik Voorhees pointed out on Twitter, VC is supposed to be the “smart money,” but all too often it tends to follow the crowd. That’s not the case for NGC, which boasts a war chest of $400 million in assets. A string of other high-profile institutional investors are also backing Ultrain including Arrington XRP Capital, Draper Dragon and DHVC. As of this summer, Ultrain was valued at $200  million. Roger Lim, Founding Partner at NEO Global Capital, said in a statement that businesses looking to integrate the blockchain face hurdles such as “low throughput, smart contract performance, and security of traditional platforms,” issues that NGC believes Ultrain’s blockchain engine will solve. Ultrain Competes To Lead Blockchain 3.0 Ultrain’s technology is designed to connect the business community to a new, enterprise-ready blockchain. On Dec. 1, they opened their testnet for the community and developers to experiment and deploy smart contracts before doing so in the real world. According to a recent press release, popular Ethereum-based dApp HyperDragons has begun deploying on Ultrain. Ultrain is also behind the Random Proof of Stake (R-PoS) algorithm, which uses a random node selection method (rather than relying on trust) to ensure decentralization and bolster performance. Over the summer, Ultrain deployed 1,000 nodes to Amazon’s AWS, achieving an average of 3,000 transactions per second and a 10-second confirmation time. According to the company, that beats the performance of other blockchain-3.0 startups. No FOMO in a Bear Market Ultrain Co-Founder and CEO Rui Guo, who previously led Alibaba’s security department data platform, believes Ultrain’s mining rigs will help to bolster mainstream adoption of the blockchain over the next half-decade. Guo is among those in the blockchain community to be waiting for the next killer decentralized app to usher in a crypto bull market. Meanwhile, NEO Global Capital’s Lim recently explained the dynamics of the bear market, saying there is less fear-of-missing-out (FOMO) while “projects best equipped with a ‘survival of the fittest’ mentality are the most likely to succeed.”  The mettle of many of those projects is about to be tested in 2019.   The author is invested in ETH, which is mentioned in this article.    The post Ultrain Steams Ahead With NEO Investment appeared first on Crypto Briefing.
CryptoBriefing

AERGO secures $30 million from top investors to build first-of-its-kind public blockchain platform

