Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud – one of the global payment processing giants – has become the latest member of the RippleNet family and would help ripple in expanding its cross-border remittance services further. The B2B payment processing giant is known to work with several small and medium business entities before joining the RippleNet.

RippleNet, a venture of Ripple blockchain, is known for its cross-border remittance solutions and has partnered with hundreds of banks, financial institutions, and payment processing giants to avail fast and cheap cross-border transactions using XRP as liquidity.

RippleNet aims to be the payment processor for a rapidly-changing world and is banking on the wave of globalization moving from west to east.

Asia is one of the footholds for the decentralized tech provider firm, and they have made aggressive expansion in the region with new members and services regularly.

Currencycloud, which has been working with Small and Medium Enterprises (SME), aims at expanding its service to help its new partners, especially in a world where traditional banks often overlook SMEs for big MNCs. The payment processing giants hope to reach new firms and SMEs who are deprived of the banking facilities up until now.

Ripple’s Client List Grows to 350

Ripple, which calls itself a decentralized tech company, ventured into remittance services through RippleNet a few years back, and even though the XRP token hasn’t managed to see a price break though, in a very long time, the cross-border solutions have garnered a lot of popularity over the years.

Ripple now boasts over 350 clients and recently updated its official website to include its new partners.

Mike Laven, CEO of Currencycloud, commented on their recent association with RippleNet and hoped the partnership would be mutually beneficial, helping them in expanding their network to new parts of the world. He said:

“Currencycloud is all about bringing clarity, speed, and value to the traditionally opaque, costly, and time-consuming issues associated with cross-border payments, particularly for SMEs that have historically been under-served by traditional banking. Ripple’s solution will help us to extend our network to new parts of the world, removing more barriers to payments for our clients.”

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Author: Hank Klinger

Microsoft Azure Integrates Lition’s Blockchain Tech to Scale Commercial Operations

Microsoft is one of the fast-moving IT giants in blockchain research for leverage with their existing services. The firm recently integrated Lition blockchain which is set to fulfill a commercial purpose in its cloud product, Microsoft Azure.

Lition made the announcement through a medium post published on Feb, 18. The blockchain oriented firm noted that they will operate under blockchain as a service (BaaS) for Microsoft. This milestone is quite something for Lition given that they are now among the countable blockchain services working with a reputable cloud provider.

Microsoft Cloud and the Lition Integration Pros

As one would expect, the two firms will benefit from each other in terms of convenience for cloud services and blockchain provision. Notably, Lition stands to get a larger market share once its blockchain tech gets exposure on Azure. Dr. Richard Lohwasser, the CEO of Lition, has since highlighted that they are optimistic;

“We believe that making integration as seamless as possible is vital to bridging the gap to adoption. Azure will be a tremendous asset for our customers..”

Microsoft’s cloud clients on the other hand will now be able to develop on-chains in Azure based on Lition’s blockchain technology. Big corporates recognized in the Fortune 500 like Samsung, Boeing, Coca cola and Walmart are currently among the set beneficiaries of this partnership.

Both Lition’s and Azure users can deploy and test sidechains using the integrated BaaS. In addition, they have the option to join this new cloud blockchain ecosystem as network validators. This significantly reduces the costs incurred for putting up local servers or the manual installation of nodes.

The $229 Billion Microsoft Cloud Market Share

Stats show that Microsoft Azure has attracted around $229 billion worth of market share placing it second in cloud services. The company’s history of indulging and making sense of complex tech is expected to come in handy for both its cloud operations and the BaaS offered by Lition. Furthermore, Azure’s open and scalable nature makes it a good avenue for blockchain tech application as DLT’s become more popular.

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Author: Edwin Munyui

Facebook’s Libra Has “Failed” As Central Banks Won’t Accept It – Switzerland Finance Minister

  • In its current form, the social media giant’s cryptocurrency won’t be approved
  • No central bank will accept the basket of currencies underpinning it

Facebook’s digital currency Libra has been a big miss so far and requires a revamp in order to be supported, said the finance minister of Switzerland and outgoing president. Where regulatory consent is concerned, Ueli Maurer, the president of Switzerland said,

“I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it,”

“The project, in this form, has thus failed.”

Government debt and bank deposits held by the custodians are some of the assets backing Libra, which is meant to dodge the high volatility persistent in cryptocurrencies.

The Libra Association has shared their concerns regarding Libra with politicians and regulators that range from confidentiality to its possible ability to impact current fiat policy.

The cryptocurrency Libra scheduled to be launched in June next year may get delayed according to co-creator David Marcus and other officials running the project.

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Author: AnTy

XRP Rated as Security while Bitcoin, Litecoin, & Monero has the Least Score: Crypto Rating Council

  • Crypto exchanges and investment giants come together to rate digital assets

Cryptocurrency exchanges and investment platforms have taken it upon themselves to determine which crypto asset is a security and which isn’t.

Coinbase, Kraken, Bittrex, Circle, Genesis, Grayscale, DRW Cumberland, and Anchorage have come together to create the Crypto Rating Council to decide which digital assets can and cannot trade on their platforms.

The framework results in a score between 1 and 5, with 1 meaning he asset has no characteristics of traditional regulated security and a score of 5 representing that an asset is strongly consistent with treatment as security. As per this framework, Bitcoin, Dai, Litecoin, and Monero has the least score of 1 while on the other end of the scale are Polymath (4.50), Maker (4.50), and XRP (4).

However, this didn’t go well with XRP community.

“The Council’s ratings are performed independently,” and “not endorsed by the SEC, CFTC, or any government agency, developer team, or other third party, and they are not legal advice.”

The council will review more assets and might even develop similar tools for non-US jurisdictions.

The diverse group of leading crypto financial services firms as per the official website, are companies “committed to the responsible growth and maturation of cryptocurrency markets and related financial infrastructure and trading services.”

The members believe “practical compliance tools” can help the market participants support growth and adoption of the digital assets in the US and around the world. While the US SEC’s guidance has been helpful in alerting the crypto industry to complex legal issues, determining which asset is security or not “remains highly circumstantial.”

This complexity, they say has slowed the launch of new crypto assets in the US and as such decided to take matters into their own hands.

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Author: AnTy