Of all the Blockchain companies, Ripple boasts of the most partnerships with traditional financial institutions. Its RippleNet Blockchain network is one of the most revolutionary Blockchains with solutions that include cross-border payments, instant transaction settlement and bi-directional messaging.
BankDhofar is the New member of the RippleNet
Ripple’s most recent addition is BankDhofar. With this move as it’s first-ever partnership with an Oman based bank was first announced on Tuesday. The partnership will add BankDhofar to Ripple’s portfolio of over 100 banks and financial institutions that are already on the RippleNet.
While announcing the new development, BankDhofar’s Chief Information Officer Dr. Tariq Taha said that the bank is pleased to be “the first bank in Oman to join and access more than 100 of its member banks and other financial institutions utilizing Blockchain for instant payments”.
This comes just a year after BankDhofar’s move to join ‘the leading Blockchain consortium BankChain’ in respect with the bank’s objectives towards enabling customer satisfaction and improving overall efficiency especially for customers that regularly send remittances overseas.
BankDhofar Providing More Transparency
Taha further mentioned in the announcement that BankDhofar is also looking to provide a more transparent and friction-less cross-border money transfer using Ripple’s Blockchain. In addition, Taha said that the bank will also enable ‘end to end visibility over the journey of the payment’ as one of its initiatives of improving customer experience.
With this new partnership, BankDhofar is looking to become one of the best leading banks in the Gulf area as it strives to innovate creative services and products that are custom made for the customers. Thanks to a variety of products that ripple offers , BankDhofar will have a variety of services to pick from including xCurrent (and end to end payment tracking software) and xRapid (a real-time liquidity provider for international transactions using the XRP token) which is set to be used by the global money transfer platform, Western Union.
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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.
Image courtesy of Nicolas Rénac via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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