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Ripple (XRP) Centred SBI Virtual Currencies Exchange Is Now LIVE

Two days ago, the Ripple (XRP) Reddit community and Ethereum World News, had noted that the website that is the SBI Virtual Currencies Exchange had been updated and looked like it was prepping for launch. Well, the same exchange has announced that trading starts today, June 4th, on the anticipated Ripple (XRP) Centered, SBI Virtual Currencies Exchange.

The announcement by the team at SBI Holdings indicated that they had gone through the necessary registration requirements by September last year and have launched the exchange today, 4th June. The announcement also noted that the exchange will simply be known as VCTRADE. For now, only pre-registered users who had done so in October 2017, will be the first to receive the service on the exchange. The announcement noted that up to 20,000 had pre-registered and they were sending them login credentials starting today. Other traders willing to register on the platform will be able to do so beginning July, 2018.

With XRP as the first and only cryptocurrency to be listed on the exchange, VCTRADE will soon add Bitcoin (BTC) and Bitcoin Cash (BTC).

With respect to the level of cyber security on the exchange, the CEO and President of SBI Holdings, Yoshitaka Kitao, had earlier stated that the delay in launching the exchange, was to guarantee top notch security on the platform. One needs only be reminded of the Coincheck hack that left over $500 Million in NEM (XEM) stolen by shrewd hackers. Mr. Kitao wanted to make sure this would not happen on the new SBI Exchange.

Market response to VCTRADE announcement. Source, coinmarketcap.com

The news of the launch of SBI Virtual Currencies has been well received by the Ripple community. XRP has also shown some considerable gains since the announcement was made a few hours ago. XRP managed to reach levels of $0.70 soon after the announcement was made but has since settled at current levels of $0.67 and up 3% in 24 hours. The market reaction to the news can be seen in the chart shared above.

It seems like XRP will now have another exchange to make it accessible to the over 3.5 Million known Japanese crypto-traders and HODLers.

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Ripple’s (XRP) RippleNet Welcomes 2 More International Remittance Firms

Faith and belief in the available Ripple (XRP) software solutions for international money transfers and remittances has yielded recent news of several financial institutions partnering with the project in one way or another. Ethereum World News recently reported UK-Based brokerage firm and international payment provider, Currencies Direct, had successfully completed testing of the xRapid money  transfer settlement services. At the same time, the Kuwait Finance House recently became the first country in the Arab nation to join the RippleNet network.

The same RippleNet network now welcomes two new members to the list of budding financial institutions already part of the network. The two international firms that have shown their faith in Ripple are the Singapore-based InstaReM and Brazil-based BeeTech. These two financial entities are unique in that they only offer remittance services and that they have joined RippleNet that has banks as its core members.

The two firms went ahead to use the service this week allowing them access to a number of international markets such as the United States, Southeast Asia, South America and Europe. The firms have been noted to use Ripple’s API based solution of xVia that bridges the gap between the already existing software in financial institutions, to the RippleNet network.

The founder and CEO of BeeTech had this to say about the partnership with Ripple:

This partnership on RippleNet provides our customers a one-stop shop experience, including the ability to send payments and access new suppliers across more than 60 markets through xVia – a simple API connection.

This need for a one stop solution for remittance services is also the reason that the Santander Bank is using Ripple products for 50% of its International transfers. It seems that Ripple has proven itself as the leading payment solutions provider on the blockchain.

The momentum for Ripple and XRP is indeed increasing as we cruise towards the second half of 2018. One thing that is on everyone’s minds, is the $10 XRP price prediction by SBI Holdings CEO and President, Yashitaka Kitao who has been bullish about XRP ever since the two organizations partnered over tow years ago. Perhaps this value is a reality once the same firm launches the SBI Virtual Currencies exchange later on this year.

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Ripple (XRP) Centered SBI Virtual Currencies Exchange Updates Its Website, Looks Ready To Launch

The Ripple (XRP) Reddit community is always on its toes in terms of Ripple related news. The HODLers of the coin, who are also known as Ripplers, are one of the most enthusiastic communities on the Reddit platform. It is no surprise that they were the first to spot the updates on the SBI Virtual Currencies exchange website.

Reddit user Sog_E_Bacon had this to say via Reddit about the new developments on the site:

Although it is not live, the site has been updated and it looks customer ready. They now have many sub-pages, including a service overview, a guide on how to deposit/withdraw money, a Q&A about Cryptocurrency Virtual Currency, the risks associated with CryptoCurrencies and how to secure your CryptoCurrencies.

