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Weiss Ratings Poll Declares Ripple (XRP) Best For Moving Funds Between Exchanges

It is the season of polls for Ripple (XRP), the cryptocurrency which was earlier rendered insignificant by Coinbase despite its enchanting potentials attested to by big and small firms which are not limited to the fintechs but include large banks in the world and some central banks.

A recent poll by Weiss Ratings on Twitter that was categorized into four with Ethereum, Ripple, Bitcoin and “other” coins placed Ripple ahead of other digital currencies including Bitcoins.

Ripple took the lead with 78%, Bitcoin had 6%, while Ethereum and ‘Other’ had 8% votes. 7,598 crypto lovers took part in the vote.

The poll confirms that cryptocurrency lovers are yarning for Ripple on some exchanges including Coinbase.

Weiss Ratings is one of the most respected ratings on cryptocurrency today.  The platform brands itself as fundamentally incomparable to nearly all other ratings available in America today. The platform says it is America’s only 100% independent rating agency covering cryptocurrencies, stocks, ETFs, mutual funds, insurance companies, banks, and credit unions.

A few days back, CNBC’s Fast Money revealed the outcome of the poll they organized on whether Coinbase users need Ripple.

Ripple, Stellar (XLM), Cardano (ADA), and ZCash (ZEC) were part of the poll. However, Ripple led with 34% votes leaving ZCash with 30%, and Cardano and Stellar had 25% and 11% respectively.

Last week Coinbase announced they are exploration five new cryptocurrencies. Among them lies ZCash (ZEC), Stellar (XLM), Cardano (ADA), with two unpopular coins: 0x (ZRX) and Basic Attention Token (BAT).

We are exploring the addition of several new assets, and will be working with local banks and regulators to add them in as many jurisdictions as possible”.

Coinbase decision sparked uproar in the crypto space owing to people’s expectation that the exchange will include Ripple, which was earlier alleged of Inducing Coinbase listing with money.

The five coins, as Ethereum World News earlier reported would be exposed to 13 million customers and price upsurge after they are listed on Coinbase. The exchange therefore made known that they are not guaranteeing the listing of the coins but may select any in the future.

“Please note that we are not guaranteeing the listing of any of these assets. We may list them with partial support, or only in specific jurisdictions. In particular, some assets may become available in other countries before the US.”

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Facebook To Compete With Ripple (XRP) On Cross Border Payment

It appears Facebook is planning to compete with Ripple in cross-border payment. The social media giant is researching on creating its cryptocurrency which will give its billions of users around the word opportunities to achieve hassle free cross-border transaction and settlements.

Ripple and other cryptocurrencies who are working assiduously to get the world seamless cross-border remittance may receive a life-threatening competition from Facebook anytime soon.

A Facebook official who pleaded anonymity disclosed to Cheddar that “They are very serious about it.”

Another Facebook executive said Facebook will possibly need to make “acquisitions in the blockchain and cryptocurrency space to develop its own virtual currency”.

The journey into blockchain started early this year when Zuckerberg, CEO at Facebook announced that it recognised cryptocurrency, which takes “power from centralized systems and put it back into people’s hands.”

However, he intends looking into the “risk of (cryptocurrency) being harder to control.” “I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

Then to the recent announcement by David Marcus, head of Messenger, an ex PayPal president and Coinbase board member, who has been working for Facebook for four years.

Marcus is now in charge of everything blockchain in the firm. He’s to set up a group of who will explore blockchain opportunities across Facebook.

“After nearly four unbelievably rewarding years leading Messenger, I have decided it was time for me to take on a new challenge. I’m setting up a small group to explore how to best leverage Blockchain across Facebook, starting from scratch,” Marcus said in a Facebook post.

Marcus’s now to lead a team of Facebook employees researching on blockchain technology. He knows much about cryptocurrency for the fact that he’s an early Bitcoin investor, and to cap it all, in December, 2017, he joined the board of Coinbase.

Earlier this week, a Facebook Spokesperson told Cheddar that “Like many other companies Facebook is exploring ways to leverage the power of blockchain technology.”

“This new small team will be exploring many different applications. We don’t have anything further to share.”

Clamp Down On ICO

Not long after Zuckerberg revealed its new-year resolution, Facebook began removing crypto related ads, saying the platform is working on securing unsuspecting users who may be defrauded by fake Initial Coin Offerings (ICOs).

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Ripple Devotes $25 Million In Digital and Blockchain Businesses

As innovations are coming in from blockchain industry, it takes a keen observer no time to identify it. This can be said of Ripple. The digital currency and global money transaction firm is investing $25 million into digital and blockchain startups.

Made in XRP, the $25 million investment is to be managed by Blockchain Capital Parallel IV, LP. The angel capital firm is seen as the first fund to accept capital calls in digital assets with concentration on the development of the blockchain space.

What is Obtained in the Ripple Investment?

According to Ripple, Blockchain Capital has approximately $150 million fund under its watch. The investment firm is expected to invest in entrepreneurial teams that are blockchain-focused. Not only that, the investment is expected to provide an opportunity to identify new use cases for the XRP Ledger and Interledger Protocol, Ripple has said.

According to Bart Stephens, co-founder and managing partner of Blockchain Capital, the capital firm is a pioneer in the blockchain sector, it has been at the fore and in the trenches with their portfolio companies, like Ripple, which is designing a new crypto ecosystem.

Bart made known that it saw opportunities for distributed ledger technology in healthcare and identity management.

