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Ripple CEO: Next year banks will provide custody solutions for digital assets




In recent time, there have been massive developments surrounding Ripple and blockchain technology. This continuous development could not be perceived as practical when anyone could talk about it last year.

Last year, the Chief Executive Officer of Ripple, Brad Garlinghouse mentioned how financial institutions like banks were going to integrate Ripple in their payment settlement, but his Public Relations team thought he was projecting little too high. In his statement at the SG FinTech festival 2018 that happened recently, Brad highlighted some of the series of developments that have taken place in the digital currency world.

Recently we have seen Ripple being implemented in the financial systems of major banks around the world and now its clients can send money across the border using the blockchain technology with ease – thanks to its framework.

Ripple, since being implanted in 2012, has been offering superior innovative implementations that have never been experienced leading to the continuous improvement of financial systems across the globe. This has had a positive effect on financial systems as transactions are done faster and efficiently enhancing customers trust in financial institutions and systems.

Considering the recent partnership between the Pan European Infrastructure, Target Instant Payment Settlement, and Ripple, it is expected the combination of the two efficient and effective systems are going to have positive outcomes.

Many Ripple clients, as well as European clients, will be able to utilize digital currencies as a medium of transacting virtual assets between digital platforms thereby increasing the use of digital money all over the world. It clearly shows how fast and advance in technology Ripple is moving.

The Pan European infrastructure is implemented in the Central Bank of Europe which currently is the head of the financial sector for European nations that use and implement European monetary policies in the region. It is composed of 19 countries that are member’s states of the European Union. The Euro is also termed as the most reliable currency in the world.

The sole purpose of the Target Instant payment system will be to create an instant platform that will enable the transaction of digital currencies all over Europe using the Central Bank of Europe.

The Central Bank will act as a  pathway that will facilitate the regulation of the transfer of settlement from one place to the other hence enhancing the transmission of cryptocurrency across the border, the world, and Europe. The current development will make it easier for many users to switch to Ripple blockchain as compared to other payment systems with time.

Ripple Blockchain Next Year

According to the CEO, financial institutions and banks will provide custody solutions for digital assets in the coming year. These custody solutions are products that are offered by the third party for storage and security purposes. Its introduction is with the expectation that it acts as the missing link between fund managers and investors who are seeking entry into the market.

With the development of banks, there will be more investors that will be willing to use digital currencies in their daily transactions.

If there is a possibility in the near future for IMF and Ripple Blockchain partnering and integrating their systems, it will spell good tidings in the entire blockchain and cryptocurrency ecosystem.

These could be very beneficial to the digital and financial world as it would mean that the instant digital payment system will be performed in the IMF system thereby being recognized globally and be utilized by users from different nations to transact their digital currencies across borders creating a great revolution.

With these continuous changes taking place, no one can disagree that Ripple will have a brighter 2019 considering everybody’s interest is in the adoptions and partnerships that are set to revolutionize the digital world in a big way.

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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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Ethereum Price Dips as Markets Digest Latest Fed’s Interest Rate Decision




Ethereum price has been hovering around its highest level in 7 months for the past few days amid a boost in the crypto market. ETH has jumped more than 49% in its year-to-date price, increasing 5% in the past week. Ethereum’s total market cap has slipped by more than 3% over the last day, while the total volume of the altcoin traded increased by more than 6%.


Just like most cryptocurrencies, Ethereum price found support in the recent fiasco in the banking sector. The recent vulnerability in the banking sector pumped liquidity in the global crypto market as investors shifted to other assets such as cryptocurrencies. Bitcoin, the largest cryptocurrency by market cap, saw its price hit its highest level in 9 months, while Ethereum jumped to a 7-month high.

The global crypto market was in the red later on Wednesday as investors chewed on the Fed’s latest interest rate decision. The Federal Open Market Committee (FOMC) announced on Wednesday a 25-basis point hike in the federal funds to 5%, down from 4.75%.

According to a statement by the US Federal Reserve, the FOMC remains highly attentive to inflation risks as it seeks to achieve an inflation rate of 2%in the long run. The Committee also announced that it anticipates additional policy firming to help in attaining a stance of monetary policy to aid in achieving the 2% target.

According to the Fed’s…

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Bitcoin Price Jumps to Highest Level in 9 Months on the Back of the UBS Merger Deal




Bitcoin price has been hovering above its highest level since June 2022 over the past few hours. The largest cryptocurrency by market cap has jumped by 28.30% in the past week, while its year-to-date price inches higher to 70.63%. Bitcoin’s total market cap has increased by 4.77% over the last 24 hours to $547.7 billion, while the total volume of the coin traded rose by 50%.

BTC Skyrockets

Bitcoin price was rallying on Monday as most altcoins slumped, led by the largest altcoin by market cap, Ethereum. The global crypto market cap has increased 2.49% over the last day to $1.18 trillion, while the total crypto market volume jumped 34.88%. Bitcoin’s dominance inched 0.98% over the past 24 hours to 46.34%, its highest level since June 2022.

The recent global banking crisis in which three major banks in the US were closed within days has pushed the BTC price higher. Silvergate Capital, Signature Bank, and Silicon Valley Bank recently disclosed operational difficulties, prompting regulators to shut them down.

Switzerland’s largest banking institution, UBS, announced on Sunday that it had entered a merger deal with its embattled rival Credit Suisse. UBS announced that it would buy its rival for $3.25 billion, with Swiss regulators playing a key role in the ideal. According to the Swiss National Bank, the merger will secure financial stability and protect the Swiss economy.

Bitcoin reacted positively to the news, cruising…

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Solana Price: Technicals Point to a Sell




Solana price joined in on the recent rally in the global cryptocurrency market, jumping nearly 17% in the past week. Solana has made substantial gains this year, climbing 102% in its year-to-date price. SOL ranks as the 11th largest cryptocurrency after Binance USD and ahead of Polkadot. Despite the altcoin’s recent rally, the total volume of the coin traded has continued to dwindle.


Solana price was trading slightly higher on Friday as Bitcoin and other altcoins extended their rally despite the bank contagion fears weighing on the markets. Bitcoin and Ethereum have been leading the recent rally in the market, jumping more than 30% and 20% in the past week, respectively.

Investors have welcomed the resilient crypto prices amid the recent crisis in the banking sector this week. The week started with the collapse of Signature Bank and Silicon Valley Bank on Sunday until the focus shifted to Credit Suisse and First Republic Bank. Traders have been digesting the fate of Credit Suisse even after the bank said that it would borrow up to 50 billion Swiss Francs from the Swiss National Bank.

Several analysts have linked the recent rally in the crypto market to lingering bank worries. Even so, crypto prices are heavily influenced by inflation and the Federal Reserve interest rate hikes. According to analysts, the recent decline in banking stocks points to the vulnerability of traditional institutions, raising liquidity concerns…

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