Samsung-backed startup partner, AERGO announces it has secured $30 million from top investors including Sequoia Capital China and GBIC, to develop its end-to-end open-source platform for distributed services. AERGO, the strategic technology partner of Samsung Ventures funded startup Blocko, announces it has secured $30 million in a venture funding round to allow businesses to share data through trustless blockchain networks. Blocko supports, develops, and subsequently plans to use the AERGO platform to offer a broader set of enterprise-IT solutions and cloud-based application development capabilities to many existing blockchain clients. AERGO is an end-to-end open-source based platform that features customizable high-scale hybrid-blockchain deployments, a serverless cloud architecture, and data bridging technology. The company was founded by Blocko’s leadership team consisting of enterprise-IT and blockchain veterans. AERGO’s architecture will allow enterprises to transfer data without having to trust an intermediary while also being flexibly governed and integrated seamlessly into existing systems. AERGO will use the funds to develop the AERGO platform. This includes: Releasing a new base-layer public blockchain protocol Delivering a set of easy-to-use IT integration software deployment blueprints Scaling-out its research and development teams Launching new applications on the platform to demonstrate use cases Expanding its partner ecosystem and global reach The AERGO organization will build a public blockchain platform that incorporates insights Blocko has gained from delivering 23 private blockchain products to enterprises, fintech companies, and government bodies since 2014 with the funds they have secured. The funding round included Sequoia Capital China, GBIC, Neo Global Capital, Dekrypt Capital, FBG Capital, Arrington XRP Capital, JRR Crypto, Rockaway Capital, Block Crafters Capital, and more. Phil Zamani, Founder and Chairman of AERGO organization said, “I’ve spent over twenty-five years leading firms like Red Hat and VMWare in driving adoption of open-source technologies by delivering complex systems to corporations like Deutsche Telekom, HSBC, Ferrari, Sony, Ericsson, and Siemens” The Founder added, “Blocko’s approach to the next frontier of open-source technology, blockchain, will emulate that which I made when leading business strategies in firms like Red Hat, where innate customer know-how, which Blocko has, was the edge over competitors like IBM.” Mr. Zamani believes the success of the funding round is credited to the open-source enterprise-IT leadership experience he holds and the four years of practical blockchain implementation experience Blocko holds, having delivered many in-production systems to clients including Korea Exchange, Samsung Card, Lotte Card, a South Korean government body [and more]. Blocko’s services became increasingly demanded by large companies after Samsung first made an investment in the company in 2016. AERGO takes a hybrid blockchain approach to its design architecture which entails a mix of a public chain, private chains, and side chains all connected through interoperability technology. AERGO claims a hybrid approach, should allow ease of integration into existing systems by giving businesses the flexibility of coupling completely trustless environments for sensitive data or value transfers with regulatory compliant record-keeping, privacy, and customization. Sinhae Lee, Partner at GBIC said, “Many of the newer blockchain solutions are still not suited for enterprises and existing businesses. AERGO has the greatest potential to bring blockchain technology closer to the real world as it is leveraging Blocko’s core technology which has dozens of production-level projects with millions of end-users” Lee further added, “The team has been focusing on blockchain technology since 2014 and has been providing its blockchain product, Coinstack, to some of the largest conglomerates including Samsung Card, Hyundai, and Kia Motors.” Roger Lim, Partner at Neo Global Capital, the investment arm of China’s blockchain platform NEO, added, “There are three things needed for a platform to be successful: great technology, a strong team, and a proven track record to deliver on a disruptive vision. The team’s extensive experience in delivering blockchain implementations stands out and fulfills these requirements. We look forward to working with AERGO to help them to deliver a platform for decentralized applications running on the blockchain.” The startup previously raised USD 8.9 million in Series-B round in June of this year, which included a follow-on investment from Samsung Ventures from a previous funding round. Leadership: Won Beom-Kim – Founder and Chief Scientist Phil Zamani – Chairman & CEO Hunyoung Park – CTO & Board Member About AERGO: AERGO is an open platform that allows businesses to build innovative applications and services by sharing data on a trustless and distributed IT ecosystem. AERGO is supported and developed by Blocko, Korea’s largest blockchain infrastructure provider. About GBIC: GBIC [Global Blockchain Innovative Capital] is a multi-strategy crypto fund with offices in New York, Shanghai, and Seoul. GBIC is a global fund that furthers the development, acceleration, and launch of blockchain projects. The post AERGO secures $30 million from top investors to build first-of-its-kind public blockchain platform appeared first on AMBCrypto.
AMBCrypto

AERGO Secures $30 Million from Top Investors to Build First-of-its-Kind Public Blockchain Platform

