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China could possibly enjoy Ripple Xcurrent this year

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Xcurrent

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.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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