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Ripple (XRP) Makes it to the Middle East

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Ripple
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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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