Tag: Ripple (XRP)

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Crypto

Cryptocurrencies Market Is Declining As Japanese Regulators Announced Much Stricter Cryptocurrency Regulations

Cryptocurrencies market have generally declined today, May 7th, as concerns about Japan’s cryptocurrencies regulation have offset indications that South Korea could curb its restrictions. At the moment of this writing, in descending order by market capitalization, Bitcoin (BTC) has dropped by 1.94% in the last 24 hours and reached $9.397, according to Bitfinex cryptocurrency exchange, the Ethereum (ETH) has fallen by 5.27% to $745 in the last 24 hours, while the Ripple (XRP) has dropped by 4.64% to the $0.82 level.

Furthermore, the Bitcoin Cash (BCH), the product of a bifurcation of the Bitcoin (BTC) and currently the fourth crypto coin by market capitalization, has recorded a decline of 5.48% in the last 24 hours hitting the to $1,638 level.

At this moment, the single cryptocurrency for top 10 which is appreciating is the EOS (EOS).

Cryptocurrencies market is declining due to the announcement of much stricter cryptocurrency regulations coming from Japan

Japan’s Financial Services Agency will implement strict guidelines for local cryptocurrency exchange platforms to prevent another cyber attack in the crypto-verse, according to reports coming out at the end of the last weekend.

The FSA will present a “five-point plan” to strengthen regulations for cryptocurrencies transactions which will include stricter security standards such as double authentication for coin transfers and a system to ensure that coins are not stored in online wallets as these are prone to piracy.

A more thorough “know your customer” process would also be developed to prevent money laundering, according to reports.

Japan’s implementation of stricter cryptocurrency regulations has shadowed the more encouraging news that the governor of South Korea’s Financial Supervisory Service, Yoon Suk-Heun, is considering lessening up the local cryptocurrency regulations.

“The Financial Supervisory Service (FSS) will collaborate with the Financial Services Committee (FSC) when an inspection of financial policies and institutions has different configurations relating to different areas. FSC inspects policies, while FSS examines and supervises financial institutions but under FSC supervision,” said Yoon.

In short, cryptocurrencies market is in decline today, with all the major cryptocurrencies showing losses, due to the new announcement that much stricter cryptocurrency regulations will be implemented in Japan.

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Crypto Markets News

SBI Virtual Currency Platform, In Partnership With Ripple (XRP), Will Launch This Summer

Ripple (XRP) is doing pretty good in cryptocurrencies markets as it gained 8% today. However, it rebounded to $0.90 but is still recording a 2.26% gain in the last 24 hours. However, SBI Virtual Currency platform has just been announced to be launched during summer. The company thinks XRP is the most innovative cryptocurrency at least in terms of the improvements it can bring to the banking and remittance institution cross-border transactions.

SBI Holdings former CEO Yoshitaka Kitao, now the President of Premium Financial Services Co., is convinced that with the institution’s commercial initiative, once the company’s cryptocurrency exchange platform is rolled out during the summer, Ripple (XRP) would rank first in terms of trading.

When we do, it will be number one in the blink of an eye so quickly, so even if a large number of customers come, we can build a system that can handle it. We have to look for security thoroughly.

Yoshitaka Kitao, ex-CEO of SBI Holdings, actually President of Premium Financial Services Co.

 

SBI Virtual Currency platform, in partnership with Ripple (XRP), will be launched this summer

Both Yoshitaka’s actual company and the SBI Holdings are acutely conscious that the overall volume of cryptocurrency transactions has been cut in half from December 2017. They are very hopeful in that they will dominate the Japanese cryptocurrencies markets in a way that is secure for crypto holders.

This would follow the outrageous hacking of Coincheck after which more than $500 million in NEM (XEM) has been stolen, in Nem (XEM), by hackers and which had the Japanese cryptocurrencies regulators seek solutions from the Japanese cryptocurrency exchanges. Thus, the challenge both Premium Financial Services Co. and SBI Holdings are embarking to is huge.

Also noteworthy is that Yoshitaka Kitao was very bullish regarding Ripple (XRP) as SBI Holdings entered into a collaboration with the Ripple group in January 2016. SBI Holdings has been in business since 1999 and has spearheaded Internet-based payments and financial solutions. Not surprisingly, the company has been the first ever to associate with the Ripple company.