The key word in his observation is that the website looks customer ready. You can also be the judge os this by visiting the SBI Virtual Currencies site and having a look.

The same Reddit user also noticed that XRP was the only coin with a description on the website indicating that the SBI Holdings Group, was 100% serious about making Ripple the centerpiece of the new cryptocurrency exchange.

The CEO of SBI Holdings, Yoshitaka Kitao, had earlier been quoted as having nothing but high hopes for the SBI V.C (Virtual Currencies) Exchange back in early May when he had this to say:

When we do it, it will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear. We have to pursue safety thoroughly.

His comments came amidst an announcement that the cryptocurrency exchange will be launched this summer. A quick google search on the months of the year that Summer graces the country of Japan yields that it is from June to August. This means that we are at the cusp of the release of the SBI V.C exchange.

With a Ripple centered crypto exchange, XRP will surely make strides in the crypto-market. The coin is currently trading at $0.637 and up 3.35% in the last 24 hours. The total market capitalization of the crypto-market has recovered by the $40 Billion it had lost mid this week when it was only valued at $304 Billion. That figure now stands at $340 Billion. The expectations are high that the uptrend will continue into the month of June.

Disclaimer: This article is not meant to give financial advice. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
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2 More Reasons To Be Bullish About Ripple (XRP)

As the crypto-market shows some signs of life, some good news beckons for the Ripple (XRP) community. Two more financial institutions have embraced Ripple technologies in a manner that will improve their daily operations tremendously.

The first institution is a UK-based foreign exchange broker and international payment provider known as Currencies Direct. The firm has successfully completed testing of the xRapid platform that uses XRP. This announcement adds to similar announcements made by Ripple with regards to another round of successful pilot tests of xRapid. These tests managed to save the institutions using xRapid at the time, between 40% to 70% in transaction costs and lowered the time of the transaction from the regular 2 days to 2 minutes.

The Chief Product Officer at Currencies Direct, Brian Harris, had this to say about the tests:

Our trial with XRP was a resounding success. We’re currently assessing our next steps, but the evidence we’ve gathered indicates that the use of XRP is a game changer, making payments near-immediate and significantly improving service to our customers.

He would further add the following:

Our goal is to offer the best possible service. We believe that utilising cryptocurrencies in this way – as a transfer of value, rather than as a store of value – is the next logical step for our industry. It is, after all, the intended purpose of cryptocurrencies and we’re proud to be leveraging new technology to deliver the most convenient and seamless experience for our customers.

Similar sentiments with regards to Ripple products, were echoed by the Kuwait Finance House (KFH) that has recently become the first bank in the country to join RippleNet. In the announcement, the Bank specifically saw RippleNet as the future of international money transfers in situations where time is a factor such as facilitating funds for Humanitarian work.

RippleNet currently has over 100 financial institutions including banks, payment service providers, remittance service providers and other institutions that use the RippleNet for almost-instant settlement of international payments.

In conclusion, the adoption of Ripple products by the two aforementioned financial institutions, is more reason to be bullish about the coin and project. Such capabilities of Ripple were what made the Late Matthew Mellon to invest $2 Million in XRP that would later be valued at close to $1 Billion. Mr. Mellon had seen the future of cryptocurrencies and finance was indeed Ripple and its products.

Disclaimer: This article is not meant to give financial advice. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.
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Ripple’s (XRP) Liquidity To Increase With New Exchanges By SBI Holdings

The partnership between Ripple (XRP) and SBI Holdings has been a match made in Crypto heaven from the onset. With its headquarters in Tokyo Japan, SBI Holdings has been bullish about Ripple from the beginning with the company’s CEO, Yashitaka Kitao, always Tweeting about how brilliant Ripple is. Yoshitaka Kitao is the head of a consortium of 60 Japanese Banks.

SBI Holdings CEO strongly believes in a $10 XRP price

Recent announcements reaching Ethereum World News, is that SBI Holdings has cancelled an earlier partnership with popular Chinese exchange and Startup, Huobi. The deal was first struck to combine efforts for the new Huobi Japan and SBI Virtual Currency Exchanges. SBI Holdings has instead opted to bring the efforts of a new exchange in-house. This is in a bid to incorporate higher levels of security which can respond promptly to domestic and overseas regulation.

The move is understandable as Japanese FSA regulators clamp down on ‘insecure’ exchanges that can allow hackings to the magnitude of the Coincheck hack that was to the tune of $500 Million in NEM (XEM).

