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Strong ODL and XRP Growth, 2020 ‘Was a Success’

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Ripple launched On-Demand Liquidity using XRP in 2018. Since then, the firm now has over 24 clients including Azimo and MoneyGram.

Ripple CEO Brad Garlinghouse insisted that the company is committed to the XRP token as the “key behind RippleNet”. He was speaking in the opening keynote at the 2020 Swell conference. Brad confirmed that in the 3 years that RippleNet has been live, more than two million transactions have been completed with a nominal value of at least $7 billion. Ripple ODL and XRP were utilized in almost 20% of all these transactions.

They represented a nominal value of almost $2 billion. According to Garlinghouse, the two are essential to Ripple’s global expansion and longevity. He commented:

“It’s also clear to me that XRP is the key behind RippleNet. Its speed, its scalability, and its low cost per transaction make it perfect for instant settlement and exchange of value. It was built for payments. It has real utility; that’s why it works.”

Ripple launched On-Demand Liquidity using XRP in 2018. Since then, the firm now has over 24 clients including Azimo, Flash FX, SendFriend, and MoneyGram. These are the high profile clients that are using On-Demand Liquidity in production. Interestingly, Ripple has great pulling power in Asia.

Target Regions for Ripple ODL

As Garlinghouse said, the majority of the RippleNet volume comes from the Asia Pacific region, both receiving and sending. He also highlighted that Ripple’s clients are increasingly attracted to the emerging markets including Africa, Latin America, and the Asia-Pacific region.

Generally, these regions have been ‘largely abandoned’ by the traditional banking systems in the past ten years. Azimo is a highlight in the terms of on-demand liquidity that Garlinghouse focused on. He commented on the ODL partner and reviewed how 2020 has been.

The Ripple CEO said that Azimo has been saving 30% to 50% when arranging various currency transfers between clients in Europe and the UK and those in the Philippines using On-Demand Liquidity. Thus, 2020 has been a fruitful year for Ripple ODL and there is rapid growth witnessed in the second half of the year so far.

Line of Credit Introduced

The interest from clients has not dwindled and Ripple is excited that even during these quarantine times customers still see value from that. Garlinghouse commented on the Line of Credit (LOC) product unveiled several days ago. He said that companies will benefit greatly from it helping them adapt Ripple On-Demand Liquidity (ODL) which will enable their business to thrive.

Ripple has now taken a bold step into the financial services world with LOC striving to help in the adoption of XRP. LOC helps the hyper-scale firms since they do not need to engage in separate credit agreements in various countries in different parts of the world. However, they can concentrate on investing in their business and enable repayment at a later date.

The unveiling of Line of Credit represents a major milestone in the evolution of RippleNet. Ripple is therefore doubling down on XRP and providing financial services powered by the network. It means that cross-border payments remain the core of their business.

Ripple Is Growing

Currently, Ripple has more than 500 employees. Adding that onto a recent restructuring, the company appears to be better equipped than ever to face the future as it comes. Garlinghous is confident that the company has the best team to take it forward. Also with the new streamline business units that include RippleX andRippleNet, the company is gradually evolving but its core DNA remains the same.

Ripple promises to be the builder and not the disruptor. Its success is notable in the growing number of employees especially during the quarantine period where they added 50 people to their payroll.

LOC and the Bank of America Rumor

This year’s Ripple Swell conference was held in private, but some interesting news and comments have leaked. Also, Ripple shared Brad Garlinghouse’s opening remarks at the conference. According to the CEO, the financial sector has not experienced innovations at such high levels in decades. PSPs (Payment Service Providers) and digital banks are putting a lot of pressure on the current system.

Also, digital wallets are seeing a ‘meteoric surge’ and Ripple is at the center of it all with its Internet of Values vision. The company’s Line of Credit product is managed by Barry Joseph. It substitutes a pre-financing process that took 2-3 months previously. Line of Credit streamlines that process to get completed within 48 hours and RippleNet members buy XRP at pre-determined prices.

