Euro Exim Awarded the Best Global Trade Services Bank 2019 for its “Bold & Savvy Partnership Move” with Ripple

  • Ripple, a strong reason behind Euro Exim’s win
  • The strategic partnership “strengthens” its compliance process and ramps-up speed and efficiency

Euro Exim Bank, a global financial solution that focuses on facilitating international trade has been announced — the second year running — the winner of the Best Global Trade Services Bank award.

“This year the judges praise the bank’s bold and savvy partnership move, enabling swift transactions, reduced liquidity and credit risks, and minimized fund transactions,”

wrote Lucy Taylor, Awards Liaison Officer.

As per the document, unearthed by an XRP enthusiast XRP Research Center, the title was awarded in late June.

Earlier this year, Euro Exim Bank announced that it is using the XRP cryptocurrency for cross-border payments.

The director of the bank, Kaushik Punjani said, at that time, that the customers’ have been traditionally restricted from settling transactions in less time and cost.

Working collaboratively, they designed, tested, and implemented both xRapid and xCurrent “in record time” and have been looking for the benefits that their customers will enjoy.

The London-based company holds a “Class A” international banking license and has earned an ‘enviable” reputation for its compliance policies, with about 40% of staff specializes in Anti-Money Laundering and Know Your Customer processes.

Its clients include both small and medium enterprises along with larger corporations and private individuals.

The latest addition to the bank’s “financial arsenal,” it says is its strategic partnership with Ripple the XRP cryptocurrency

“developer.”

This has been apparently the first regulated bank to join the Ripple network.

This partnership “strengthens” the bank’s strong compliance process with enhanced authentication capabilities while ramping-up speed and efficiency. A strong reason behind Euro Exim’s win.

While the panel recognized the bank for its trade-tailored solutions and strong due diligence in the past, this partnership move with Ripple that enabled fast transactions got them impressed.

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Author: AnTy

SBI Ripple Asia Announces Shareholder Benefits Campaign

Ripple is constantly trying to increase the adoption of its XRP tokens. Because of this, the company has started a new partnership with the Japanese company SBI Holdings this year. The two companies have united to create SBI Ripple Asia, which will promote the RippleNet and XRP in the region.

Now, SBI Ripple Asia has decided to start a new campaign, which will be called Shareholder Benefits Campaign. The idea is to grant the shareholders of SBI with 30 XRP each. This would be useful because it would allow them to enter the crypto world and promote this technology.

Another goal of the campaign is to offer returns to shareholders. SBI has increased its dividends for 10 years straight, so this is also a commemorative campaign. Shareholders interested in receiving the tokens can use the company’s My Virtual Currency app to get them.

Recently, the company has also made other campaigns to give free XRP to people. The latest one was aimed at the clients of the company, who could receive free tokens worth 1,000 JPY (around $9,42 USD).

In related news, SBI is set to start using Ripple as the intermediary to pay the dividends to the company’s shareholders. The CEO of SBI, Yoshitaka Kitao, has also been invited to be an executive at Ripple, making the two companies become even closer.

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Author: Gabriel Machado

A Petition Starts Asking the Ripple Company to Stop Dumping XRP Gains Momentum

The XRP holders are very insecure about the behavior of Ripple, as the blockchain firm allegedly keeps on manipulating the market, claims the investors. A recent donation of 1 billion by Ripple to Coil has raised eyebrows among XRP holders.

Even though Ripple has an indirect influence on XRP with its developments but on the other side, Ripple also holds the majority of XRP’s and with Ripple dumping the XRP coins in a large number hasn’t amazed investors.

Just weeks ago, XRP touched the lowest price mark of $0.252 since late 2017. This shows that Ripple has had an impact on XRP in a negative way. The co-founder of Multicoin Capital hedge fund, Kyle Samani, in his interview with Bloomberg stated that the rise in Ripple’s quarterly XRP sales had led the digital asset to a bearish trend.

Similarly, veteran crypto analyst, Peter Brant recently mentioned that XRP price would dip up to $0.20. Brant, with all his experience and observation, predicted the upcoming price of XRP could further go down, as Ripple goes on to sell XRP. Also, in a series of tweets, he claimed that Ripple has been manipulating the market price of XRP. He used the word ‘manipulating’ because the way Ripple has controlled XRP price with the significant market whales, XRP sales, and donations.