SBI Holdings had earlier stated in January and after the partnership with Huobi, that it would give Ripple (XRP) trading preference in the new exchanges it was developing. The reason behind this was that XRP had a strong user base in institutions and was in demand in Japan. Back in January, Mr. Kitao had also been noted as saying that XRP will become the global standard in digital currencies.

As the intricacies of the legal and security challenges of launching the SBI exchanges are ironed out, one thing is for sure: that the added liquidity of XRP in Japan, will have a tremendous effect on the price and liquidity of the cryptocurrency in the markets. Japan already has 3.5 Million of its citizens trading and owning cryptocurrencies with XRP being one of their favorite coins.

The full report by the Japanese FSA (Financial Services Agency) ranks XRP as one of the top 5 favorites for the Japanese traders.

[Photo source, xrpworld.com]

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$1, $10 and $24.48 per Ripple (XRP) Price Predictions

The market has sort of stabilized at the current total market cap of $266.4 Billion. The recent lows of $246 Billion that were witnessed around April 6th, have seemed to fade away gradually. But we are not out of the woods yet. Bitcoin (BTC) is still under $7,000; Ethereum (ETH) still under $400; Litecoin (LTC) still having difficulty breaking $120; and Ripple (XRP) has gone below $0.50.

The one possible chance of a rebound, is the prediction by Thomas Lee, that the markets will most likely recover after the American Tax season is over on April 15th this year. His estimate is that by April 17th, we shall see some upward movement of the prominent Bitcoin. What we all know and observed with time and experience, is that once Bitcoin (BTC) goes up, the rest of the market follows suit.

Perhaps that is why the $1 per Ripple (XRP) is the latest prediction to hit the Crypto-verse. This is despite the debate going on about whether Ripple is a security or a Cryptocurrency. From being an actual trader, I would like to defend that it is a cryptocurrency. It is also 100% decentralized. The only thing that might look centralized, is the lockup of 55 Billion XRP in Escrow last year to ensure certainty of supply.

Going back to Thomas Lee and his prediction of a BTC at $25,000 by the end of the year, it is possible that $10 per XRP is within grasp as the market recovers from the current uncertainty, and by the end of the year.

Also to add, is the $24.48 Bullish prediction of XRP after the current crash of Bitcoin that started in January and yet to fully bottom out. This price prediction is based on the ever increasing XRP partnerships. These partnerships include: Santander, Moneygram, Western Union, Global Central banks, LianLian International, RBC Bank and more.

Another thing to note with this prediction is that it states XRP has been undervalued since inception. There is also the speculation of XRP being backed by Google. There is also the speculation of XRP partnering with Amazon and Uber sometime this year.

Moving forward, there are only 2 things an XRP trader can do. He or she might HODL or keep stocking up on XRP anticipating the above events.

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Allvor: Outstanding Ripple-dependent Cryptocurrency For E-commerce surfaces

Ripple is getting another boost now that Allvor, the first cryptocurrency powered by XRP Ledger, centering on e-commerce has surfaced. Alvor has proposed to integrate with notable online e-commerce stores using XRP ledger superior technology. The innovation is going to be a great boost for the cryptocurrency, and make Ripple XRP, a widely used digital currency.

The Ripple-dependent innovation, according to the team behind it, has no support or sponsorship from Ripple Company.

Ripple is going to be used by online retail stores via Allvor designed plugins, the team has touted.

“In the next years, the best and most consistent blockchain technologies will transparently integrate and operate with the various layers and protocols required to conduct financial and business transactions,” the team has said.

Allvor has its token to be represented with ALV. The platform, in its whitepaper, says it “will create and encourage the creation of tools that enable the intercommunication between the real-time gross settlement possibilities available in the XRP Ledger”

“The Allvor Project will be focused on developing and encouraging the development of such integrations in order to promote the widespread use of the ALV token along with the systems that support the trade of products and services, ranging from small virtual stores to large e-commerce players,” the team reiterates.

Allvor says it aims to be the a propeller of the Ripple’s Internet of Values going by its transaction costs among other flexible values it has.

No ICO, Allvor says!

Unlike other crypto, Allvor is not planning any ICO or crowdfunding. It is distributing coins to Ripple hodlers based on what they have in their wallet as March 27, 2018. The amount of ALV to be given then depends on the amount of Ripple each account holds, and the “maximum payment limit of the Program is 1,000,000 ALV.”

The Team Behind Allvor

Allvor has five individuals as its team, with Cleyton Domingues, as the creator of the innovation. It is not clear whom the members of team are, in the future information about the team should be up in the air.

