Ripple seems to be on a winning streak lately, this time, with the audacious intention of opening to Chinese markets. The company is already negotiating with local banks entities, regulators and payment providers about launching its most recent product, Xcurrent.
The leaders of the company seem pretty confident about the potential embracement they can witness in China, therefore, they’re only waiting for the definite yes to start their operations in the country.
Some other breakthroughs to come this year
The regulatory figure of the company for the Asia Pacific, Sagar Sarbhai, stated that still there are lots of breakthroughs to come this year regarding the Chinese partnership; and that in order to settle in the market they are planning some differentiating actions and educational activities for the citizens to learn about the coin and its benefits.
In the same way, the representative of Ripple in Asia said that due to some lack of clarity of information related to cryptocurrencies and Blockchain the process in the country had become slow, but they expect to overcome this issues very soon.
Some regulatory clarity is needed
Although the CEO of the company affirmed that the launch in China would be a total success, on the other hand, Sarbhai has stated that some regulatory clarity is needed in order to start operating. Regarding this, the company has been restlessly engaging itself with the financial entities in the country, explaining the benefits of Ripple, what they are envisioning and how it works.
Besides, Sagar Sarbhai stated that the company has already a group of clients in the oriental continent, including Thailand, India, and Japan; in fact, they have regular business meetings with most of the region’s countries, accomplishing at least a one per week bank approaching, he said.
An alliance that could help entering the Chinese market
Ripple has recently partnered with the money transfer company located in Hong Kong, LianLian; a company that through the collective work will be now able to process payments related to e-commerce and invoices of companies that use RippleNet.
This could represent a perfect opportunity for Ripple to enter the inbound payment market in the country, although the company didn’t have a presence in Mainland, China for the moment of the alliance.
Despite the difficulties, even Sarbhai has stated that he’s very enthusiastic about working with China, and as he thinks, this represents a substantial move on the strategy the company has established for the Asia Pacific Region.
However, it also represents a risk for the company as the country has recently imposed some regulations on transactions, and a potential financial war between the United States and China is always on the table.
Impact of trade sanctions
GTR reported recently that Fintech companies in America could be very vulnerable while transacting between two of the most important economies at the moment, the United States and China.
Nonetheless, Sarbhai stated regarding this that currently, this isn’t a discussed issue on the negotiation process with the banks and local entities; and as he sees it, Ripple will not represent a threat for any government if the regulator does not see any risk in the adoption of the software.
Ripple XRP is headed south
Ripple volatility has been an important issue lately, and even when the company is trying hard to make clients on a regular base, recently it has decided to go south, in consonance of what other cryptocurrencies are doing regarding the current crypto scenario.
Right at the start of the year, it was thought that cryptocurrencies were finally positioned; however, as later was shown, all the cryptocurrencies including Bitcoin suffered significant losses. This is attributed to the tariff war the US seems to have started, a fact that everyone around the world noticed and is worry about.
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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 Pedro Szekely via Flickr
What Changes May the Crypto Space Experience in 2019
After the crypto hype of 2017, a lot of newly-arrived crypto enthusiasts were caught off-guard by the price crash and bear market that took over in 2018. One month after another, investors were waiting for things to change, and for another bull run to take place. Unfortunately, this did not happen in 2018, and while the year’s final days were seemingly stable, the rally everyone wanted to see has failed to arrive.
However, crypto investors remain optimistic, with many of them hoping to see some changes arrive in 2019. There are rather great expectations of this year, especially since the last one failed to deliver. However, many are interested in what exactly is to be expected in this year, which is what we will talk about today.
Bitcoin ETF approval
The US SEC’s decision regarding Bitcoin ETFs was one of the most anticipated events throughout 2018. Sadly, the decision constantly got delayed, and the SEC never actually provided an answer. The last delay has pushed the decision into 2019, and it is now expected to arrive on February 27.
Historically, the SEC was never ready to approve Bitcoin ETF, and many believe that the delays came due to the fact that the market was not ready for then in 2018. This is backed by the fact that the SEC rejected multiple application throughout the year. VanEck and SolidX…
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
One thing that is expected is the approval of Bitcoin ETFs…
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