A petition asking Ripple to stop the dumping of the XRP crypto has been published on Change.org. The hypothesis is that Ripple is placing on the market billions of XRP, causing the price to fall.

Now the petition has gathered momentum with over 2k investors signing it and asking the fintech firm to quit dumping their XRP holding onto the market.

The aim of the petition is to collect ten thousand signatures to support the cause and stop the price from falling, although there is no mention of how this could be done, or what they would actually do once the 10k signatures have been collected.

Despite the low market prices, the XRP community is very much hopeful about the future of the digital asset.

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Author: Joseph Kibe

XRP Underperforming Because of Low Institutional Adoption & Intense Competition: Report

  • Direct competition from big players putting Ripple in a “less-advantaged position”
  • XRP lacks institutional interest and that’s not good for the price
  • XRP is back below $0.30, in the green by 0.75% the third largest cryptocurrency is trading at $0.295.

While the majority of the top cryptocurrencies are up more than 100% YTD, XRP/USD is still in the red by 16.52%, down 92% from its all time high of $3.84.

Unfortunately, XRP price is moving in a completely different direction than the growth and progress Ripple is seeing.

Despite Ripple gaining a partnership with one of the world’s top money transfer companies, MoneyGram and Ripple CEO Brad Garlingouse talking about “multiple” investment and acquisitions in the works, the price continues to lose.

Could it be because the old world has started to catch up fast while tech giants like Facebook are eager to get into the field?

According to “Why Is XRP Underperforming?” report by cryptocurrency exchange OKEx, this is exactly the reason and more.

“As a payment solution provider, Ripple is facing intense competition,” and “any negative impact on the company could easily transform into undesirable price actions in XRP.”

Direct Competition From Big Players Putting Ripple In A “Less-Advantaged Position”

What makes Ripple stand out from the crowd, the report says is that institutional money transfer is built into its core.

But this thing could also bring uncertainty for the company because a lot of big players want to tap into this “lucrative” market that is potentially “threatening” Ripple’s business, with US Federal Reserve being the latest one.

The Fed recently announced its plan to develop a faster payment system for banks to exchange money that will allow the transfer of bill payments, paycheck among other business transfers instantly and round-the-clock.

While Dilip Rao, Global Head of Infrastructure Innovation at Ripple’s tweet over Fed’s announcement “seems positive,” the report says the news has made some afraid that direct competition from big players could put Ripple in a “less-advantaged position.”

Ripple already has rivals like R3 and SWIFT and with other startups entering the market, the competition is getting even more “intense.”

Now, Facebook’s Libra and JP Morgan’s JPM Coins — built and designed for faster money transfer — could have a negative effect on Ripple’s market share that could spill over to XRP as well.

XRP Lacks Institutional Interest And That’s Not Good For The Price

Although Ripple has already more than 100 financial institutions working with it, the majority of them don’t use XRP as a medium.

“This means institutional adoption of XRP remains relatively low, and that won’t produce any help XRP in terms of having positive price actions.”

“Lacking institutional interest,” is one important challenge OKEx’s latest report says XRP must tackle.

With its “relatively centralized characteristics”, XRP is surely “not everyone’s cup of tea”, but it needs to be seen “if Ripple can further utilize the use of XRP in its payment and transaction solution services in the future and stir institutional interest.”

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Author: AnTy

Ripple’s xRapid Usage Experiences Sudden Increase in Usage: Senior VP

XRP-And-Ripple-Supporter-Raises-Concerns-About-Network-Decentralization

Ripple, a cryptocurrency founded on the need to offer real-time, instant and cross-border payments, is a no-ordinary asset. The coin’s consensus ledger is unique and a lot different from a majority of the digital currencies because it essentially requires no confirmation. Its original objective of being an alternative for banks and financial institutions to settle payments transparently and at a much lower cost is alive.

