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Ripple partner MercuryFX to set up 10 new xRapid payment corridors by mid-2019

Ripple partner MercuryFX has plans to set up 10 new payment corridors to support and offer xRapid and the native digital asset XRP to its customers by mid of 2019. The plans were divulged by Alastair Constance during the Ripple Regionals Conference 2019 event held in London. The corridors will extend from the UK to Canada and the Middle East, Mexico and the Philippines. He stated that they have imminent plans for the Middle East and Canada while the other corridors will have to wait for a longer period of time. He added that Ripple’s xRapid blockchain solution has given them access to new markets that were inaccessible earlier. Constance continued: “It’s two countries today. It could be ten before the middle of the year. And what stops it from being any more than that?” Ripple’s partner SendFriend, a startup which uses xRapid, recently raised a whopping $1.7 million in funding from investors, including Barclays, and MIT Labs. SendFriend is making use of xRapid to facilitate cross-border payments between the US and the Philippines for contract workers working in the US who usually pay large amounts in fees to transfer money. These transactions also take longer to complete when compared to xRapid. The remittance between the US and the Philippines is worth a total of $650 billion, and about $45 billion of it is lost in fees. xRapid is a blockchain technology-based solution developed by Ripple that leverages the digital asset, XRP, to facilitate cross-border payments. Moreover, Ripple wants to achieve IoV between users across the world through RippleNet by using its products viz., xCurrent, xRapid, and xVia. With over 250 partners across the world, Ripple’s dreams are inching closer to reality. @cpoizat, a Twitter user, commented: “All these good news for the moment have very little impact on the price of XRP… it’s been like that since I bought some at the end of November. How long in your opinion is it going to take before we hit even $1 ?” The post Ripple partner MercuryFX to set up 10 new xRapid payment corridors by mid-2019 appeared first on AMBCrypto.
AMBCrypto

XRP Price Notes Further Losses Despite Mysterious MercuryFX Tweet

It will seemingly not be the best weekend for most cryptocurrencies, tokens, and digital assets. This is a bit of an unfortunate development first and foremost, although there is nothing one can do about it either. For those people interested in the XRP price, the current declines were somewhat to be expected. The main question is whether or not the asset can remain above $0.3 over the next few days. XRP Price Isn’t Making Much Progress Considering how no uptrend – regardless of its size – has been sustained in crypto land over the past 11 months, this most recent setback will not come as a big surprise either. All markets are under a lot of pressure once again, even though there doesn’t necessarily appear to be a reason for this particular trend. It is simply a continuation of how all markets evolve throughout 2018. This doesn’t bode well for any currency, token, or asset. In the case of the XRP price, the past 24 hours haven’t been spectacular for the right reasons. In fact, it has seemingly been another time of major dropbacks, as the price lost 4.65% in USD value and 3.56% in BTC value. This is pretty interesting to keeping an eye on, although there isn’t much one can do about it when Bitcoin turns very bearish. Right now, XRP is valued at $0.303, but it may not remain above $0.3 for much longer. There is one particular Tweet by MercuryFX which has many people speculating as of right now. The company confirms one of their clients saved over $13,000 in fees on a single money transfer. That is a very significant amount, although the company has not confirmed this was done through xRapid or by using XRP. Even so, it is of great interest to XRP fans, by the look of things. We just saved our client USD 13,232 on a single transfer. Isn't it time we started moving your money faster – and cheaper? pic.twitter.com/VbEkrkt6AZ — Mercury-fx Ltd (@mercury_fx_ltd) January 31, 2019 XRP to the M is a clear fan of the asset, yet still seems confused as to how this market works exactly. Although a lot of things are happening behind the scenes for Ripple and XRP, that doesn’t automatically mean the changes will reflect on the price itself. There is also no need to “show the proof of work”, as that is not how markets operate. With all this good news now is the time for #xrp to show his proof of work because it isn't doing shit at this moment. All big talk but they don't deliver. @yoshitaka_kitao @bgarlinghouse @JoelKatz pic.twitter.com/Ghj5WgNIGk — XRP to the M (@XRPtotheM) February 1, 2019 When looking at the current price chart, it would appear yesterday’s gains have been wiped out completely. More importantly, Mads Roland is convinced there will effectively be another leg down in the near future. How low the value will drop in the process, is a very different matter altogether. It seems evident there will not be any positive momentum for this market in the next few days, although that is always subject to change. One more time and then we are at the bottom again#XRP #XRPUSD #XRPUSDT #cryptohttps://t.co/nUHnvQbZ9t pic.twitter.com/W0LSy9yLwQ — Mads Roland (@madsroland) February 1, 2019 Based on all of these developments, there is still some excitement regarding XRP, although it will not necessarily result in a price gain. Although XRP usually doesn’t follow Bitcoin’s price trend, it seems to be doing so as of late, for some unknown reason. If that correlation continues, it seems rather unlikely this asset will see any further uptrend over the coming days. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post XRP Price Notes Further Losses Despite Mysterious MercuryFX Tweet appeared first on NullTX.
NullTX

