Category: Ripple and XRP news
Stellar’s price has soared in the past few days, giving this digital currency a market capitalization of over $15.7 billion, and making it the sixth largest crypto-currency by size.
This followed Ripple’s recent strong rise by over 25 percent since the beginning of the year. Stellar was founded by ripple co-founder Jed McCaleb and is very similar to ripple. Stellar and Ripple both focus on providing efficient cross-border payments, with transactions settling in seconds – much faster than bitcoin transactions which can take an hour or more. Both stellar and ripple have benefited from sharply rising bitcoin fees, since both are optimized for fast and cheap transactions.
Another new entry in the top 10 of digital currencies by market capitalization is Tron. Tron (TRX) began trading in September 2017 at a tenth of a cent. However, earlier this week it climbed to over 20 cents. As a result, Tron has currently a market capitalization of $13.5 billion, behind Stellar and above Litecoin.
Tron’s blockchain-based platform was developed for monetizing digital entertainment.
William Mougayar, organizer of the Token Summit conferences, commented: “We are seeing the beginnings of renewed speculative fever driven by fears of missing out on the big gains that have recently happened in the crypto space. Although there were some cryptocurrencies that were under-valued a month ago, and they deserved the run-up, things are getting a little over-heated right now”.
Posted in Ripple and XRP news, Stellar news, Tron news Tagged with: Tron news
Over the past few days, Ripple has overtaken Ethereum and became the second most valuable digital currency. The market capitalisation of Ripple now exceeds $100bn and each Ripple coin – or XRP – is now worth over $2. It was only worth one tenth of this just a month ago, and less than 0.5 cent a year ago.
However, Bitcoin still remains the most valuable crypto-currency with a total market capitalisation over $230bn, and each bitcoin is currently worth over $13,000.
Unlike other digital currencies, Ripple tokens are controlled by a single company, Ripple, based in San Francisco, which slowly releases new tokens as the network is used.
Ripple presents itself as a safer alternative to other crypto-currencies. It was set up in 2012 to help banks pay each other faster and facilitate global financial transactions.
To date, over 100 banks such as Bank of America, Santander and UBS use the Ripple system. In the past few days, three of Japan’s largest credit card companies announced they had joined Ripple to handle payments and settlement.
Posted in Bitcoin news, Ethereum and Ether news, Ripple and XRP news
Trading 212’s app is currently the most popular trading app in the UK, from trading shares, commodities and now crypto-currencies. According to Trading 212, the contribution of crypto-currencies to its total business is significant.
Trading 212 is surfing the wave of the digital currencies market, which has increased from $10 billion to $170 billion in 2017.
Customers can already trade bitcoin, ether, bitcoin cash, dash, ripple, monero and neo. And before the year end, additional crypto currencies will be added, including ethereum classic, iota, eos, lisk, augur, zcash, qtum, omisego, cardano, ark, steem, stratis and waves. And for those who do not want to buy a full bitcoin, its Bitcoin Mini market quotes a price for 10% of the value of a bitcoin.
A key difference compared with most exchanges is that it uses contract for differences (CFDs). This may reduce the complexity and the risk of owning digital currencies but is banned in the USA.
The Trading 212 app also includes a real-time chat facility, educational tools and regular cryptocurrencies analysis.
A number of forex brokers also offer crypto-currency trading, such as InterTrader, Avatrade.com and Trade.com.
Posted in Bitcoin news, Cryptocurrency exchange news, Ethereum and Ether news, IOTA news, Monero news, Ripple and XRP news
Ripple has announced the opening of a new office in Singapore. This completes their current international set up with offices in San Francisco, New York, London, Sydney, India, and Luxembourg.
Dilip Rao, managing director for Ripple APAC, said, “Singapore is leading the charge when it comes to streamlining money exchange, remittance and payments systems. In fact, one of the key themes raised during the Prime Minister’s recent National Day Rally was the importance of digitizing payments in the country’s aim to become a Smart Nation.”
“Our new office can support this ambition and equally brings us closer to our customer base across the Asia-Pacific region, enabling banks, payment providers and corporates to make instant payments into-and-out of the country using blockchain. As a leading trade and fintech hub, Singapore offers Ripple leverage in the region as we expand our global footprint.”
Singapore has stated ambitions to be the world’s leading fintech and innovation hub. It is also one of the biggest and busiest global trade centers with many large, multinational companies basing their regional treasury offices in the country. For these reasons, and to support our rapidly-growing customer base across Asia-Pacific markets – including Standard Chartered, a Ripple investor, member of the RippleNet Advisory Board, and early adopter of blockchain technology to power payments.
The World Economic Forum rates Singapore as the world’s most open and trade-friendly economy, with competitive institutions, policies, infrastructure and services to encourage the free flow of products and services. Impressively, Singapore’s trade stands at 2.7 times its GDP; it is on track to become the biggest commodity trading hub worldwide; and it is the leading trading hub for Asian currencies in the banking industry.
Singapore’s trade flows – worth about $550 billion annually and projected to grow significantly – coupled with its aspirations to become the leading fintech center, are set to drive the demand for more efficient payments. We are already seeing huge demand for our enterprise blockchain payments solution from local banks, as well as payment providers and corporates across the region more broadly.
Posted in Cryptocurrency market news, Ripple and XRP news
UBS, in collaboration with UK-based Clearmatics, announced 2 years ago that they wanted to create a Utility Settlement Coin or USC that can be used for financial transactions.
A year ago, BNY Mellon, Deutsche Bank, Santander, ICAP and NEX joined the project.
They have now partnered with HSBC, State Street, Credit Suisse, MUFG and Canadian Imperial Bank of Commerce, and intend to launch this new form of digital cash in 2018.
The Utility Settlement Coin will use a blockchain-type system for clearing and settling transactions. Therefore the USC may potentially replace intermediaries such as clearing houses that stand between buyers and sellers of assets. Using blockchain technology, it would minimise risks in the payments and settlement process, and allow financial markets to make payments and / or settle transactions fast.
Interestingly, this currency may become a competitor for Ripple and XRP.
Posted in Cryptocurrency market news, Ripple and XRP news