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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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