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Ripple (XRP) Makes it to the Middle East

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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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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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