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Exclusive: Ripple (XRP) to be exhibited at SWIFT’s Sibos conference

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Ripple

The Sibos 2018 is in session. It’s the world’s most important conference on financial services. This year’s theme is “Enabling the digital economy,” and one of the options included is none other than Ripple. This is important as it’s bringing blockchain technology as a mainstream option for banks and financial institutions which are, traditionally, prone to be very conservative and to reject changes in their way of doing things.

The conference’s organizers have chosen four themes to flesh out the way in which financial institutions must adapt to the new digital world regarding services:

  • The way in which data, artificial intelligence, and robotics are pushing services and innovation forward, and how they are forcing for business models to renew.
  • The new technologies and paradigms that can tackle financial crime by sharing relevant information.
  • Facing the challenges posed by cybersecurity in the new digital economy.
  • Adaptation to the world’s new geopolitical and regulatory priorities.
  • Sibos is being held at the International Convention Centre (ICC) at Sydney, Australia. It’s the third time the conference is held in this city, which is a good scenario for Sibos because this is a city that combines energy, innovation, and infrastructure. It’s the 40th event of its kind, and Swift organizes it.

Here’s the exciting thing: SWIFT is the currently dominant system for international money transfers and payments. Should you want to send money from the USA to, say France (or Mexico, or Indonesia), the operation would be done using SWIFT, and this is the institution that sponsors this conference.

Ripple is trying to take over SWIFT‘s business by using a combination of blockchain technology, partnerships with many of the world’s banks (called RippleNet), Ripple’s native software platforms (such as xRapid) and Ripple’s native cryptocurrency, called XRP.

https://twitter.com/BeatboxThe/status/1047810632882565120

Inside and outside of the cryptosphere there’s been a lot of skepticism about Ripple’s obsessive mission to insert itself into the traditional financial system. Traditional banks do not trust cryptocurrencies because they are very conservative and the crypto market has been very volatile since its inception.

On the crypto community side, the skepticism is rooted in Bitcoin’s original mission, as stated by Satoshi himself: to get rid of all fiat currencies and the world’s financial system, so for crypto purists, Ripple is working for the enemy, so to speak.

Ripple to be exhibited at SWIFT's Sibos Conference

Ripple takes on Swift at Sibos 2018 | Source: Sibos

In any case, the fact that Ripple has been chosen for inclusion in a mainstream event such as this is good news not just for that project but also for all crypto-coins. It means that the world, at long last, is paying attention to all the benefits that any traditional business (banks, in this particular case) can get from adopting the blockchain.

It’s a potential recognition from the banks that the world is changing and that they must come up with new strategies that can deal with the modern world’s needs. If there’s one thing for you to take away from this piece of Ripple news, it’s quite simple: cryptocurrencies, blockchain technology, and the crypto world are not a weird hobby for nerds anymore.

The world is paying attention, and some of the world’s most influential industries are incorporating it into their business model. This is great news for the crypto community as real-world usefulness can only create demand for XRP and other tokens and that will drive the market up.

For the global insights every crypto trader must have, apply for Elite membership!

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 Swift.com

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A Guide to Exploring the Singaporean ETF market

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Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.

The Singaporean ETF Market: Exponential Growth

The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics. 

One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.

The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.

Regulatory Landscape and Investor Protection

The Monetary Authority of Singapore (MAS) is the…

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Property Loans for Foreigners in Singapore That You Must Know About

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property loans for foreigners in Singapore

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • When you are applying for a loan with a Housing…
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CoinField Launches Sologenic Initial Exchange Offering

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Sologenic

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…

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