As for XRP, the project’s native cryptocurrency, the fact that it’s been doing quite well, according to Coinmarketcap, is a testament to how exciting Ripple is. XRP has been hovering around $0.30 lately, constantly exhibiting bullish signals that favor buyers. And this is partly linked to the recent happenings in the coin’s demand – an influx of XRP users.

Over the past few days, xRapid, a liquidity platform dedicated to banks that use Ripple, has been experiencing an unprecedented increase in traffic. According to the senior vice president of product management at Ripple, Asheesh Birla, the phenomenon is attributed to a massive user increase.

It is safe to say xRapid is Ripple’s most vibrant project right now. It has been active before, but not as alive with multiple banking institutions and other mainstream cash transfer entities as it is right now. It has been so buzzing lately that it is only recently that MoneyGram finally joined the clique of companies relying on it.

MoneyGram Inc, the world’s second-biggest financial transfer firm, chose xRapid for the cross-border transactions and payments. Besides the efficiency guaranteed, the decision is largely attributed to the platform’s surging number of customers.

ILP Connector Implementation Slated for Next Year

The platform’s newly acquired fame hasn’t been without questions, especially on Twitter. A user named Michael iPinky7 sought to know whether xRapid employed the ILP conductor functionality.

ILP connector is designed to address different network hosts and also guarantee swift completion of payments sent across various, independent ledgers. One of its core uses is to safely allow routing of disbursements across digital asset ledgers while eliminating any risk of intermediary failures between the two parties.

In response to the question, therefore, Asheesh Birla was categorical in her answer. First, xRapid, according to her, works as an ILP connector. She, however, said they are still working towards making it a fully-fledged one, a project they expect to complete in early 2020.

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Author: Lillian Peter

MoneyGram Is Using XRP In Cross-Border Settlements, Reveals Q2 Report

MoneyGram Is Using XRP In Cross-Border Settlements, Reveals Q2 Report
  • Ripple and MoneyGram established a partnership on June 17th, 2019.
  • The new partnership is expected to help with working capital needs, while improving profits.

MoneyGram has long been one of the largest money transfer companies in the world, so why wouldn’t they take an opportunity to partner with Ripple? Their collaboration just began on June 17th, and the entire XRP community has been abuzz, gossiping over if XRP would be included in the new partnership. To settle any confusion, MoneyGram’s Q2 report reveals that the suspicions are a reality.

More specifically, the report states,

“The commercial agreement allows MoneyGram to utilize Ripple’s xRapid blockchain product, as well as XRP, Ripple’s cryptocurrency, to facilitate cross-border settlement.”

Ultimately, the company believes that the partnership will make it possible to reduce their working capital needs, while bringing in new earnings.

The cryptocurrency community has welcomed the new collaboration with open arms, as has MoneyGram.

Alex Holmes, the CEO of MoneyGram, even called the partnership a “perfect marriage” that would ultimately speed up different processes in the firm. Ripple needs more companies on board with their network, which is where MoneyGram comes in. However, by partnering with Ripple, MoneyGram also makes Ripple into an ally, rather than an enemy, in the payment remittance sector.

As a result of the commercial agreement, Ripple purchased $50 million worth of MoneyGram shares, which are presently priced at $4.10 per share. The agreement states that MoneyGram has the option of selling $20 million more in equity to Ripple between now and June 30th, 2020.

The Global Remittance Market Report shows that MoneyGram International Inc., among others, will play a big role in the rapid growth of the remittance market in the next five years. Involving Ripple in this advancement can only lead to positive outcomes for all parties involved. To view the full report and forecast, visit here.

At the time of writing, Ripple’s native token (XRP) was valued at $0.311004, losing 1.71% in value through the last 24 hours. However, XRP still has a $13.33 billion market cap.

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Author: Krystle M

Ripple’s Open To Being Compliant To Regulators; XRP Is Technically Bullish But Why Are Prices Tepid?

Ripples-Open-To-Being-Compliant-To-Regulators-XRP-Is-Technically-Bullish-But-Why-Are-Prices-Tepid

Today’s Ripple (XRP) News

A lot has been said about cryptocurrencies, their future and what’s not. Well, the fact is, blockchain as a technology is here to stay. Unfortunately for no-coiners and bashers, the sector will only flourish with time as an ingredient.

