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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

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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