Ripple SWELL Details: MercuryFX, Cuallix and Catalyst Corporate Credit Union Use xRapid and XRP for Client Payments

Three Companies Are Already Using Ripple’s xRapid and XRP for Commercial Clients, According to Event Announcement Ripple’s SWELL event is underway throughout the week. We already have the first big news release from the event as it was revealed that three companies are already using Ripple’s xRapid and XRP for payments. (more on the SWELL Event and Bill Clinton's speech) “After a series of highly-publicized pilots, three companies are now making commercial use of Ripple’s xRapid product,” reports CoinDesk from Ripple’s SWELL conference taking place this week in San Francisco. xRapid is a Ripple technology that uses the digital asset XRP as a “bridge currency” to facilitate cross-border payments. Using XRP and xRapid, corporations and financial institutions can lower costs when moving money worldwide. Ripple is marketing xRapid as a way to reduce costs and increase the speed of international payments by boosting liquidity. Ripple CEO Brad Garlinghouse took the stag at the conference in San Francisco to announce that three companies, including MercuryFX, Cuallix, and Catalyst Corporate Credit Union, were using xRapid and XRP for commercial purposes. This news is a big deal: it’s the first time these companies have confirmed commercial use of xRapid. MercuryFX is an international payments provider, while Cuallix facilitates remittances between the United States and Mexico. It was no secret that either company was using xRapid: both had announced test pilots of the technology earlier this year. However, the fact that they were already using xRapid for commercial clients was previously unreported. Catalyst Corporate Federal Credit Union, meanwhile, provides a range of financial services to around 1,400 credit unions, with a particularly large presence in the southwestern United States. It was previously unreported that Catalyst Corporate Federal Credit Union was working with Ripple whatsoever. Other major names associated with xRapid in the past have included Western Union, MoneyGram, Viamericas, and IDT. All of these firms have run tests using xRapid, but it seems none are currently using xRapid for commercial purposes. “We are still working on next steps [with some of these companies],” explained Ripple SVP of product Asheesh Birla in a statement to CoinDesk. XRP has been on a tear this past week in response to all of the positive news from Ripple. Seven days ago, XRP was sitting at a price of around $0.44 with a market cap of $17.7 billion. Today, XRP is sitting at a price of around $0.58 with a market cap over $23 billion. XRP continues to be the world’s third largest cryptocurrency by market cap, although it has surged into the second position at various points over the past week. Expect Cheaper, Easier Cross-Border Payments in the Future The payment technology used to transfer money from the United States to Mexico hasn’t changed in half a century, according to Ripple XVP of product Asheesh Birla in a statement to Coindesk: “Today if you want to move money, let’s just say into Mexico…the ways to do it were built in the 1960s. it really hasn’t changed. You have to open up a bank account in Mexico, and you have to deposit pesos in that bank account, and then you have to pay out locally. And that whole process sometimes takes weeks, and the setting up of a bank account is a whole treasury operation that takes months to get going.” Ripple’s xRapid technology, meanwhile, processes international payments using XRP. The sending party puts fiat currency – like the Mexican Peso – into a crypto exchange and converts it to XRP, and then that XRP gets converted into the desired fiat currency at its final destination – say, the US Dollar. Ripple has already announced partnerships with three exchanges that will facilitate this international transfer process, including Bittrex (for US Dollars, Bitso (for Mexican Pesos), and Coins.ph (for Philippine Pesos). Market markers on these exchanges will act as counterparties for fiat-to-XRP trades, and those market makers have no affiliation with Ripple. One source claimed that MercuryFX’s new xRapid technology cuts international money transfers from two days to a two minutes. Another source compared the new xRapid technology as like a bullet train replacing someone pushing around a wheelbarrow. xRapid is Different from xCurrent over the past few years, Ripple has generated headlines for a number of banking partnerships. However, many of these banking partnerships have used Ripple’s xCurrent technology, which is entirely separate from xRapid. Both xRapid and xCurrent facilitate cheaper, more efficient transfers among banks and corporations. However, xRapid uses the XRP digital token while xCurrent does not. Ripple insists that xCurrent was built to get banks started with fiat transfers, with plans to introduce them to fiat and crypto transfers in the future. How Will Ripple Monetize xRapid? Three banks have now confirmed that they’re using xRapid for commercial transactions. However, it’s not yet clear how Ripple will monetize xRapid. Fueling speculation is the fact that Ripple’s partners have made statements like this is response to whether or not they’re paying Ripple: “We've been using the XRP ledger on the basis that the money's not important right now. It's the dream that we're chasing that is.” That statement comes from Alastair Constance, founder and director of MercuryFX. Ripple, meanwhile, claims xRapid is part of the RippleNet suite of products that is sold to financial institutions. Ripple’s profitability is a big concern: Ripple continues to have the world’s largest stash of XRP tokens. They reportedly sell those tokens to the market regularly to generate revenue. There are also concerns about the connection between Ripple and XRP, including concerns over whether or not XRP is a security. Part of the confusion is that the value of XRP – a decentralized digital token – is expected to rise based on the decisions of Ripple – a centralized organization. “The xRapid product leverages XRP, so if you are doing a million dollars…through xRapid, that is a million dollars of XRP that you would need.” As xRapid adoption increases, it’s expected that the value of XRP would continue to rise – although institutions that use xRapid are not required to hold XRP themselves. Overall, Ripple CEO Brand Garlinghouse is extremely optimistic for the future of the company. Earlier this year, Garlinghouse predicted that “dozens” of banks would adopt xRapid by the end of 2019. Although Ripple might not meet that goal, it’s encouraging that at least three banks are now using xRapid for commercial purposes.
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Binance Coin (BNB) Falters Pushing Bitcoin Dominance Index to 2019 High