On the other plane, cryptocurrencies, including Ripple (XRP), would most likely be better regulated and exchanges’ propensity to manipulate prices tamed. It may take years, but overly, there is a high probability that it will happen. It’s only a matter of when.

To that end, a few hours before the Senate Banking Committee hearing, discussing the way to better regulate cryptocurrencies and other blockchain applications, Brad Garlinghouse and the Chairman of the blockchain payment firm, wrote a letter appealing to Congress not to paint the industry in what they termed as a “broad brush.”

After public criticism from Donald Trump and later the Secretary of Treasury, Steven Mnuchin, the community even speculated that the world’s largest economy may be on their path of banning cryptocurrencies and crushing innovation.

Well, even if they would, they can’t because of the decentralized nature of these use cases. That’s what Crapo, the chairman of the Senate Banking Committee said. It’s a reality that they had to face, and besides, blanket ban of cryptocurrencies is but an illegality. Expression, speech or technology wise, is under the protection of the First Amendment, analysts and lawyers assert.

Encouragingly, Ripple (XRP) as startup, is not really against any law/guidance. In their open letter, they admitted that the government is “well suited for their job,” and through their efforts there is trust, leading to the acceptability of any currency. Ripple, Brad Garlinghouse the CEO insists, is compliant and ready to work with regulators.

XRP/USD Price Analysis

Ripple XRP

Presently, XRP is steady, trending horizontally with caps at 34 cents. Technically bullish in the sense that the coin is largely consolidating inside the leading bull bar of Sep 2018, buyers have a chance from an effort versus result point of view.

Therefore, while bears may be pressing lower, preventing bulls from rising from these pits, every low should, nonetheless, be a buying opportunity for enterprising, risk-off traders. To that end, a fitting stop will be just below 30 cents with immediate target at 34 cents.

However, if buyers step up and the breaching bar, closing above 34 cents has high trading volumes exceeding 40 million of July 15, then XRP prices would easily float to 40 cents, and higher in days ahead.

Further, there would be more upsides for XRP if the same momentum drive prices above 40 cents with high volumes surpassing 50 million of July 10. In that eventuality, XRP may easily rally to 50 cents in a revitalizing move that would catalyze demand as buyers aim for the ultimate 80 cents, the high of Sep 2018.


Disclaimer: Views and opinions expressed are those of the author and is not investment advice. Trading of any form involves risk. Do your due diligence.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

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Author: Dalmas N

Ripple Expands Its University Blockchain Research Initiative (UBRI) To Japan, Now in 14 Countries

Ripple Expands Its University Blockchain Research Initiative (UBRI) To Japan, Now in 14 Countries

Ripple, the company that created the third-largest cryptocurrency by market cap, XRP, has decided to expand its University Blockchain Research Initiative (UBRI). Now, the company has expanded the program to Japan, which makes it present in 14 different countries.

According to the reports, the University of Tokyo and Kyoto University will be a part of the initiative. At the time of this report, UBRI has 33 universities as partners and the number continues to increase with these additions.

The goal of UBRI is to accelerate academic research and innovation about the blockchain all over the world. In order to foster the blockchain technology, Ripple has several partnerships with post-doctoral programs and undergraduate students.

Kyoto University, for instance, will host interdisciplinary workshops that will use the blockchain technology to address global problems. The Department of Economics of the University of Tokyo is starting seminars related to the technology and professors from both universities are starting some research in the area.

As a part of the initiative, the University of Tokyo has affirmed that it will also grant scholarships to the students who are chosen to be a part of the research team.

Ripple and Japan United To Develop Blockchain Technology

According to Eric van Miltenburg, the special vice president of Global Operations at Ripple, the company’s university partners are continuing to transform the world by studying the technology and the academic community is set to be vital in the future of the industry.

He also affirmed that the UBRI network will continue to grow across several countries and that this will accelerate the development of the blockchain across different realities, all with the help of Ripple.

Miltenburb believes that these programs will be important in order to prepare the next generation of people who will work with the blockchain. Entrepreneurs, engineers, and developers will get the expertise that they need in order to create better products.