CoinSpeaker AERGO Secures $30 Million from Top Investors to Build First-of-its-Kind Public Blockchain Platform AERGO, the strategic technology partner of Samsung Ventures funded startup Blocko, announces it has secured $30 million in a venture funding round to allow businesses to share data through trustless blockchain networks. Blocko supports, develops, and subsequently plans to use the AERGO platform to offer a broader set of enterprise-IT solutions and cloud-based application development capabilities to many existing blockchain clients. AERGO is an end-to-end open-source based platform that features customizable high-scale hybrid-blockchain deployments, a serverless cloud architecture, and data bridging technology. The company was founded by Blocko’s leadership team consisting of enterprise-IT and blockchain veterans. AERGO’s architecture will allow enterprises to transfer data without having to trust an intermediary while also being flexibly governed and integrated seamlessly into existing systems. AERGO will use the funds to develop the AERGO platform. This includes: Releasing a new base-layer public blockchain protocol. Delivering a set of easy-to-use IT integration software deployment blueprints. Scaling-out its research and development teams. Launching new applications on the platform to demonstrate use cases. Expanding its partner ecosystem and global reach. The AERGO organization has raised $30 million in funds to build a public blockchain platform that incorporates insights Blocko has gained from delivering 23 private blockchain products to enterprises, fintech companies, and government bodies since 2014. The funding round included Sequoia Capital China, GBIC, Neo Global Capital, Dekrypt Capital, FBG Capital, Arrington XRP Capital, JRR Crypto, Rockaway Capital, Block Crafters Capital, and more. Phil Zamani, Founder and Chairman of the AERGO organization, said: “I’ve spent over twenty-five years leading firms like Red Hat and VMWare in driving adoption of open-source technologies by delivering complex systems to corporations like Deutsche Telekom, HSBC, Ferrari, Sony, Ericsson, and Siemens. Blocko’s approach to the next frontier of open-source technology, blockchain, will emulate that which I made when leading business strategies in firms like Red Hat, where innate customer know-how, which Blocko has, was the edge over competitors like IBM.” Mr. Zamani believes the success of the funding round is credited to the open-source enterprise-IT leadership experience he holds and the four years of practical blockchain implementation experience Blocko holds having delivered many in-production systems to clients including Korea Exchange, Samsung Card, Lotte Card, a South Korean government body (and more). Blocko’s services became increasingly demanded by large companies after Samsung first made an investment in the company in 2016. AERGO takes a hybrid blockchain approach to its design architecture which entails a mix of a public chain, private chains, and side chains all connected through interoperability technology. AERGO claims a hybrid approach should allow ease of integration into existing systems by giving businesses the flexibility of coupling completely trustless environments for sensitive data or value transfers with regulatory compliant record-keeping, privacy, and customization. Sinhae Lee, Partner at GBIC, said in a statement: “Many of the newer blockchain solutions are still not suited for enterprises and existing businesses. AERGO has the greatest potential to bring blockchain technology closer to the real world as it is leveraging Blocko’s core technology which has dozens of production-level projects with millions of end-users. The team has been focusing on blockchain technology since 2014 and has been providing its blockchain product, Coinstack, to some of the largest conglomerates including Samsung Card, Hyundai, and Kia Motors.” Roger Lim, Partner at Neo Global Capital, the investment arm of China’s blockchain platform NEO, added: “There are three things needed for a platform to be successful: great technology, a strong team, and a proven track record to deliver on a disruptive vision. The team’s extensive experience in delivering blockchain implementations stands out and fulfills these requirements. We look forward to working with AERGO to help them to deliver a platform for decentralized applications running on the blockchain.” The startup previously raised USD 8.9 M in a Series-B round in June of this year which included a follow-on investment from Samsung Ventures from a previous funding round. Leadership Won Beom-Kim – Founder and Chief Scientist Phil Zamani – Chairman & CEO Hunyoung Park – CTO & Board Member About AERGO AERGO is an open platform that allows businesses to build innovative applications and services by sharing data on a trustless and distributed IT ecosystem. AERGO is supported and developed by Blocko, Korea’s largest blockchain infrastructure provider. About GBIC GBIC (Global Blockchain Innovative Capital) is a multi-strategy crypto fund with offices in New York, Shanghai, and Seoul. GBIC is a global fund that furthers the development, acceleration, and launch of blockchain projects.     AERGO Secures $30 Million from Top Investors to Build First-of-its-Kind Public Blockchain Platform
Coinspeaker

AERGO Raises $30 Million From Investors, Set To Develop A First-of-Its-Kind Blockchain System

