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No Choice Left for Banks — They have to Turn to Ripple and XRP

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Cryptocurrencies’ fight for survival and relevancy itself bears more fruit with every passing day, and according to some experts, this will likely continue. Not only that, but leaders from institutions such as Mercury FX, Euro Exim Bank, and TransferGo recently gathered in London at the Ripple Regional event, discussing why this is the case.

According to them, more and more institutions will start turning to cryptocurrency in the near future, with even banks slowly losing the option to choose. After they start understanding the potential benefits of going crypto, they will have no other choice but to join the ever-growing group of crypto-friendly banks. And, which cryptocurrency is going to benefit the most, according to them? XRP.

Why banks have to turn to Ripple and XRP

According to Euro Exim Bank’s head of Compliance and Operations, Graham Bright, Ripple products may crucial for the banks to remain relevant in the future. Bright spoke of their effectiveness, stating that Euro Exim has set up a goal of making sure that their customers can get reliable, fast, and trusted service, which is also secure. He also pointed out that all of these points can be achieved by simply implementing blockchain technology.

Numerous banks around the world have already adopted Ripple’s XRP-fueled xRapid, which helped expand their businesses and improve the quality of their services. Examples of this can be observed in numerous areas of Africa and East Asia. The old technology that banks are still using for moving funds is costly and slow, which makes it obsolete in the rapidly advancing era of blockchain and crypto.

Bright stated that Euro Exim chose to turn to xRapid early in order to move funds “as quickly and as cost-effectively as possible.” This is what allowed Euro Exim to increase its own international business.

Blockchain adoption is on the horizon

Alastair Constance, the CEO of Mercury FX, also spoke at the conference, stating that the xRapid-based payments are a lot faster and a lot cheaper than they would be if they were sent through the old system, SWIFT. However, the advantage of turning to Ripple and its products goes beyond speed and transaction costs — it also allows businesses to reach markets that were previously inaccessible.

Constance also explained how Mercury FX entered blockchain trials unsure of what to expect. The results amazed the company when it realized the potential of using Ripple technology combined with XRP cryptocurrency.

Ripple itself has been claiming that there is huge potential in this tech for a long time now, and the company expects that others will come to the same conclusion as they, Mercury FX, and others, in following years.

The demand for swift cross-border payments is constantly on the rise, with companies and individuals alike searching for ways to send payments quickly and cheaply. What’s more, sending payments via xRapid would eliminate the need for third parties, which is significantly lowering payment fees. The only conclusion is that the search and demand for blockchain-based solutions is about to skyrocket, with Ripple and XRP being at the center of the explosion.

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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

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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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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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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