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.
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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 Yasunari Goto via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…