AERGO,  a Samsung-backed startup partner has announced it has successfully raised $30 million from top investors, including Sequoia Capital China and GBIC to enable to build its end-to-end blockchain network. AERGO, a tech partner of Blocko, which is a Samsung Ventures funded company, has successfully secured $30 million from highly reputed investors, to enable it to develop a trustless blockchain network that would make it easy for firms to share data seamlessly. Blocko supports the AERGO initiative, and it plans to use the latter’s blockchain solution in offering clients a broader set of enterprise IT solution as well as cloud-based application development services to its existing blockchain clients. AERGO is a highly functional blockchain platform that provides clients with custom-made high-scale DLT deployments, serverless cloud architectures, as well as data bridging services. Founded by Blocko’s enterprise team of experts in the blockchain industry, AERGO is looking to use its new $30 million war chest to develop a blockchain platform that would enable organizations to transfer data without intermediaries. That’s not all, AERGO will also use the fund to:    Establish a new base-layer public blockchain network    Create user-friendly IT integration software deployment frameworks    Launch new blockchain applications    Ink more partnership deals with other credible firms in the blockchain industry The blockchain firms that participated in the AERGO funding round include: Sequoia Capital China, GBIC, Neo Global Capital. Dekrypt Capital, FBG Capital, Arrington XRP Capital, JRR Crypto, Rockaway Capital, Block Crafters Capital, and several others. Chairman and Founder of AERGO, Phil Zamani noted that: “I’ve spent more than twenty-five years leading firms like Red Hat and VMWare in driving adoption of open source technologies by delivering complex systems to corporations like Deutsche Telecom, HSBC, Ferrari, Sony, Ericsson, and Siemens.” AERGO is crafted using a hybrid blockchain design. The platform is developed with a mix of a public chain, private chains and side chains connected via interoperability technology. AERGO says the hybrid nature of its blockchain system, coupled with its regulatory compliant record keeping and other excellent feature, makes it easy for businesses to integrate it into their existing technology seamlessly. “Many of the newer DLT platforms are still not suitable for enterprises and existing businesses,” said Sinhae Lee, a Partner at GBIC, adding “AERGO has the greatest potential to bring blockchain technology closer to the real world as it is leveraging Blocko’s core technology which has several production-level projects with millions of users.” Twitter: https://twitter.com/AERGO_IO?lang=en LinkedIn: https://www.linkedin.com/company/teamaergo/ Email: allison@blonde20.com Phone: +972 58-7892862 The post AERGO Raises $30 Million From Investors, Set To Develop A First-of-Its-Kind Blockchain System appeared first on ZyCrypto.
ZyCrypto

XRP Classed As Collateral By Crypto Loan Provider

According to recent reports, the digital currency backed lending provider, Cred, has included Ripple as a collateral option, enabling XRP Hodlers to get loans for their holdings without having to sell them or incur further consequences. As a lending provider which specialises in decentralised assets, Cred’s objective is to make it possible for anyone to access affordable credit products using digital currencies as collateral. After being founded this year by former PayPal executives, offers crypto-backed loans in several countries at single-deposit rates through its Crypto Line of Credit. The C-LOC enables crypto holders to deposit their digital currencies (Bitcoin, Ethereum and Ripple) as collateral to access the loans. After the loans are paid, the cryptocurrencies are sent back. Speaking on the addition of XRP as a collateral option, the co-founder of Cred Dan Schatt mentioned that the firm was excited to “offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders,” adding that Cred will also continue to support its partners “who are integrating the Cred platform for the benefit of their users.” A crypto investor and the founder of Arrington XRP Capital, Mike Arrington is actually a user of Cred and was happy to hear the blockchain startup for seeing XRP as an asset class by saying: “As a Cred borrower, I appreciate how responsive Cred is to my needs. They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community.” Being able to borrow against digital currency has seen a wave of opportunities to digital currency investors all around the world. Last month, SALT Lending, began offering USD loans to holders of Dogecoin enabling them to take advantage of the slight surge in DOGE over the course of this year. As reported by CCN on the subject: “The company also supports Litecoin as a collateral option, and it recently lowered its interest rate to 5.99 percent for loans below $75,000 and 11.99 percent for loans up to $25 million. SALT’s competitor, BlockFi, took it a step further by adding support for Gemini Dollar (GUSD) as collateral for accessing credit on its platform. GUSD is a stablecoin issued by Cameron and Tyler Winklevoss’s crypto exchange, Gemini.” What are your thoughts? Let us know what you think down below in the comments! googletag.cmd.push(function() { googletag.display('div-gpt-ad-1538128067916-0'); }); The post XRP Classed As Collateral By Crypto Loan Provider appeared first on Crypto Daily™.
CryptoDaily

Crypto-backed Lender Cred to Offer $50 Million in Ripple (XRP) Collateralized Loans

The leading crypto-backed lending platform has announced that it XRP holders can now use their tokens to collateralize USD loans. Cred Adds XRP to List of Accepted Assets Holders of Ripple (XRP) in need of fiat money need not sell their assets now. They can now avail a loan against their cryptocurrencies using Cred’s line of credit (C-LOC). According to an announcement published Thursday on Cred’s official blog, the firm, which has over $300 million in credit facilities, has secured $50 Million for XRP based loans. Cred is a cryptocurrency start-up that offers its customers a decentralized lending eco-system. In addition to Bitcoin (BTC) and Ethereum (ETH), XRP has been added to the list of cryptocurrencies that the firm accepts as collateral. According to the firm, the loans at “single digit interest rates” are available to customers in multiple countries. Michael Arrington, Founder of Arrington XRP Capital and an investor in Ripple, said: As a Cred borrower, I appreciate how responsive Cred is to my needs. They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community. Arrington added: Cred is successfully building the next generation of lending and earning products, and their recognition of XRP as an asset class is important. Benefits of Using C-LOC The cryptocurrency market has lost 75% of its value since it hit an all-time high earlier in January. XRP has lost over 86% value. Investors who bought the digital asset at its peak value stand to lose a significant amount of money if they were to liquidate their assets now. C-LOC enables holders of Bitcoin (BTC), Ethereum (ETH) and now Ripple to collateralize their assets and receive fiat-based loans in USD. Customers get their assets back once the loan is paid off. According to the announcement: Whether you want to diversify your assets to mitigate risk, defer capital gains tax (consult with a financial advisor or professional), or simply need money fast, a Cred loan makes your crypto work for you. How to Apply Interested parties can access C-LOC through the Cred website. Users can register now for early access. The company also noted that it will be releasing its Borrow and Earn products via its strategic partner, Uphold, in the next few months. Speaking about the addition of XRP, Dan Schatt, Co-founder of Cred, said: We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders. […] We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users. Crypto-based lending is an excellent option for investors who want liquid cash urgently but don’t want to lose out on the long-term investment potential of cryptocurrencies. Have you ever used a crypto-backed lending platform? What do you think of Cred’s decision to add XRP? Let us know in the comments below. Images courtesy of Shutterstock The post Crypto-backed Lender Cred to Offer $50 Million in Ripple (XRP) Collateralized Loans appeared first on Live Bitcoin News.
Live Bitcoin News

Ripple Effect: XRP to Serve as Collateral for $300 Million Cred USD Loan Facility

In another significant news for XRP, holders of the popular cryptocurrency now have access to a $300 million loan facility from Cred. This news is the latest in a long line of real-world adoption for the Ripple cryptocurrency. Collateralize XRP for USD Loans In a press release published by Business Wire on Thursday (November 8, 2018), Cred announced the launch of a new $300 million credit facility. According to the statement, holders of the token can use the cryptocurrency as collateral to access the loans. Commenting on the move, Cred co-founder, Dan Schatt, said: We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders. We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users. In a tweet published by the company also on Thursday, Cred encouraged Ripple users to avail themselves of the unique opportunity afforded by the credit facility. The XRP-collateralized loans allow Ripple token holders to hold XRP without incurring tax and pay single-digit interest rates on loans. Now @Ripple customers have the opportunity to hold their #XRP long-term without the need to sell or incur tax. XRP hodlers can borrow as low as single-digit interest rates when they visit https://t.co/ya5n9glsuD and click “Get Early Access.” https://t.co/NpMlUjOiW7 pic.twitter.com/kigkwoNNqh — CRED (@ihaveCred) November 8, 2018 For Michael Arrington of Arrington XRP Capital, the credit facility is indicative of Cred’s ability to tap into the emerging market of cryptocurrency-backed lending. Speaking about the development, the Ripple permabull said: As a Cred borrower, I appreciate how responsive Cred is to my needs. They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community. Cred is successfully building the next generation of lending and earning products, and their recognition of XRP as an asset class is important. The Quest for Increasing XRP Utility Improving its token’s utility continues to the primary focus of Ripple as it strives the get the third-ranked cryptocurrency in everyday use. Recently, Weiss Ratings judged the token to be among four of the “best buy” coin options in the market. While SWIFT has denied rumors of a possible integration with Ripple, the company has been able to secure many other important partnerships and adoptions. At the start of the month, Ethereum World News reported on the launch of a payment system that can send XRP via text messages. There are also plans to integrate the XRP Tip Bot with Amazon Alexa. Recently, Changelly, a cryptocurrency exchange platform launched credit/debit card purchases for the Ripple token. This development opens up the XRP/fiat trading market to potentially 3.5 million users. Image courtesy of Shutterstock and Twitter (@ihaveCred). The post Ripple Effect: XRP to Serve as Collateral for $300 Million Cred USD Loan Facility appeared first on Ethereum World News.
Ethereum World News

