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
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.
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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.
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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.
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