SBI is committed to delivering financial services in the equity, banking, securities, insurances and now cryptocurrency exchange services, as the long-awaited SBI Virtual Currency platform has just been released in partnership with Ripple (XRP).

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Crypto News

Ripple (XRP) Price Surged As Binance Listed XRP/USDT Pair On it Cryptocurrency Exchange Platform

Binance cryptocurrency exchange reported quoting the XRP/USDT currency pair, which has caused the Ripple (XRP) to increase by 8% in only 1 hour. The listing has been great tidings for Binance traders, as the majority of XRP liquidity for Binance was represented by the XRP/BTC pair. The new trading paring facilities traders straightforward entry into a “safe haven” currency that they can resort to in the event of high volatility in the cryptocurrencies market.

Ripple (XRP) rallied 8% in just a single hour today just to come back slightly towards $0.90

CryptoCompare data reported that the XRP rallied 8% in just a single hour in cryptocurrencies markets. In all XRP markets, the volumes rose substantially to $635 million in the previous 24 hours.

Ripple (XRP) is strengthening against fiat currencies

Ripple (XRP) has publicly announced that it intends to expand the liquidity and availability of its proprietary XRP token. In so doing, it has become actively market-driven focusing on XRP to fiat currency pairings.

At the moment of this article, XRP is trading at $0.90, gaining about 2.12% in the last 24 hours. Now, with the aim of supplying a reliable liquidity pool, this, in turn, reinforces the use of the Ripple and the Ripple network solutions.

Binance cryptocurrency exchange XRP/USDT listing might reduce the correlation between Ripple (XRP) and Bitcoin (BTC)

Miguel Vias, Ripple’s XRP Market Manager, was very busy with the mission of strengthening XRP’s markets and narrowing its reliance with Bitcoin (BTC). In only one year, XRP/BTC’s overall share of the cryptocurrencies market has dropped to below 25%.

Binance’s XRP/USDT listing is expected to boost this under 20%, and Ripple’s proponents anticipate that it will diminish the powerful price link between BTC and XRP which exists at the moment.

In conclusion, Binance cryptocurrency exchange has listed the XRP/USDT pair which is expected by the Ripple (XRP) enthusiasts to diminish the correlation between XRP and Bitcoin (BTC).

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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.

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Crypto News

Ripple (XRP) Awaits 5 New Partnerships – Ripple Is Consolidating Its Position In Asia And The EU

In accordance with the most recent press releases, Ripple (XRP) is earning more acceptance in Asia and within the EU as a pile of news talk about 5 financial companies which will deal with Ripple, accepting the use of the crypto’s xVia API to build a well-established and secure environment for cross-border transaction via the RippleNet.

FairFX, RationalFX, Exchange4Free, UniPAY, and MoneyMatch are called as the 5 companies which will sign up for Ripple (XRP) payments platforms.

These companies will test RippleNet and its xVia API during the next days, aiming to provide cheaper and instantaneous cross-border transactions for their clients.

The team behind Ripple (XRP) is continuously developing its payments platform

While Ripple (XRP) is earning more and more acceptance, worldwide, the team behind it makes the financial sector strive for Ripple’s platforms even more, as it is bringing new updates and innovations, day after day.

All of these customers run into the same problem: building bespoke connections to banks and networks all over the world. It’s expensive and time-consuming. xVia enables them to grow their overall market share by reaching new customers in new markets, easier than ever before

Asheesh Birla, Ripple’s Senior VP for the product

The future is bright for Ripple (XRP)

At the moment of this article, XRP is trading at $0.82, recording a slight 0.26% increase in the last 24 hours.

However, besides these 5 companies, which are new to Ripple and its platforms, the Canada-based Zip Remit and the Brazil-based Beetech, also payments processors, announced their plans to adopt Ripple (XRP) xVia API to use the RippleNet for cheaper and faster transactions.

Ripple (XRP) is gaining more and more and dealing with more financial institutions, week after week, which makes us believe the statement made by Brad Garlinghouse, the CEO of Ripple, that Ripple will be the partner of more than 50% of the world’s banks, in the next five years.

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