The Allvor Payment Ideas Are Outstanding.

Using XRP as a base for payment on e-commerce store is the best for Ripple. Through Allvor plugins designed for Magento, WooCommerce, and standalone e-commerce stores, there is a tendency Ripple jump all hurdles to be the next big name in the history of cryptocurrency.

Comments about Allvor

Different issues have been raised about Allvor, with some saying it is not necessary since Ripple can do all what it says it intend doing. However, the team has not presented to the world, why Allvor is more than qualified to do the services it flaunted.

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Ripple (XRP) Partners With Hyperledger

Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. On March 28th, Hyperledger announced that 14 new organizations had joined the project, and amongst them, was Ripple (XRP). This brings the Hyperledger community to one that has 231 organizations in more than 25 countries from all over the world.

Ripple’s Chief Technology Officer (CTO), Stefan Thomas, was emphatic about the partnership and was quoted as saying:

“Through our partnership with Hyperledger, developers worldwide will be able to access Interledger Protocol (ILP) in Java for enterprise use. The Hyperledger Quilt project connects Hyperledger blockchains with other ILP-capable payment systems such as XRP Ledger, Ethereum, Bitcoin (Lightning), Litecoin, Mojaloop and RippleNet, helping us to deliver on our vision for an Internet of Value – where money moves as information does today.”

Stefan Thomas has been part of the ripple team since its founding and was initially a senior engineer. He took over as CTO in June 2013 and has helped shape the company’s vision of the ‘Internet of Value’. In his own words, an ‘Internet of value’ is a world where money and other assets move as freely and efficiently as information moves today.

By partnering with Hyperledger, Ripple extends on that vision of shaping the ‘Internet of Value’. The Hyperledger blockchains are permissioned private blockchains. This means that only members of the Hyperledger community are allowed to access the sensitive private blockchains. The members of the community are brought together this way through open source software only accessible to them. They in turn share knowledge and experience – in the name of technology – to bring faster and better solutions through collaborative efforts.

Other organizations that joined Hyperledger include: Beijing Truth Technology, Blockchain Technology Partners, CULedger, Greenstream Technology, KompiTech, MATRIX Foundation, REMME, Shenzhen Rongxun Technology, Spin Systems Inc, Versia and Xiilab.

They bring the total of organizations in Hyperledger to 231 that include leaders in finance, banking, Internet of Things, supply chain, manufactureing and technology.

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Who Will Triumph, Ripple (XRP) Or Banks?

As cryptocurrency continues to show more proficiency and capability in making transaction easier for people, the world is gradually embracing the technology as a trusted means even though some are still skeptical about its credibility.

Owing to the gradual diffusion of blockchain technology, a network that records it transactions using distributed databases, math and cryptography, banks are beginning to embrace the technology as their co, whom they could partner with in gaining relevance in the world of financial transaction.

Then, some banks and financial bodies mused over the best cryptocurrency to marry, and they came to the final resolution that Ripple would serve them right. Banks and financial institution like Santander, Saudi Arabian Monetary Authority, MoneyGram, American express, and Canadian Imperial Bank of Commerce, among others have aired their collaborations with Ripple.

Despite the collaboration, partnership and perceived friendship between Ripple and banks, series of speculations that altcoin is becoming more of a threat to banks or banks are aiming to crush Ripple off the financial world has been rousing all over the space, with various analysts and observers giving out their opinions.

In a statement, the President and COO of Global Blockchain said “if big banks were to succeed in crushing one of these two currencies, Ripple would be it,”

In the same line, the CEO of J.P. Morgan Chase & Co., an American international banking system, Jamie Dimon, labeled digital currencies as “fraud,” and a “tulip bulb,”. Making us know that in the heart of high profile banker lies statements like “banks are prepared to crush down cryptocurrency”

However, the liable cryptocurrency that banks will surely want to crush is Ripple. According to Shidan Gouran, “Ripple is much more of a direct competitor to banks. Because it operates more like a transaction network than a currency”.

Also, Darren Marble, the CEO of CrowdfundX said, I believe Ripple offers a viable blockchain solution and an enormous amount of utility to banks.”

In the same direction, Marcus Schenck, co-head of corporate and investment banking at Deutsche Bank, in his opinion, said bank accounts would disappear in few years to come.

For me, going by Marble’s statement, I think banks are more in need of ripple than the otherwise, therefore, what will give them the capability or thought of crushing a technology that complements them and make them more viable in the financial industry?

A penny for your thought.