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European Central Bank launching its allegedly Ripple powered instant payment service next month

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After the long-awaited system in the market, finally, clients who enjoy transacting money using the digital platform can now rejoice after the alleged Ripple partner and Pan European infrastructure, Target Instant payment settlement is expected to go live next month, November 2018.

The European Central Bank is the leading financial institution for European countries administering monetary policies in the European block, which is comprised of 19 EU member states. The Euro is currently one of the strongest currency in the world.

The great news came from Equens world Line, a pioneer with the primary objective to deal with instant payment and money transaction operations. Giving the story on their tweeter account, they informed the followers on how they were going to go live in next month and continued to advise the followers on the expectations, and how the innovation is going to revolutionize Europe when it comes to technology.

The primary purpose of Target instant payment settlement will be to create an instant payment system all over Europe using the central bank as a channel to regulate the transfer of settlements enabling the transmission of digital money across the border and Europe as a whole. And as ‘instant payment settlement’ term is attached to the service, multiple anonymous sources have reported that they have turned to Ripple blockchain.

Some of the benefits of the system will include no minimum wait during the transaction process, available transaction settlement all over the clock for its customers hence clients can access their finances throughout and make payments with ease of any delay. The surprising fact about the instant payment system is that it allows the currency to be settled in the bank at any time creating an all-time all access system.

The will also be an elimination of time wastage between the client and the bank as the financial system money transactions will be updated instantly avoiding any credit risks among the clients (another hint of Ripple involvement, right?

That’s exactly what the blockchain project has been pushing to do to banks). In addition to that, all the service providers could now be happy as they will be reachable without actually opening an account with TIPS. Hence one can be a non-member and still operate using the settlement system.

Consequently, the instant money payment settlement scheme will allow the movement of currency from one financial provider platform to the other without the need of any clearing services. These clearing services could be the main reason why there was a delay in the transaction in the traditional system payment systems. This system is an improvement from other conventional methods that one had to do the clearing before the settlement takes place.

After the announcement, some people were very excited and took to Twitter for replying to the great news. Understandably, some followers thought that it was Ripple instant payment system.

The euro system decided to incorporate TIPS due to its fantastic experience to incorporate payment settlement and matches its object that is to enable innovation and extension regarding technology to the European countries. Even if Ripple is not involved in this case, the fact that the central bank is regulating the system is a big win for the cryptocurrency sector as now more people will be willing to transact money globally without fear of insecurity.

The leading institutions that are going to benefit from this move in December are the credit institutions that ate implemented and situated in the European economic region or outside the area provided that they operate through an institution run by the European economic region and all national central banks of the European Union.

Although it will use euro for settlement, this will be one of the most significant milestones that could ever happen in euros technology concerning the world of digital currency. The involvement of Ripple blockchain is yet to be confirmed, but the nodes match quite well.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Property Loans for Foreigners in Singapore That You Must Know About

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Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
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CoinField Launches Sologenic Initial Exchange Offering

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CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited…

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Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

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Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

Performance

The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…

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