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

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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