Emi Yoshikawa, the senior director of Global Operations at the crypto company, praised Japan for becoming a leading force in the crypto industry. According to her, the region is one of the ones that is exploring more of the blockchain ecosystem right now and is set to have great results in due time.

She affirmed that there are very high levels of academic interest in the blockchain and that, with the help of Ripple, Japan is set to become an important country in this landscape.

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Author: Gabriel Machado

Partnership With MoneyGram Is Good For XRP and the Crypto Ecosystem, Ripple’s Global Head Affirms

Partnership-With-MoneyGram-Is-Good-For-XRP-and-the-Crypto-Ecosystem-Ripples-Global-Head-Affirms

Marjan Delatinne, the global head of banking at Ripple, has recently spoken at the Global Blockchain Summit by talking about some of the most popular topics with crypto investors. According to Delatinne, one of the main developments for the company was to start its partnership with MoneyGram, which began last week.

The partnership, as it was affirmed, has vital importance to the ecosystem because MoneyGram is currently one of the largest payment providers in the whole world. Because of this, a company such as Ripple simply has to work together with these giants.

Now, MoneyGram will use Ripple’s service, xRapid, in order to transfer funds around the world. This is considered a huge victory for the company, so xRapid can finally take-off.

So far, xRapid has been a very exciting technology for XRP holders, as it is one of the Ripple’s main products. Partly, all the excitement comes from the fact that many of these users expect Rippe’s xRapid to help in increasing the price of these assets.

If MoneyGram will use this technology, and the company has made over $20 billion USD in transfers last year, this would be the first time ever in which Ripple would see one of its products reaching a really high scale.

According to Delatinne, xRapid is all about sourcing on-demand liquidity. The focus on liquidity happens because the company believes that people do not give it the attention it deserves. However, liquidity was said to be the main cost behind cross-border transactions.

This happens because, without using a system such as xRapid, the accounts need to be pre-funded in order to make the exchanges work. With xRapid, companies will not need to tie their capital this way anymore and this can lead them to achieve better results.

Delatinne believes that banks are currently using archaic systems and that this makes them “hungry for change”, which is the perfect opportunity for services like xRapid to grow in use.

She also spoke about SWIFT, affirming that Ripple and SWIFT are actually not competitors because both of them have their own value and can work in a complementary way, so institutions and their clients can be helped by both.

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Author: Gabriel Machado

Ripple’s xCurrent-Based Money Tap Gains Seven New Banks as Equity Holders

Ripples-xCurrent-Based-Money-Tap-Has-Attracted-Investment-From-Seven-New-Banks

Ripple has recently made the news for announcing that it would invest $50 million USD on MoneyGram and SBI Holdings, a Japanese financial services company. Now, the company is on the spotlight again and, fortunately, it is because of good news once more.

The company has recently announced that seven new banks are onboard of its Money Tap initiative, which is powered by the company’s xCurrent technology, based on the XRP Ledger.

Money Tap, in case you are not familiar with this technology, is a payment app launched by Ripple in order to make payments more seamless and faster. With the app, users can transfer money almost instantaneously whenever they want to.

The app also allows for transactions with bank accounts, using QR codes to pay and cross-border transfers. At the moment, only two banks were fully compatible with the system: Suruga Bank and the Suminobu SBI Net Bank.

Now, the Fukushima Bank, Towa Bank, Toho Bank, Chubuko Bank, Shimane Bank and Ashiga Bank, as well as a yet unnamed bank, are all using the Money Tap system, too. The number of banks which have invested in the technology, counting the ones that do not use it, is at 20 now. These banks include Shimizu Bank, Shiga Bank, Hiroshima Bank, Fukui Bank, Shinsei Bank and others.

As you may have perceived, basically all these banks are based in Japan. The Money Tap is becoming pretty strong locally, so there is no doubt that Japan is the main target that Ripple has for this project.

The current goal at the moment is to allow other organizations to participate in this consortium as well, which may bring benefits to them and to their customers. No names were announced, but some financial institutions are already interested in being a part of the new project.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

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Author: Gabriel Machado