Ripple is one of the most talked about currencies these days, which is no wonder at all since Ripple is one of the most real-life integrated cryptos currently present in the market. In addition to this case, Ripple has been tested by numerous banks, banking institutions, and financial services, where these parties have taken over testing of XRP and xRapid for fast transactions on global levels. Although these institutions state that they have no interest in XRP as a cryptocurrency, this case is not preventing Ripple in acquiring new prospective partnerships that could sky-rocket this currency and its technology.
Ripple Partners up with Santander Bank
Two days ago, on April 12th, Ripple has announced its partnership with Santander Bank, which significantly pushed its value up in the market, resulting in the price of 0.5$ per one XRP unit, which is the highest price this currency had in weeks.
It was immediately obvious from that point on, that Ripple would be able to benefit greatly from this newly acquired partnership. Santander bank is actually one of the biggest banks in Europe, so its appreciation of XRP technology definitely adds more value to Ripple.
During the announcement of the newly acquired, and a pretty important partnership, Brad Garlinghouse stated that Ripple is further planning on realizing the idea of the Internet of Value. Apparently, Santander bank should be able to aid Ripple in this amazing venture that could revolutionize the world of cryptos.
Mentioning the word “crypto”, Brad Garlinghouse, Ripple’s own CEO stated that Ripple is not a cryptocurrency in reality, as it is also stated in the whitepaper of XRP. Garlinghouse added that this “currency” as we are all calling it, is actually a digital asset as it cannot be currency by any means if you can’t go to Starbucks and use it for paying for your coffee.
Thinking about the way blockchain technology works, we can’t miss on noticing that it works similarly to how the Internet was working as it first appeared. The Internet served the purpose of transferring and exchanging data, but at the time it first appeared it was deeply unorganized and unregulated, which reminds us of the way blockchain platforms are operating now.
The only difference is that blockchain actually has the ability to exchange real value. There came the idea of the Internet of Value that Ripple described as Web 2.0 in its official whitepaper.
On the occasion of Ripple partnering up with Santander Bank a couple of days ago, the executive chairman of this European bank, Ana Botin, stated that blockchain-based protocols for making payments are far faster, more efficient and more cost-effective while being safe and secure at the same time. The technology would allow Santander banks users to make transactions that would be available for the receiver on the same day when the initial transaction was made, which is the experience expected from a bank like Santander.
The chairman further added that they are planning on implementing this technology onto more than several markets already by the beginning of summer, which is pretty soon at this point.
Ripple and IoV
IoV or the Internet of Value has the idea of creating a blockchain-based environment that would be able to transfer value from and to anywhere in the world just like any type of information can be transferred from one side of the globe to the other with the use of the Internet.
Ripple is planning on creating such environment and it seems that this company is getting closer to making the Internet of Value into realization with each partnership they acquire, especially with the fact that they are now being used by MoneyGram and more than several other financial services and banking institutions.
The main objective the XRP has is to lower the costs of transactions while making transactions a lot cheaper and easier to process with a minimal percentage of errors and bugs present in the system. In addition, to enable everyone to exchange any type of value via their system, Ripple is also aiming at cutting the time needed for processing transactions that are being sent globally. So, with Ripple’s technology, payments can be available and processed within seconds instead of 3 to 5 days, which is an amazing progress.
Santander bank seems to be sharing this idea with Ripple, so this bank launched an application called One Pay FX, partnered up with Ripple. This application is available in UK, Brazil, Spain, and Poland and should soon become available in more countries.
This app is powered by Ripple’s xCurrent and it enables users in the named countries to send their transactions globally with only using their phone. All transactions made via One Pay FX will become available for the receiver at the same day on which transaction has been made instead of waiting for 3 to 5 days which was previously the case.
How is Ripple doing at the Current Moment?
Although XRP was doing pretty fine with the announcement of their partnership with Santander bank, which is one of the biggest banks in Europe, it seems that this digital asset is dropping once again as the majority of currencies are falling in the price as well.
After the most recent change in the market, Ripple started to trade in the red while losing -7.39% against the dollar. In addition to this case, XRP is also trading down against BTC for a bit over -6%.
With the latest change, Ripple can be purchased at the price of 0.63$, which is still far from its all-time high of 3.33$ as recorded at the beginning of January 2018.
We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up for our free newsletter!
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 Yasunari Goto via Flickr
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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. One of the ways to have a successful…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…
Bitcoin Price Breaks Above Crucial $28,000 Level Ahead of FOMC Speeches
Solana Price Outlook Amid Cautious Optimism
Bitcoin Price Outlook Ahead of Powell’s Speech
Blogs5 years ago
Bitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
Blogs5 years ago
Another Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
Blogs5 years ago
Standard Chartered Plans on Extending the Use of Ripple (XRP) Network
Blogs6 years ago
Electroneum (ETN) New Mining App Set For Mass Adoption
Blogs5 years ago
Ethereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
Don't Miss5 years ago
Ripple’s five new partnerships are mouthwatering
Blogs5 years ago
Cryptocurrency is paving new avenues for content creators to explore
Blogs5 years ago
Litecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange