Connect with us

Altcoins

Ripple threat: IBM launches the Stellar-powered cross-border payment platform

Published

on

Ripple Stellar XLM

When it comes to speaking of cross-border payments, we all think immediately of Ripple, the company responsible for the creation of the third largest cryptocurrency of the market, XRP. Ripple has taken charge of developing the best solutions to improve cross-border transactions, and a proof of that is their products xCurrent and xRapid, the later one being the one that carries the XRP token to source liquidity for financial institutions.

Ripple has made great efforts to spread its products across the financial sector, but truth be told, this hasn’t been exactly a reality. In fact, many institutions have embraced xCurrent or xVia, but when it comes to adopting xRapid, it just seems like they are not that interested.

On the other, we all know Stellar (XLM) has some strong-ties tied with the tech giant IBM for many months now, and as it seems, everything is ready on their side to finally put a serious competition to Ripple’s products. Let’s find out how it goes.

IBM announcement

Just a couple of days ago, IBM announced the launch of a new project dubbed “World Wire”, a cross-border settelment platform that aims to revolutionize the financial world. The project was created in collaboration with Stellar, and it was known that the platform would use Stellar’s blockchain protocols to function.

It will mainly offer the same things Ripple was trying to with its solutions; fast transactions, the capacity of taking thousands of operations in seconds, and low costs. But the most significant difference is that IBM asseverates that 97 percent of its customers are financial institutions, or in other words, the most relevant bank entities in the world.

It was also mentioned in recent IBM announcement that IBM networks manage at least 90 percent of the total credit card settlements, so this actually represents an excellent opportunity for the crypto sector concerning adoption, and of course, Stellar (XLM) would be the primary beneficiary.

IBM declared that with the help of Stellar protocols, the company would be able to offer financial institutions a solution to settle the cross-border transactions in just a matter of seconds. The company stated that:

“faster payment processing (simultaneous clearing and settlement), lower costs, increased efficiency and simplified payment and asset type form of transaction” were about to become a reality.

It also added,

“With 97% of the world’s largest banks as clients of IBM there remains little doubt that their new flagship payments system won’t be heavily advertised to their existing customer and client base”.

The target of the payment platform will be Fintech, central banks, financial institutions, and cryptocurrencies as issued assets. The Stellar blockchain will play a vital role in the success of the project as it will help to transact with digital assets in the form of IOUs, which of course, will dispel the possibilities of counterparty risks.

Conclusion

With this new IBM collaboration, Stellar (XLM) appears as a crypto that we all need to look up for; it will surely hit the moon very soon. As for now, the crypto doesn’t show that much of an increase with a price of $0.223, and a  decrease in the price by 0.87 percent in the last 24 hours, according to Coinmarketcap. But things turned into ‘big surprises’ on either side is just a matter of time in the world of digital currencies, so stay tuned.

For the latest cryptocurrency news, join our Telegram!

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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Nick Karvounis on Unsplash

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

Published

on

Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

Continue Reading

Press Release