Binance Coin (BNB), the best performing cryptocurrency in 2019, is having hard times maintaining its recent gains despite major developments. Meanwhile, the Bitcoin dominance index has hit its highest so far in 2019.  Binance Coin Struggles As Bitcoinist reported last week, Binance Coin (BNB) 00 is amongst the best performing cryptocurrencies in 2019 so far. Year-to-date, the altcoin has gained around 260 percent. Moreover, a few days ago, BNB became the first to surpass its all-time high value of January 2018. On a shorter term, however, the cryptocurrency doesn’t seem to be able to maintain its gains. Since its price surged towards its newly-found ATH on April 20th, BNB has pulled back, experiencing a notable decrease of around 11 percent against the USD. Against Bitcoin, BNB is down even more with a 16 percent decline. ‘Binance Effect’ Fizzles… For Now Controversially, the sudden pull-back comes at times when there’s a lot going on for Binance and BNB. Earlier in this month, Binance launched the mainnet for their decentralized exchange Binance Chain. Touted as a “new chapter” in the history of the company, the event also set the stage for an important development for the currently existing ERC20-based BNB coins – their swap to Binance Chain. Moreover, Bitcoinist reported that every project which migrates to Binance Chain sees its token’s price skyrocket on the news. Since our last report, two more projects have migrated to Binance Chain, namely Gifto (GTO), and the Blockmason Credit Protocol (BCPT). Their prices, unsurprisingly, marked notable increases following the move. On another note, Binance Launchpad – the Initial Exchange Offering (IEO) structure of the cryptocurrency exchange, is having its fourth sale today with a brand new lottery system in place. According to the official website, the ticket claim process is already in progress. Ironically, Binance Coin seems to be the only cryptocurrency that fails to capitalize on the so-called “Binance Effect.” …Nor Does BTC Price Pump Another thing to consider is Bitcoin’s price performance throughout the same period BNB has been declining. Since April 22nd, BTC has marked yet another notable leg up, jumping from around $5,300 to $5,630 – an increase of about 6.3 percent. Bitcoin price 00 has experienced a slight pullback since its recent peak, losing about 1.5 percent on the day. However, looking at the overall cryptocurrency market reveals that BTC is actually holding relatively strong compared to other altcoins, most of which are bleeding notably. In result, the Bitcoin Dominance Index, which measures Bitcoin’s relative market share by capitalization, has risen to 54.7 percent, the highest in 2019 so far. What do you think of the recent drop in the price of Binance Coin? Don’t hesitate to let us know in the comments below! Images via Shutterstock, TradingView, Coinmarketcap.com The post Binance Coin (BNB) Falters Pushing Bitcoin Dominance Index to 2019 High appeared first on Bitcoinist.com.
Bitcoinist

