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How Ripple (XRP) xCurrent is Boosting American Express Transaction Speeds

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Back in December and amidst the peak period of the cryptocurrency ‘mania’, Ripple (XRP) and American Express ‘shook hands’ in a partnership that was one of the many that highlighted that period. Other Ripple partnerships announced in December were with Santander, Western Union, and Moneygram.

In the case of American Express, not too much was disclosed in terms of which Ripple software solution was going to be used with their payment processes. All speculation hinted at xVia or xCurrent. But a recent news development has revealed that it is indeed xCurrent that American Express is using. This is the same software solution seen to power Santander’s OnePayFX app.

What is xCurrent?

xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles.

How is it helping American Express transact better?

Representatives of both Ripple and American Express were at the recently concluded Money 20/20 event in Amsterdam. In one of the panel discussions, they talked about the payment challenges faced by SME’s (Small and Medium Size Enterprises). Ripple products were identified as being the best suited to solve the issues faced by such businesses.

American Express also understands the payment challenges faced by SME’s for their cards are used at most POS (Point of Sale) systems owned by the same businesses. Marcus Treacher, Ripple’s SVP of customer success, explained that:

“The consumption of Ripple technology is not a heavy lift for SMEs. This is because we’re implementing within the existing payment networks and banking world.”

This was in reference to the fact that American Express integrated xCurrent into its already existing infrastructure for global payments. This means that transactions done using AMEX cards will be as fast as those witnessed in the live demonstration of Santander’s OnePayFX mobile app.

In conclusion, American Express has clarified what Ripple product is being used to make payments on their platforms faster and more efficient for its customers. This means that xCurrent is gaining strides and real-life problem-solving situations as can be seen with both Santander OnePayFX app and now, American Express.

Colin O’Flaherty, American Express’s VP & General Manager of global commercial services UK & Russia, best summarizes this when he was quoted as saying:

“We’re still in the early stages, learning a lot. And blockchain offers a big opportunity to solve real customer needs.”

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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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We know what the Institutions are saying, but what are they doing?

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Many of us hear that institutions are buying tons of BTC, XRP, and other top 20 cryptocurrencies.  The thing is how much truth really is there to that when we cannot even see the market moving in any direction other than on a downtrend. Right now, many do not know this but there is the OTC or the over the counter exchanges that exist. These exchanges like OTC trading desks do the trades off the market hense over the counter. This means that it functions in the same way the black market functions as when you sell these items it is essentially off the books so to speak.

Why does all this matter? Have any of you seen this VIDEO with Tekka Tiwari. Here he explains what I love to say as listening with your eyes. He goes on to show how Wall Street legally manipulates the market, they throw out in the media and go into the limelight and bash the said stocks, or bitcoin. The result is that of them falling drastically as many panic sell the asset. While everyone is selling off tons of their assets when it gets close to the bottom, similar to where cryptocurrency is currently they buy it in droves. He explains how this is exactly what happened in the…

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Why Is Coinbase Stalling With XRP?

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For a cryptocurrency project, getting their coin to Coinbase is one of their biggest goals. However, the popular exchange has become infamous over the years for only accepting a handful of top-ranking coins, while other ones were deemed unsafe for listing for various reasons. In the first half of 2018, however, Coinbase decided to distance itself from this old way of looking at things, and it has even announced that it will look into numerous altcoins, in order to locate and list the best among them.

Since then, the exchange has kept its word, and while it did not add dozens of new coins, they still did open up to a few projects, such as 0x and even Zcash.

However, for all this time, there was no mention of XRP, a cryptocurrency formerly known as Ripple, which is currently the second largest coin by market cap. Despite high demand, constant requests, and alike — Coinbase did not even consider adding XRP.

That is, until several days ago, when numerous reports of Coinbase considering another group of altcoins emerged. While the XRP community was very excited to see XRP listed as a candidate for a potential listing, many believe that it is still not going to happen.

Why Coinbase doesn’t want to add XRP?

As mentioned, the XRP community has been asking for the addition of XRP for…

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Why 2019 Will Be A Big Year For Crypto

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As 2018 is getting close to its end, a lot of crypto investors are turning their gaze towards the future. Considering the crypto bearish trend that has dominated this entire year, not to mention two big market crashes, it is of no surprise that everyone is more than ready to leave these harsh events behind.

However, a few questions still remain unanswered — what to expect in 2019? Is the situation going to change, or will there be just more of the same? Is investing now, when the prices are low, a good idea? These are the issues on every investor’s mind right now.

What to expect in 2019 in terms of crypto value?

Understandably, after a year such as 2018, expectations of the future are quite high. The crypto scene is still in its infancy, as many analysts have stated numerous times. Add a few more issues, such as regulatory uncertainty, mistrust coming from institutional investors, and constant hacks, scams, and theft that have been a significant factor in this and previous years, and it’s no wonder that the market keeps crashing.

However, there is more to it than that. Due to high volatility and no real control over cryptocurrencies, a massive bull run of 2017 brought cryptos to heights that were not supposed to be reached that early. Because of that, some analysts claim that, what…

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