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Ripple (XRP) Unfazed By RBI’s Ban To Partner With This Leading Bank In India

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Ripple
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The country of India has experienced an explosive increment in banking in the country as well as the popularity of cryptocurrencies with the general population. 80% of the adults in the country now have a bank account. Also to add is that Indians remitted $69 Billion into the country in 2017. It is with these figures that it is no surprise that the Kotak Mahindra Bank has joined the RippleNet network.

Kotak Mahindra Bank is a leading bank in India with over 1,300 branches. This makes the bank ideal in additionally using xCurrent as announced by the team at Ripple on the 27th of June. All members of RippleNet are connected using xCurrent which is a standard on the network. xCurrent enables a bank to message and settle their transactions faster, securely and in a transparent manner. xCurrent is a familiar product for many cryptocurrency enthusiasts for the Santander Bank, is using the same Ripple product for cross-border remittance payments.

The news of Kotak Mahindra bank joining the RippleNet network and using xCurrent comes at a pivotal point in the country of India. This is due to the fact that the RBI (Reserve Bank of India) issued a ban on crypto activities, starts on July 5th. This ban stops commercial banks and other registered financial institutions, from dealing with cryptocurrency exchanges and other activities including individual deposits of fiat to exchanges.

However, the ban has been appealed by crypto traders, the mentioned exchanges as well as other stakeholders. The hearing of the case has been scheduled for the 3rd of July which is a few days away and 2 days before the ban takes effect.

The Ripple company and team has shown optimism that the ban will be reversed for the RBI had openly admitted that the decision to issue the order, was rushed without them doing proper research. Also, all banks in India adhere to the Basel Norms of banking which state that each bank should have a backup remittance system that uses a different technology than the one they primarily use. This means that Ripple technology qualifies as that backup system for banks in the country.

The ruling on the 3rd of July will be a monumental one not only for India but for the entire world as such cases will set precedence for the regulatory decisions in other countries across the globe.

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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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Altcoins

3 Coins Coinbase Will Adopt Next

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Coinbase is one of the largest and most popular cryptocurrency exchanges in the world. However, throughout its existence, it was very picky when it comes to which coin it will adopt. So much so, that it has become a very large achievement to get support by the exchange.

Recently, however, Coinbase has decided to act on its users’ wishes and expand its list of accepted coins. In theory, this was a big deal, and the exchange actually started looking into a lot of coins. However, it only adopted a few of them. Right now, Coinbase is supporting Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, USD Coin, Basic Attention Token, and 0x.

Even so, Coinbase wishes to add more of them, but only after it ensured that the coins are a part of legitimate, non-controversial projects. As a result, the entire crypto community started speculating about which coins will be added next. This will also be something that we will try to answer today, by listing three projects that are the most probable candidates.

3. EOS

EOS or Ethereum On Steroids, as some like to call it, is a more than a decent project that has made headlines multiple times this year due to its progress. It managed to launch its own MainNet, which made it perfect for dApp development and smart contract creation. This makes it similar to ETH, but many…

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Bitcoin

What Will It Take For Bitcoin (BTC) To Rise Again?

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It is no secret that 2018 has been a terrible year for cryptocurrencies when it comes to their value. Things looked so bright during the first few days of this year, with Bitcoin hitting $20,086 per coin, and every altcoin reaching new heights. However, it was not to last, and soon enough, the market crashed, and prices went down.

What followed was months and months of a heavily bearish market that kept pushing the prices further and further down. It prevented any attempt of recovery, although several of them gave it their best shot.

Despite a situation like this, crypto investors never forgot the potential of Bitcoin, and many have been predicting another bull run that would have the same results. Those expectations were quite large, and potentially even unrealistic at first. Now, however, as the year approaches its end, it doesn’t seem like anything will happen. The community started to wonder why that is, and what would it take for another bull run to emerge, which is what we will try to answer right now.

What does Bitcoin need in order to have another bull run?

1. Bringing regulation

The crypto space remains highly unregulated in most parts of the world, which is one of the largest reasons why BTC remains dormant. While there are attempts to regulate it, these attempts are made even more difficult due to the fact that the market is constantly changing and…

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Altcoins

Stellar plans to Airdrop 150 Million USD in XLM to Blockchain Wallet Users

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Recently the Stellar Development Foundation partnered with Blockchain Wallet to airdrop $150 million value of XLM, to the owners of the wallet. The Block declared that the first batch of XLM would be shared this week for all users who signed up to use the Blockchain wallet.

The team behind the stellar Development Foundation hopes that this partnership will make XLM a real rival for other cryptocurrencies from the market.

The co-founder of Stellar, Jed McCaleb declared the following about the airdrop:

“We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens for free is an invitation to communities to design the services they need.

By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the network’s utility by many orders of magnitude.”

Just $25 value of XLM each

To share some respect to the worth of XLM will distribute for each user, the team of Blockchain wallet declared that after verifying the identity when signing up to the wallet, $25 value of XLM will be shared to each. Furthermore,  there will be a first- come and the first-served clause in this airdrop which says:

Offer available until XLM giveaway supply is depleted. Limit of one XLM airdrop per person, unless participating in any bonus activities.

A person can receive the XLM airdrop in only 1 Blockchain Wallet.  XLM…

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