Crypto Lending Platform Cred Adds Support For Ripple’s XRP

Crypto lending platform Cred is now providing USD loans collateralized by Ripple’s XRP. Cred is a decentralized global lending platform that facilitates open access to credit anywhere and anytime. It is the largest crypto-backed lending platform with over $300 million in credit facilities, 3x more than the rest of the industry combined. It is one of the founding members of the Universal Protocol Alliance. Ripple’s addition will allow XRP holders to save their tokens long term without the need to sell or incur tax consequences. XRP holders in several countries can borrow as low as single-digit interest rates when they visit Cred’s platform and click “Get Early Access.” “We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders,” said Dan Schatt, Co-founder of Cred. “We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users.” Mike Arrington, Founder of Arrington XRP Capital and well-known Ripple investor, said that as a Cred borrower, he appreciates how responsive Cred is to his needs, adding that he is impress with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community. “Cred is successfully building the next generation of lending and earning products and their recognition of XRP as an asset class is important,” said Arrington. XRP, the third largest cryptocurrency by market cap, has been gaining a lot of positive publicity. Earlier this week, it was reported that the cryptocurrency would be supported by crypto platform Wirex as an Apple Pay option.
BlockTribune

XRP Gets Further Push for Adoption as Cred Rolls Out USD Loans Collateralized by XRP

CoinSpeaker XRP Gets Further Push for Adoption as Cred Rolls Out USD Loans Collateralized by XRP XRP, an independent digital asset, native to the Ripple Consensus Ledger, has been gaining mass adoption and provifing competition for Ethereum, the second top cryptocurrency. The recents news from Cred, US based decentralized global lending network, will further enhance XRP growth and its adoption in the market.  The leading provider of crypto-backed lending has announced that it provides USD loans, collateralized by XRP. Now @Ripple customers have the opportunity to hold their #XRP long-term without the need to sell or incur tax. XRP hodlers can borrow as low as single-digit interest rates when they visit https://t.co/ya5n9glsuD and click “Get Early Access.” https://t.co/NpMlUjOiW7 pic.twitter.com/kigkwoNNqh — CRED (@ihaveCred) November 8, 2018 According to a press release issued by Cred, Ripple users now have the possibility to save their XRP without without the need to sell or incur tax consequences. Over $300 million has been secured by the company in total credit facilities available for lending. Dan Schatt, Co-founder of Cred, said: “We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders. We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users.” XRP hodlers can gain access to flexible and revolving Crypto Lines of Credit (C-LOC) through the Cred platform. By clicking on “Get Early Access” on the Cred’s official website, holders of XRP token from all corners of the world can now take loan as low as single-digit interest rates. Mike Arrington, Founder of Arrington XRP Capital and prominent Ripple investor, is excited about the initiative. He commented: “As a Cred borrower, I appreciate how responsive Cred is to my needs. They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community…their recognition of XRP as an asset class is important.” Cred’s New Partners Cred is a decentralized lending ecosystem that facilitates open access to credit anywhere and anytime based on the Ethereum blockchain. Founded by former PayPal financial technology veterans, Cred is aimed at harnessing the power of blockchain to allow everyone to benefit from low-cost credit products. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. The company has offices in San Francisco, Shanghai, Singapore, Sydney and Munich. In October of this year, Cred announced its milestone partnership with Uphold, a major global digital money platform that has conducted transactions worth over $4.0 billion across 184 countries. As a result of the collaboration, two cutting edge blockchain-based consumer finance products will be launched: Uphold Earn and Uphold Borrow. Both products are aimed at helping customers to earn interest from stablecoin holdings and borrow money against the cryptocurrencies they have. Moreover, Uphold users will be able to purchase Cred’s LBA with crypto, cash and via debit/credit cards, as well as obtain token-backed loans. Cred will also be powering the earn and borrow products for the Universal Protocol Alliance. Earlier, Cred secured $200,000,000 USD in crypto-backed lending facilities. XRP Gets Further Push for Adoption as Cred Rolls Out USD Loans Collateralized by XRP
Coinspeaker

