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Coinone Enters a New Partnership with Ripple (XRP) to Use its xCurrent

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Ripple

One of the biggest cryptocurrency exchanges from South Korea, Coinone Transfer, is about to enter a partnership with Ripple (XRP). By doing this, they will become the first Korean company with access to RippleNet, as well as Ripple’s xCurrent. This will be done so that the company can launch a new remittance service called “Cross”.

Coinone enters a new partnership

Coinone is among the three biggest crypto exchanges in South Korea, and the company just made a big step on its way to expand its business. Only yesterday, this exchange became the first South Korean company to get access to RippleNet by entering a new partnership with Ripple. Their goal is to use Ripple’s product called xCurrent for launching “Cross”, a new global remittance service.

Coinone handles more than $97 million when it comes to their daily transactions, and they claim to have over 643,000 regular users. Not only that, but the exchange is also one of the members of a financial group called DAYLI. Additionally, its subsidiary, DAYLI Intelligence, also made a very significant move last year when it entered a partnership with SBI Ripple Asia in order to help Korean market enter the blockchain business.

The exchange’s new partnership will allow it to use xCurrent, which is an excellent way to move small, as well as large payments across the border. The cost is low, and the service is fast, which can be very useful for day-to-day business, as well as for individuals who just wish to transfer funds to family and friends.

As said previously, Coinone will use xCurrent to launch Cross, its new remittance service. The service’s aim will be to transfer money all over Southeast Asia by taking advantage of Ripple’s blockchain. Eventually, it is expected that xCurrent will even become a new framework for Cross.

It is expected that Cross will be ready for a launch in June 2018.

Both sides are excited

Wonshee Shin, Coinone Transfer’s CEO, has commented on the new development and has stated that the exchange is proud to be the first one that will join RippleNet. Ripple’s product will especially bring a lot of change to the way money is being transferred in this part of the world, and it will completely revolutionize it. Transactions will start moving much faster, in real time, while the cost of transferring funds will be much lower than before.

Ripple’s director of joint venture partnerships, Emi Yoshikawa, welcomed the exchange into Ripple’s network and said that companies like this, who are leaving traditional payment methods for the new ones are the ones that are revolutionizing the money transferring business. Ripple is excited about entering this partnership and helping out this exchange.

As for Ripple, it currently trades at $0.78 and has a market cap of around $30 billion. This places it on the 3rd place on the list of cryptos. Another thing to note is that Ripple’s price dropped within the last 24 hours, and the drop includes around 6.62%.

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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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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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