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Ripple investors look for a boost as another xRapid partner confirmed

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As much as working and living far from is hard, sending your loved ones money home should not be. Ripple’s xRapid is the solution that is determined to make the cross-border transactions not only less costly but also faster. A lot of companies are trying to integrate this project to make their transactions efficient.

Yesterday, it was confirmed that SendFriend, the only international remittance platform based on the distributed ledger (blockchain) is using Ripple xRapid blockchain technology.

Boost for SendFriend

The primary objective of SendFriend is to reduce the costs as well as improve the overseas workers’ lives who send money back home to their families. To ensure that they make smooth delivery of their services, the blockchain-centered remittance service has leveraged Ripple’s xRapid.

SendFriend being the only with a distributed ledger technology allows the transfer of funds across the border with its app. It merely slashes the remittance cost up to 65% by leveraging the blockchain technology.

The firm is backed by several top companies such as MIT Media Lab, Barclays, TechStars, MasterCard Foundation, and Mahindra Finance. The partnership ensures that instant cross-border transactions are as good as they say.

Also, the firm is an award winner of MIT Media Lab Translational Innovation Alliance and consists of a team that has Ex-MoneyGram as well as Ex-world Bank staff members who both seem to be passionate to bring transformation to individuals with technology.

According to David Lighton, a well known American banker, as well as the CEO of SendFriend, the partnership with xRapid will allow them on the back end to be highly efficient with the capital. He added that there all would be real-time settlements without any pre-funding or packing money in the receiving corridor as well as managing all the foreign exchange risks.

As things stand, it seems that several companies are on the move to integrate xRapid; all credit to its raw speed that has impressed almost everybody. Ripple blockchain tech is bank-friendly which makes it easier for most banks to have a thought about it. Perhaps, for SendFriend, it’s now the smartest move to enable their customers sending money to the Philippines cheaply and quickly than before.

Also, CCID (China’s Center for Information and Industry Development) released an update of their list ranking cryptocurrencies just recently, where they named Ripple as ‘innovative’ project, which tells the company is making accountable waves now as people around the world are starting to see it as a genuinely innovative entity that’s poised to solve real-world problems. And, what Ripple’s xRapid is solving is a trillion dollar problem, the cross-border settlements.

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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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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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Bridge Mutual Announces Partnership with Plasma.Finance to Strengthen DeFi Insurance

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Bridge Mutual, a decentralized insurance provider, has announced a collaborative partnership with DeFi aggregator PlasmaPay and Plasma Finance allowing users to directly fund or provide liquidity through the Bridge ecosystem and the Plasma Finance platform.

Bridge Mutual will also use some of its own liquidity to start a PlasmaPay insurance pool, integrating shield mining in order to give users the chance to earn PPAY tokens as a reward for providing coverage to PlasmaPay. The result is an increase in users on the decentralized insurance platform for Bridge Mutual, and another dimension of safety for PlasmaPay and Plasma Finance users.

“This partnership will give both organizations the ability to expand operations into the other’s platform, a net benefit for two strong projects looking to optimize the DeFi market as a whole,” notes Ilia Maksimenka, PlasmaPay’s CEO, “Ease of use and access to insurance ultimately benefits users. By working together, Bridge Mutual and Plasma Finance take DeFi a step forward towards more reliable financial services on the blockchain.” 

Bridge Mutual CEO Mike Miglio adds, “The main focus of our partnerships is to increase the overall safety of the DeFi space by encouraging users to protect each other. Partnering with PlasmaPay was strategic in that users will be able to easily purchase or provide insurance directly from the Plasma Finance app where they manage all…

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Dignitas Joins Zytara Lineup, a Step Towards Uniting Esports and Blockchain

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Esports icon Dignitas has come together with fintech company Zytara to tackle payments and value transfer within esports using the DigitalBits blockchain.  

Dignitas’ partnership with Zytara is the first major alliance between esports and blockchain, a combination set to overhaul the esports’ financial mechanisms.  Zytara, a fintech launching a digital banking platform and payment network for gamers and esports enthusiasts, will leverage the DigitalBits blockchain to power the use of stablecoins and other digital assets.  

Despite their global scope, esports organizations still struggle with traditional payment rails.  Notably, Epic Games experienced difficulties distributing some of their $100 million prize pool for Fornite tournaments.  With esports growing rapidly, this is something that must be addressed, and it appears that Dignitas and Zytara are coming together to lead the charge.   

Dignitas has championed many firsts for the industry, being the first ever esports team to be acquired by an ownership group of a North American sports franchise, Harris Blitzer Sports & Entertainment (HBSE).  Dignitas would later go on to sign a first-of-its-kind sponsorship deal with Susquehanna International Group, LLP (SIG), one of the world’s largest proprietary trading firms.    

Zytara will issue a series of Dignitas-branded debit cards and app skins, featuring the…

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