XRP can now be used as collateral for a line of credit up to $50 million through Cred

Cred, a provider of cryptocurrency-based lines of credit, has recently announced that they will be adding XRP to their list of supported assets. This effectively allows XRP HODLers to put their coins up as collateral for USD loans, allowing them to utilize the coin without the need to sell or incur a loss in the form of capital gains tax. The company, which is said to have over $300 million in credit facilities, offers interest rates as low as single-digits. This effectively allows XRP enthusiasts to put up their XRP as collateral, and gain a flexible line of credit which can be utilized for their day to day activities. This allows for the spending of their crypto-assets without having to sell them and incur capital gains tax when filing. Mike Arrington, the Founder of Arrington XRP Capital, commented on the move by Cred, stating: “As a Cred borrower, I appreciate how responsive Cred is to my needs. They continue to impress me with their ability to act as a trusted bridge between the traditional financial services ecosystem and the crypto community…their recognition of XRP as an asset class is important.” Cred also announced recently that they would be powering the lending and earning products for the Universal Protocol Alliance and Uphold, which has also garnered positive support from the XRP Community in the past. Cred has also recently announced the launch of their LBA token, which effectively allows users to lower the interest rates of their loans, increase deposit yields and vote on specific projects on the Cred network. The emergence of platforms like Cred allows cryptocurrency holders with large amounts of digital assets to effectively spend their money through a procedure now called the “Zuckerberg Tax”. By borrowing against the assets, users can effectively avoid paying tax until the realization of their profits, which can occur indefinitely until the user decides to sell his/her assets. The co-founder of Cred, Dan Schatt: “We’re thrilled to offer XRP holders the same low rates and convenient liquidity services as ETH and BTC holders. We’re looking forward to continuing to support our many partners who are integrating the Cred platform for the benefit of their users.” The post XRP can now be used as collateral for a line of credit up to $50 million through Cred appeared first on AMBCrypto.
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Ravencoin Grows 20% And Continues to See RVN Token Surge in the Crypto Market

