Category: Finance

Categories
Crypto Finance News

Ripple (XRP) Is Now An Official Partner Of Coinone Transfer

We have some great news for Ripple (XRP) enthusiasts, the cryptocurrency is partnering with Coinone Transfer. In case you didn’t know, Ripple (XRP)’s new partner is a payment business subsidiary of Coinone’s exchange platform. The reason why Coinone Transfer is partnering with Ripple (XRP) is because it wants to be a customer of the cryptocurrency’s xCurrent product.

xCurrent

Obviously, Ripple (XRP) is the world’s third biggest cryptocurrency with a market capitalization of $30.6 billion, but that’s not why Coinone Transfer is partnering with it. Coinone Transfer wants to utilize the xCurrent service that Ripple (XRP) offers. xCurrent gives companies the ability to perform bank-to-bank global funds transfers.

Cross

We should mention that Coinone Transfer is going to become the first South Korean based exchange platform to use xCurrent. Moreover, the new product is going to be named “Cross” and it will be a new remittance service that is targeted towards transferring funds across Southeast Asia.

Fast Transfers at Low Cost

xCurrent is the perfect choice for Coinone Transfer because Ripple (XRP)’s product is able to perform global fund transfers in an instant. Not just that, but the fee that xCurrent charges is basically inexistent because it is only 0.0004 XRP per transfer.

Largest Asset Exchanges

This partnership might help Ripple (XRP)’s token price grow because Coinone Transfer is the biggest asset exchange in South Korea. The company handles over $97 million dollars in transactions every day and its also a member of the DAYLI financial groups which means that it works with SBI Ripple Asia.

Coinone Transfer CEO Speaks Out

“We are proud to be the first digital exchange in Korea to join RippleNet and implement Ripple’s xCurrent solution. Ripple’s xCurrent solution will revolutionize the lives of our customers by providing them with a real-time, low-cost global remittance service.” Said Wonhee Shin who is the CEO of Coinone Transfer.

Categories
Crypto Finance

Ripple (XRP): Codius, The Ripple’s Smart Contracts Platform, Has Been Revived

Codius, Ripple (XRP) smart contract platform, has now been revived, as some sources say. The platform was halted in 2015 because the cryptocurrencies market was in its infancy, back then, and, at that moment, a standard for transactions involving smart contracts also lacked, resulting in the progressive abandonment of the concept by the Ripple team.

Even though the Codius site is up and running, the platform is in its beta stage, for the moment, thus enhancing the chances for a future implementation of the new Ripple’s technology into Codius. Additionally, the source code was also scanned for dragons, which are the usual errors which are encountered in the software while it is its testing phase.

Ripple (XRP) smart contract platform, Codius, has been revived

In order to keep Codius up and running and to avoid dropping, there must always be at least a single person who is using the platform.

However, the usability of Codius in big. Accordingly, decentralized applications and smart contracts built on Ripple’s rapid and safe technology solutions may also rely on Codius.

On the other hand, the integrated micropayment solutions may be implemented to enable transactions between 2 Codius programmes.

Codius is an open hosting protocol. Makes it easy to load a program, whether you want it to run on one host or thousands. It also has built-in billing….once a program is loaded, anyone can pay to keep it running – the author, the users and even the program itself.

Codius Team, on codius.org

Ripple (XRP) Price

At the moment of this article, Ripple (XRP) is doing well in the cryptocurrencies market as it is trading at $0.85 and registered an appreciation of about 2.20% in the last 24 hours.

In the end, reviving Codius, the Ripple’s smart contracts platform, is a nice idea but implementing Ripple’s new technologies into Codius would be a great idea. If this will happen, and most probably it will indeed happen eventually, Ripple (XRP) price might soar up.

Categories
Crypto Finance News

VPE Bank Implemented The First Cryptocurrencies Exchange Dedicated To Big Whales In The Crypto-Verse In Germany

The German VPE Wertpapierhandelsbank AG (VPE) has pronounced its cryptocurrency exchange platform for big crypto holders, Krypto-Währungshandel, and asserts this is the first of this kind in Germany.

Equipped with a Bafin license as well as a cooperation with SolarisBank, a Berlin-based business offering cryptocurrencies trading solutions, VPE alleges to provide “best-in-class technology”.

It offers the necessary infrastructure to enable investors to take part in highly prosperous and promising future projects.

VPE Bank is a German-based over-the-counter trading financial institution

VPE Bank offers brokerage services, financial consultancy, credit support and several other advisory services to satisfy clients’ requirements. As a securities bank, the VPE has an impressive history of successful operations and has the relevant networks and technological requirements for the settlement of specific securities trades, such as cryptocurrencies exchange.