In attendance at the Swell conference was an On-Demand Liquidity (ODL) panel with 3 partners. These partners include a “new face” with Sigue Group CEO Guillermo de la Vina, Bitso from Mexico, and Flash FX from Australia.

Concurrently, an unconfirmed rumor emerged which confirms previous leaks that there is a possible partnership between Ripple and Bank of America. The XRP community is divided on that issue. But, footage and screenshots have emerged on Twitter showing an ODL demonstration video of the Bank of America. Nevertheless, that presentation is not confirmed with other sources writing ‘Fast Remit’.

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Wanguba Muriuki is a content crafter passionate about putting everything into writing. He is passionate about Blockchain and Traveling. He is also an experienced creative and technical writer. Everything and everyone has a story to tell. What better way to capture the real story than in words.



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Ultimate Online Trading Solution for Anyone

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Tradelax offers a wide array of tools. Customers can access more than 200 financial instruments and trade stocks, commodities, currencies, and indices.

Within the last 30 years, the financial industry has become the fundament of global economics. Trading futures and stocks assist organizations in creating additional sources of revenue for innovation and expansion. The development of the Internet allows anyone who has a computer to engage in trading without any limitations. However, it’s worth remembering that online trading is inevitably interconnected with certain risks, including scams, private data exposure, and fraud. How to avoid all of them? Well, first of all, you’d need to choose a reliable trading platform. Fortunately, we can suggest one – Tradelax. This article will provide a detailed Tradelax review.

Why Choose Tradelax?

Tradelax is the ultimate solution for anyone willing to engage in online trading. There’s no need to possess any experience in the financial industry to join. Tradelax offers guidance and training to all customers, and they can receive an overview of the platform fast and conveniently. There’s a whole team of employees dedicated to training newcomers; so, you’ll surely find assistance when needed.

As the leading trading platform, Tradelax offers a wide array of tools. Customers can access more than 200 financial instruments and trade stocks, commodities, currencies, and indices. All prices are updated based on live feeds from global stock exchanges. So, Tradelax’s clients are provided with the most accurate information. The platform offers a comprehensive solution for managing your portfolio, purchasing or selling assets, and receiving professional training.

It would be impossible to receive profits from trading without a proper market overview. Tradelax knows about this necessity, so, it has designed a convenient Stock Screener tool. It was created to assist both newcomers and experienced traders in reaching their goals. Stock Screener allows you to filter out stocks and companies in the most convenient way and obtain the needed data about any particular organization. There’s also a possibility to arrange companies by market capitalization, growth rates, or receive the highest/lowest market values of stock for a given period.

Technology and Security

When it comes to online trading, security is the ultimate consideration. Since you’ll be providing the platform with a set of personal information, it must do everything it can to protect the customers’ data. Tradelax recognizes the importance of proper security measures. So, it has implemented a comprehensive set of policies. You can actually see a proof of the site’s reliability right in your browser. In the URL typebar, there is a lock symbol, which suggests that the connection is protected by 128-bit SSL encryption. Through clicking on the lock, you can obtain the details of a digital security certificate issued to Tradelax. This information provides a clear answer to “Is Tradelax a scam?” once and for all.

Types of Accounts Offered by Tradelax

All Tradelax reviews mention a wide range of account types that were designed to suit every customer’s needs:

  • Starter. This account would perfectly suit the needs of newcomers. It doesn’t involve any deposit fees or up-front commissions, allowing you to explore the market without limitations. You’ll also be provided with a personal account manager and a bonus policy.
  • Advanced. This type is for more experienced traders who have already attained some knowledge of the market. The advanced account includes all features of the Starter pack while adding access to education tools, regular market update emails, and a 25% discount on swaps.
  • Expert. Expert account owners are provided with assistance from a senior account manager and receive live updates on the most important news. This account also allows hedging and including a fixed spread option, alongside advanced training from an experienced consultant.

