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Ripple targets China and Germany, SBI Japan investing in Sendo plus xRapid news

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Ripple XRP

In the quest to become the preferred cryptocurrency in the market several virtual currencies are employing different marketing methods to ensure and push their currencies to be in high circulation. Ripple (XRP) is not any different from other virtual currencies.

From the look of things, Ripple is poised to become one of the ideal digital assets for profit-oriented organizations in the next couple of years as the digital asset continues to extend its portfolio of partnership with major financial institutions and banks all over the globe.

For the record, Ripple’s xRapid and xCurrent products have been accepted and incorporated by over 100 banks globally with even more financial institutions finding convenience with Ripple’s blockchain technology.

These financial institutions and banks strive to take advantage of the low fees and fast transaction speeds being offered by the Ripple’s blockchain technology driving up demand for the digital coin and its value.

German financial institutions and banks have been on the radar of Ripple’s growth strategy. In a recent interview in Berlin, the Head of Banking in Ripple, Marjan Delatinne, disclosed Ripple’s intention to expand in the European nation saying they are in talks with several German banks. Marjan was responding to a question regarding Ripple’s overall partnership strategy and presence around the globe from the US, Japan, and other European countries. She said,

“We are actually in communication with many German financial institutions and banks also.”

Marjan is renowned in the financial sector being a former business director at SWIFT before moving to Ripple Inc. He is taunted to bring onboard a lot of promise and experience to the blockchain driven organization.

At the moment, Ripple is in partnership with the DZ Bank AG owned bank known as Riesebank. DZ Bank AG is the 3rd largest bank in the European country judged by its asset size having over 100 branches to its name across Germany.

The bank is also a central institution for over 1,000 co-operative banks and their over 11,000 branch offices. Ripple is talking to other banks on their possibilities of partnering with Ripple Labs giving hope to crypto enthusiasts the possibility to see blockchain driven economies.

Ripple Expansion Plans for China

Apart from Germany, Ripple Labs is also looking at ways to enter the Chinese market to further expand its currency circulation and its distributed ledger technology (DLT).

By doing this, Ripple will be able to increase the speed of cross-border settlements in a more secure way, Ripple’s vice president of European Union strategic accounts, Jeremy Light, told CNBC on 15th August.

“Definitely, China is a country and region of interest”      

Unlike other virtual currencies and blockchain technologies, Ripple strives to serve as a payment processing platform that may work without necessarily relying on it default currency, the XRP token. Ripple Inc. wants to separate the two, Ripple and XRP, to be different entities.

Some of the financial banks and institutions Ripple (XRP) has partnered with across the world include UBS, Standard Chartered Bank, Santander, American Express, UniCredit among many others.

So far, Ripple has managed to penetrate the Asian region in small proportions, but the most notable one happens to be with a Japanese consortium. The partnership features 61 banks for the development of a new smartphone application.

Many crypto experts expect Ripple’s penetration in the Chinese market to be a challenge going by the culture of the Chinese authorities to promote local products and inventions.

Currently, the Asian powerhouse has Tencent in operation, Tencent is the institution behind many smart applications including WeChat and is a leading payment and communication system in China that works closely with Shenzhen tax authority.

Tencent recently did a demonstration on their new blockchain based payment platform that offers features such as automatic company settlements.

SBI Japan Investing in Sendo

Thanks to Vietnam’s booming e-commerce market, Japanese financial powerhouse SBI Holdings, and other Asian-based institutions are willing to invest to Sendo Technology, a Vietnamese online marketplace, a total of about 51 million US dollars.

The hefty investment is sure to go a long way in revolutionizing how e-commerce business is done in the Asian country.

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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.

Image courtesy of Pixabay.com

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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