Ontology’s VBFT Algorithm Sets New Standard for Blockchain Consensus

Ontology introduced its VBFT consensus algorithm last year and the project has continued to build momentum over the past several months. This is big news in the world of blockchain as the PoW and BFT consensus algorithms are what most mainstream public chains are using today. Ontology hopes that the VBFT algorithm will replace those commonly used, as they believe they have solved some of the major problems that lie within them. VBFT improves on the performance and scalability of public chains all while guaranteeing the randomness and fairness of a consensus network. Other algorithms have been known to cause The post Ontology’s VBFT Algorithm Sets New Standard for Blockchain Consensus appeared first on CCN
CCN

Breaking: NASDAQ is Testing Trading of a Bitcoin-based Product

Coinspeaker Breaking: NASDAQ is Testing Trading of a Bitcoin-based ProductIt’s great news for Bitcoin (BTC) enthusiasts and the crypto community as Nasdaq is possibly testing the trading of a Bitcoin-based product. Cryptopolis, a quantitative analyst at StrongMarket, tweeted about purchasing one BTC on the Nasdaq platform through his TD Ameritrade account.Cryptopolis also noted that the BTC trading was available since April 10 on the Nasdaq platform.BREAKING: BTC is now being traded on the Nasdaq! I bought one BTC through my TDAmeritrade account! According to the chart it started trading April 10, 2019!! Other digital assets are soon to follow!! 🚀🚀🚀 pic.twitter.com/1VgE1Whoa4— Cryptopolis (@cryptopolis_x) April 22, 2019As we can see, Bitcoin (BTC) was trading against the U.S. Dollar under the ‘CXERX’ ticker symbol. However, Cryptopolis laters spoke with the support team of TD Ameritrade to clarify this matter. It turned out that this was just a test on Paper Trading platform meaning that you can just simulate a Bitcoin (BTC) buy, but not actually purchase it.However, the support denied giving additional details regarding this matter. In another tweet, Cryptopolis wrote:“UPDATE: According to TDAmeritrade support – it’s not a real trade in my account – it appears they are testing only using their Paper Trading platform. Support said “I’m not able to speak on it” -They did not know what CXERX is. Strange… But something is going on for sure!”Nasdaq’s Bitcoin Trading to Trigger Next Bull RunUndoubtedly, the availability of Bitcoin trading on the Nasdaq platform could trigger the next bull-run in the crypto market. It would be huge news for the overall crypto community as this could lead to a flood of institutional money flowing into the crypto market.Since long, Nasdaq has been to step in the crypto market through one or the other route. Nasdaq already provides several crypto exchanges with real-time information on two cryptocurrency indices – Bitcoin and Ethereum. If the world’s second-largest stock exchange allows BTC trading, it will open the floodgates for huge investor participation.Furthermore, Nasdaq is most likely to launch its Bitcoin futures contracts along with VanEck in the first half of 2018. A Bloomberg report released in November 2018 read:“Nasdaq has been working to satisfy the concerns of the U.S.’s main swaps regulator, the Commodity Futures Trading Commission, before launching the contracts, the people said. The New York exchange operator, which was first reported to be eyeing Bitcoin futures last year, wants to allow trading in the first quarter of 2019, one of the people said.”Nasdaq is most likely to be accompanied by another big player – Bakkt – who is planning for Bitcoin futures launch ahead this year. The year 2019 is likely to bring some of the most interesting developments in the crypto market.Since the beginning of April 2019, Bitcoin and the overall crypto market has created a fresh new hope after months of massive crypto winter. Bitcoin price has surged by nearly 30% in the last three weeks as it sets its new target for $6000. Similarly, the overall market has added $40 billion since April 1, as altcoins majorly participate in this month’s bull run.Breaking: NASDAQ is Testing Trading of a Bitcoin-based Product
Coinspeaker

BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
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