Ripple (XRP) just can’t seem to stop with positively surprising the market despite the negative market trends that have been dominating the crypto community for quite some time now. Although we can see XRP going up in the market while trading in the green at this moment, the more interesting news revolving around Ripple Foundation is having another important bank joining the RippleNet. That means that Ripple just got tested by the first bank in Kuwait for instant cross-border payments. Here are the results of the conducted tests.
Ripple to Be Used in Kuwait for Cross-Border Payments?
The first commercial bank in Kuwait, Kuwait Finance House, also known as KFH, is said to have included Ripple’s technology in numerous tests, while it was also confirmed that the staff at KFH will be testing Ripple for instant cross-border payments.
Ripple is already known for being one of the coins that has been most commonly introduced to the real-life use, especially targeting financial institutions and banks as Ripple’s systems xCurrent and xVia are specifically made to support fast transactions that move promptly from one party to the other within only a few seconds, while also having the advantage of a fully secured ecosystem that makes possible for thousands of different transactions to be processed within a matter of seconds at extremely low fees when compared to the traditionally used banking systems.
So, as it was most probably expected due to the well-known reputation that Ripple carries across the financial industry, all conducted tests made by Kuwait Finance House on the behalf of testing Ripple for cross-border payments turned out to be successful.
Kuwait Finance House Announces Joining the RippleNet
Due to the series of successful tests that have been conducted on the behalf of testing Ripple for instant cross-border payments, Kuwait Finance House, which is considered to be the pioneer in the terms of representing the first commercial bank in Kuwait, has announced that they will be joining the network known as RippleNet.
That means that Ripple Foundation now has another bank added to the map of the RippleNet, but also means that Ripple has made a giant leap towards the mass adoption in the Middle East.
With being added to the system of Kuwait Finance House, Ripple will be officially entering the market of the finances and financial technology in the Middle East, that way broadening the influential field of Ripple Foundation.
In a word, the Kuwait utilization of Ripple’s technology makes another important milestone for Ripple and the team behind this foundation.
While Kuwait Finance House is implementing Ripple’s system for instant cross-border payments that should become available for their customers any time soon, Ripple has acquired another multi-billion partnership that will most certainly broaden its influence in the Middle East.
Although it is yet not certain whether the bank will be using xCurrent, xRapid that requires the use of XRP or xVia, however, more details on the upcoming KFH/Ripple integration will be provided with the further development of the situation.
Due to the event of successfully testing and implementing Ripple’s technology in it their banking system, KFH stated that they are happy to have Kuwait Finance House to become the first bank in Kuwait to be utilizing Ripple and its technology for instant payments.
How is Ripple doing at the Current Moment?
After a brief sluggish trend in the market, we can once again witness a sudden bullish return of the majority of currencies as we can see all cryptos going up against the dollar.
XRP is following up with this trend as no exception to the latest wave of rises, so we can see it rising up against the dollar by 1.78% while trading in the green.
In addition to rising against the dollar, XRP is also going up against BTC, which means that Ripple is currently doing better than Bitcoin by 0.40%.
Following the latest change in the market, Ripple can now be traded at the price of 0.60$, with great chances to reach the first objective of 1$ very soon in case the benevolent currents of rises remain in the market for some time.
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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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A matter of time before TRON (TRX) achieves mass adoption
Tron (TRX) has all its eyes on decentralizing the internet, or rather content-sharing to ensure that creatives, artists, musicians, and authors can all release their content without the need of middle companies. As it seems, Tron’s founder hopes that the coin will challenge the globe’s major content providers like Facebook and YouTube.
The coin has undoubtedly made progress since its launch from a coin offering on the Ethereum ledger platform to now a native coin present on the official Tron Mainnet. If you think launching the independent MainNet is all Tron wanted to achieve, you are mistaken.
The aim is towards mass adoption as well as creating a decentralized web. Yeah, it is a fact that in the past weeks TRX has experienced price declines, but currently, the cryptocurrency is riding 5.37% hike against the USD in the last 24 hours (remember most of the other top coins including Bitcoin are in red).
It’s also continued succeeding in attaining quality listings such as the Bittrex (to name one of the most recent ones). Therefore, it seems as every step TRON makes is a sign of progress to make the decentralized web a reality.
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Hyperion-Stellar Partnership Finalized — Support For Stellar’s Crypto Assets Trade About To Arrive
Hyperion and Stellar: A new partnership
According to a recent announcement by Global Blockchain Technologies Corp., it would seem that the known crypto exchange Hyperion has finally made an agreement with Stellar (XLM). The new partnership is to allow Stellar’s own crypto assets to be traded on Hyperion’s platform. This move is expected to significantly impact Stellar’s price and spread awareness of the coin and its goal even further.
Hyperion uses an alternative trading system (ATS), which was licensed by the SEC. As a part of this arrangement, previously attained via investment in DBOT (Delaware Board of Trade), Hyperion has permission to also operate as a broker-dealer. It is also expected to become North America’s first advanced security token exchange.
As many are already aware of, Stellar is a trading protocol that is used for issuing, exchanging, and transferring digital assets. It works with several other cryptocurrencies, but also with fiat currencies like the USD. Additionally, Stellar also works even with some commodity assets, like gold.
Stellar’s goal is similar to that of Ripple, at least when it comes to enabling faster and better cross-border transactions. While Ripple focuses on providing its services to banks and financial institutions, Stellar aims to provide these services to individual investors. Thanks to this, Stellar has received a lot of attention and praise from individual investors, as the general interest in cryptocurrencies grew.
Why is this partnership important?
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Bitcoin Volume Improves — Is A New Bull Run About To Start?
After more than half a year of price drops and losses in value, Bitcoin’s price has finally demonstrated signs of stability. For weeks, Bitcoin managed to remain above the price of $6,550 per coin, which was followed by a small price surge that has allowed the coin to reach $6,600.
Not only that, but Bitcoin’s volume also saw a 12% increase that has taken it from $3.2 billion to $3.6 billion according to CoinMarketCap. While this state of the market did not include all the altcoins, with some of them even experiencing losses, the situation regarding Bitcoin did look promising.
However, the new situation has changed that, as both investors and analysts woke up to the news of crypto prices going down.
Bitcoin volume predictions
Cryptocurrency analysts around the world have been predicting that the recently-balanced situation regarding Bitcoin and many altcoins will not last. While some believed that Bitcoin volume will go up, others have been claiming that it will drop once again, as it has finally happened.
At the moment, Bitcoin has managed to drop below what was recently believed to be its bottom, with a new price being at $6,297. Instead of reaching milestones such as $6,800, and then $7,000 mark as many have hoped, BTC actually dropped by around 6%.
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