The Bank’s spokesperson for the German bank, Katharina Strenki underlined:

Until now, institutional investors have faced high barriers to crypto trading. Our cryptocurrency trading services offer a much more convenient alternative. Cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and others have become a promising asset class in the recent years. To date trading, digital tokens have been restricted to crypto exchanges and online marketplaces. We are pleased to be the first German bank to offer cryptocurrency trading services to our customers.

The cryptocurrencies enthusiasts welcomed the Germany Bank decision

Around the world, more and more banks struggle to limit the cryptocurrencies operations, thus, VPE Bank of Germany, which has recently announced the implementation of its own cryptocurrency exchange.

On Twitter, many crypto holders and influencers showed positive feedback upon the announcement. For example, FredW, a crypto enthusiast posted on Twitter that “the game is changing as those big players together with regulations will act as a catalyst to winnow most useless shitcoins.”

In conclusion, the German bank VPE (VPE Wertpapierhandelsbank AG) developed its own cryptocurrency exchange dedicated to big whales of the cryptocurrencies world, being the first German bank to implements such a feature.

Categories
Crypto Finance News

Reserve Bank of India To Face Legal Action For Its Attempt To Implement A Total Cryptocurrencies Ban

After India’s efforts to combat cryptocurrencies related operations, the outcome was not as expected. When the country’s central bank, the Reserve Bank of India, has recently attempted to a cryptocurrencies ban, especially targeting the Bitcoin (BTC) operations, the organization is now confronted with legal repercussions for its actions.

India’s central bank to face legal action

India has experienced a difficult connection with Bitcoin (BTC), as well as with other and other cryptocurrencies. Now, it appears that the general atmosphere is not set to change soon. Even though the Reserve Bank of India is seeking to ban cryptocurrencies operations, it looks as if their endeavors may prove meaningless and could cause them even more troubles.

The Reserve Bank of India has promulgated a resolution dissuading the creditors from financing cryptocurrencies exchange and transactions. This is a serious issue for these cryptocurrency exchanges, particularly for the ones who have to handle investments and withdrawals in banknotes.

Apparently, India’s constitution prohibits a total cryptocurrencies ban

The banks were advised to progressively close their relations with cryptocurrency exchanges in the time frame between April and July 2018. However, it is still unknown how numerous are the financial institutions that have implemented this until now.

A petition was submitted to the Delhi Supreme Court at the beginning of this week demanding a verdict from the Reserve Bank of India. In the words of Kali Digital Eco-Systems, India’s national constitution apparently prohibits a complete cryptocurrencies ban, thus filing the appeal.

Although it is not the very first time that someone has declared that the harsh measures taken by the central bank in India are anti-constitutional, it might be well accepted in India. If the RBI fails to officially explain why such an approach is needed and for what reason they intend to accomplish it, it is clear that the decision-making process following this amendment of the circumstances could be contested.

In short, the Reserve Bank of India will face legal action against it after it took the decision to implement a total cryptocurrencies ban, which, apparently, is not a constitutional endeavor in India.

Categories
Crypto Finance

Cryptocurrencies Payments Are Significantly Cheaper Than PayPal, Which Increased The Fees

Recently, the electronic payment service PayPal announced an increase in its commissions. However, the increase in PayPal’s fees makes cryptocurrencies payments a much more beneficial option for users looking for alternative payments to traditional banking or online payment processors.

The new PayPal policy came into force at the end of the last week and implements a series new term of use, as well as the increase in the commission rate for international transactions. The new fees for PayPal services establish a base amount, depending on the country in which the sender is located, which varies between $2.99 and $4.99, to which is added a fee depending on the region where the transaction’s receiver resides.

Also, the payment service implemented changes in the conditions of use. Thus, from now on, all accounts must be fully verified, otherwise, users will only have access to their balance overview and to withdraw the money to the linked bank account.

A condition that, although it seeks to avoid the use of PayPal for money laundering and financing illicit activities, limits the privacy of the users of PayPal.

PayPal’s stricter regulations and higher fees may turn out to be beneficial for cryptocurrencies payments

On the other hand, the limitations implemented by PayPal can stimulate the adoption of cryptocurrencies as a method of payment for international transactions.

Especially considering the low commissions currently handled by the most used cryptocurrencies such as bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).

It is important to bear in mind that the transactions fees in the cryptocurrencies market do not depend on the geographical location where a transaction is generated or received but on the immediacy with which the confirmation of the transfer is required. A feature that leaves open the possibility of sending a million dollar transaction in Bitcoin (BTC), for example, for only 0.08 cents, of course, if you are willing to wait between 6 and 8 hours for its verification, according to the current speed of the blockchain.

It is necessary to emphasize that PayPal is a much more popular payment tool than the cryptocurrencies payments, therefore it is more common to get businesses and people willing to accept PayPal than they may have been willing to accept cryptocurrencies.

Exit mobile version