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Bitcoin Exchange Guide

Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report

Bitcoin [BTC] Futures were thought to be a snippet of the overarching cryptocurrency market, though meager in comparison to the larger spot market. A recent report from Bitwise Asset Management, the crypto-centric investment firm has stated otherwise. In a March 20 report presented to the United States’ Securities and Exchange Commission [SEC], Bitwise analyzed the Chicago Mercantile Exchange [CME], and the Chicago Board Options Exchange, with ten prominent cryptocurrency exchanges’ in terms of their trade volume. Prior to shedding light on their Futures versus Spot findings, it must be noted that the report revealed that 95 percent of the trading volume of unregulated exchanges were seemingly “fake and/or non-economic wash trading”. Taking into account this disparity, the percentage of futures volume to their spot equivalent increases from 1.51 percent to 33.33 percent. Reported Spot volume totaled $6 billion, but after removing the “suspicious exchanges”, the actual volume recorded dropped to $273 million, in comparison to the futures market volume of $91 million. Furthermore, the increase in futures’ volume as a percentage of the spot market has been steadily increasing. From November 2018 to January 2019, the futures market was just over 15 percent, and almost doubled in February 2019 to 33 percent. Since the Futures contracts were approved in December 2017, only on two occasions did the Futures volume, in comparison to the Spot market, shoot above 20 percent; this was in May and August 2018. Futures Volume expressed as a percentage of their Spot Equivalent In terms of their stand-alone trade volume, the CME and the CBOE are in good stead against the world’s top cryptocurrency exchanges. The daily volume the CME, which brings in $84.82 million, ranks second behind Binance’s $110.5 million and ahead of Bitfinex, which records $38.06 million in daily trade volume. The CBOE also fairs well, taking the ninth spot on the ladder, ringing in $6.12 million in daily trade volume. Gemini takes the eight spot with $8.11 million and itBit caps off the top-10 with $5.58 million in daily volume. Notable, among the top-12, eight exchanges are registered within the United States. Despite the CBOE’s comparative success against the spot exchanges’, it has not been performing well against its cross-town rival, the CME. This slump forced the CBOE to delist their Bitcoin Futures [XBT] for March 2019. However, the XBT futures that are yet to expire later in the year will not be off-loaded prematurely. Bitwise also points out that the CME Futures Price tracks the Global Spot Price based on an arbitrage model. Given below is a chart attesting the same: Arbitrage between the CME Futures price and the global Spot price The post Bitcoin [BTC] Futures in good stead against its Spot equivalent: Bitwise Report appeared first on AMBCrypto.
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How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval

The SEC has held the ETF approval for Bitcoin and Cryptocurrency for a couple of reasons. The most significant reason for the same has been the unregulated marketplace. While decentralization in Bitcoin is an attribute that makes it an ideal asset class, the market places or Exchanges that provide for conversion of FIAT to Cryptocurrency is still controlled by independent entities. A recent report by Bitwise Asset Management published by the SEC inferred that more than 95% of the cryptocurrency volume is being faked. Hence, according to that, the ‘actual spot volume’ on cryptocurrency exchanges is a little above $270 million. Moreover, the reported volume of CME and Cboe Bitcoin Futures is more than one-third of the ‘actual spot volume’ estimated by Bitwise. According to Bitwise Asset Management, This is good news because it means CME— a regulated, surveilled market— is of material size, which important for an ETF. The case of a Bitcoin ETF Approval Now CME Bitcoin Futures reported a spot trading volume of $85 million. Moreover, according to Bitwise Asset Management, the actual trading volume of the Crypto-to-FIAT Exchanges is around $273 million. Hence, according to this statistic the Futures Trading Volume of CME alone accounted for 31.1% of the ‘Actual Exchange Volume.’ Moreover, there are other Bitcoin Futures market active in Europe and Japan as well. Hence, going by the above statistic, it can be said that the institutional investment might be in parity with the unregulated investment in Bitcoin. However, the Exchanges have reported total spot volumes total to the tune of $6 billion. This can necessarily raise doubts on its demand being higher than $100 billion. However, it does not directly affect the total market capitalization of a cryptocurrency.   Parity Between Spot Trading of Bitcoin and Gold The spot trading volume of Gold is 0.55% of its total market capitalization, while according to Bitwise statistics spot ‘actual spot trading on Bitcoin is 0.39%. If the CME Futures volume is included in this data, the percentage will increase to 0.51%. The OTC trading volume on most exchanges is also not added in the Exchange Data. All this suggest that the institutional investment in Bitcoin is considerably more significant than one expects. It is not only healthy in volume but also agrees statistically with the closest relatable asset class, i.e., Gold. Hence, a new form of informational mechanics for the trading of Bitcoin and Cryptocurrency in regulated Exchanges could alleviate the doubts around the Bitcoin ETF approval.   The post How Cryptocurrency Trading Volume Fiasco Can Lead to Bitcoin ETF Approval appeared first on Coingape.
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Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. […] Cet article Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA est apparu en premier sur Bitcoin Central.
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