What Else You Should Remember about Tradelax

You can leave all your worries aside. Tradelax.com is not a scam. The company is a trustworthy online trading platform, and it possesses all the necessary certificates.

And you can join the platform absolutely for free. There are no deposit fees charged for setting up an account.

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Global Family Office Summit Takes Place Virtually With Key Highlights Including Education, Trust, and Responsibility

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The Global Family Office Summit that took place via Zoom platform on October 20 brought together key players to discuss issues that high value investors are willing to address.

Its primary outlined mission is to connect different disruptive tech leaders from all over the world, hence solve the world’s challenges using technology especially blockchain, cryptocurrency and artificial intelligence. Being the first time the event was held, and specifically virtually due to the ongoing coronavirus pandemic, GDA group is looking forward to many more successful events and fruitful opportunities.

The GDA group, dubbed a financial institution that is largely focused on disruptive technologies, came up with the noble idea of bringing together not only influential tech leaders but also high net worth individuals interested in the tech space.

Notably, the GDA group is the company behind GDA Capital and also Secure Digital Markets. Whereby the latter is a capital markets firm that is focused on merchant banking especially for digital assets. In addition, Secure Digital Markets is also a trading platform that has processed over $2 billion in OTC digital assets. Hereby making it a vital corporation in the crypto industry with its investments backed by institutions and wealthy individuals.

Details of The Global Family Office Summit

During the virtual event, various speakers got a chance to highlight their minds. In general, the summit identified that the industry has to invest more in education, trust between customers and services providers and responsible firms.

“The Global Family Office Summit has identified three pillars – education, trust and responsibility to give back,” said Michael Gord, one of the event organizers from GDA capitals.

According to Candace Johnson, a serial entrepreneur and key speaker during the event, she thinks the blockchain technology should be used to build a better world instead of seeing it as a disruptive technology. She noted:

“Data-driven algorithmic technologies are responsible for today’s digital transformation in almost all fields, from hard sciences, to social sciences, to the humanities, as well as in a variety of sectors, from health and commerce, to education, law and the arts.”

Another key speaker who participated in the event was AI Burgio, founder of DigitalBits. According to Burgio, investors should identify an opportunity to address a large-scale problem. Nicholas Verwilghen, one of the speakers noted that secure custody of assets and alternative niche projects is what will drive institutional investors crypto adoption. Other key points were discussed during the event that are expected to drive the creation of the next tech unicorn with the latest technology especially in blockchain and AI.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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Stablecoins went wild in the days before Bitcoin’s recent surge

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In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior.

Stablecoins: all stablecoins inflow transaction and address count of all exchanges. Source: CryptoQuant.

On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet’s data tracked USDT on Ethereum, PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it comes to the total inflow of all stablecoins in terms of the dollar value, no extraordinary trends were detected.

Stablecoins inflows to exchanges. Source: CryptoQuant.

CryptoQuant CEO Ki Young Ju told Cointelegraph that, although the inflows were not huge in terms of dollar value, they signified a bullish trend among retail investors:

“Depositing from more retail investors usually means the market sentiment is turning into bullish.”

Ju believes that the market’s high address and transaction count indicates that inflows were coming from a large number of retail investors rather than from a few large players. The assumption is that investors send stablecoins to exchanges when they plan to convert them to other crypto assets — primarily Bitcoin. Yesterday, Tether minted 450 million USDT on the Tron (TRX) network. The company’s CTO Paolo Ardoino clarified earlier that the amount was authorized, but not issued:

“PSA: 300M USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests.”

Tether market capitalization 2020. Source: CoinMarketCap.

Tether’s market capitalization quadrupled in 2020, beginning the year with $4 billion and rising to $16 billion at time of publication. Meanwhile, Bitcoin balances on major exchanges fell below 2.5 BTC for the first time in years.





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