“Whether it’s using XRP, bitcoin or just the underlying blockchain technology, our goal is to find the best projects and give them the resources to be successful companies that deliver value to customers for the long term,” Bart said.

Meanwhile, talking on the latest development with Blockchain Capital, Ripple’s SVP of Strategic Growth, Patrick Griffin, reiterated that “Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space. They have a proven track record for finding and funding the projects that matter.”

“This is the first fund that we’ve contributed to, and it won’t be the last. We plan to be major players in shaping the future generation of blockchain or crypto companies.”

The reason behind this investment, according to Ripple is that the firm believes in supporting the XRP Ledger and Interledger Protocol, at the same time, the cryptocurrency firm is ready to continue to seek opportunities and support entrepreneurs, companies and funds that share this vision.

Blockchain Capital is blockchain-centred venture investor, founded in 2013 to help entrepreneurs invest ideas, build companies, and manage projects on blockchain technology.  The San Francisco is flaunted as one of the oldest and most active venture investors in the blockchain technology sector. Since it was created, the venture has financed 72 companies, protocols and tokens.

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Ripple’s Hope Is Beyond Western Union

When Western union partnered Ripple, enthusiasts see it as a confirmation that the blockchain company is doing everything to become a household name money transfers. This is no doubt a good sign, however, many a number of events have surfaced, which have possibility of propelling the cryptocoin.

A whole lot of observers won’t deny that Ripple is doing fantastic with many firms testing its tools for cross border transaction, and some banks partnering with the firm after careful observations and guarantee that Ripple is the next thing in cross border transactions.

It is no doubt that Western Union and MoneyGram are sources of developments for Ripple, especially now that there are numerous assertions that the New WU applications is depending on RippleNet. There are still some collaborations that will enhance Ripple in the next few months.

Allvor: The First Cryptocurrency to be Hosted On Ripple

Allvor is another feather to the cap of Ripple. It is branding itself as the first cryptocurrency powered by XRP Ledger with a distinct functionality and a focus on e-commerce. Allvor proposed integration, using XRP ledger superior technology, if widely accepted, it will go a long way in boosting the cryptocurrency use on a global scale.

The team behind the idea says the Allvor Project is an independent initiative, which has no support or sponsorship from Ripple Company, but will use the XRP Ledger which is a development of the Ripple Company, the best and most efficient distributed database technology ever made.

“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.

“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.”

Allvor is going to keep many mouth shot once it is accepted by Ripple, it will make the platform completely appear decentralized and kill the rumor that Ripple is not in any way decentralized. Aside the fact that it is going to make Ripple appear decentralized, Ripple HODlers also have the opportunity to receive ALV coin without necessarily buying it.

On like other cryptocurrencies, Allvor does not plan any form of ICO or a crowdfunding to gain funds for managing the system as other coins have been doing. The platform says its initial distribution will be made directly to the XRP holders’ community using the Initial Distribution program as a yardstick.

The Japan Consortium Of Banks

When the news of the Japan Bank Consortium having a link with Ripple surfaced, the world see it as a big move for Ripple. The consortium, which is a coalition of 61 banks in Japan is organized by SBI Ripple Asia. In an announcement, the consortium revealed the launch of a new Ripple pilot with Woori Bank and Shinhan Bank who are seen as the two largest South Korea’s banks due to their market cap amounting to $30 billion.

The idea was touted as the first time money moves from Japan to Korea over RippleNet, using Ripple’s settlement technology, xCurrent, for cross border transactions.

It is supposed to be one of the highest propeller of Ripple in recent time. While it has the potential to change Ripple, there are many things that could be done to at least make this banks have complete trust in Ripple. If they are able to, full partnership with 61 banks is not a joke, it is a big deal.

Ripple-Saudi Arabia Partnership.

The Saudi Arabian Monetary Authority’s (SAMA) partnership with Ripple is going to save the oil rich country of $200 -$400 million annually. The partnership gives banks in the kingdom an opportunity use Ripple tools for cross-border payments. SAMA, by indications, is going to be the second central bank in the world to introduce Ripple’s blockchain-based cross-border payments platform, after the 2017’s Bank of England’s pilot project.

According to Dilip Rao, the global head of on infrastructure innovation at Ripple said, “Central banks around the world are leaning into blockchain technology in recognition of how it can transform cross-border payments, resulting in lower barriers to trade and commerce for both corporates and consumers.”

“SAMA is leading the charge as the first central bank to provide resources to domestic banks that want to enable instant payments using Ripple’s innovative blockchain solution.”

The next big deal in the blockchain world is the Ripple-Saudi Arabia Partnership. Saudi has a lot of countries toeing its path in the Middle East, if Ripple manages the partnership to taste, there is possibility it gains more support and collaborations in the region.

Conclusion: Ripple is on the verge to becoming a replacement for banks. Many say it is only connecting banks together, however, by the look of things, it has the potential to replace all banks.

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Coinbase Pledges Support For Bitcoin Forks

Coinbase exchange broadcast it is supporting the withdrawal of Bitcoin forks on its platforms. The information is contained in an April post on Medium, a social blog, and at the same time on the exchange’s personal blog.

According to the platform, the development gives room to customers to make ‘more easily withdraw assets associated with Bitcoin Forks across all Coinbase products’.

“We are not announcing support for any specific assets at this time. As always, we look at technical, operational, and legal considerations when deciding which Bitcoin Fork assets to support and will always state on our website which particular assets are supported,” the statement reads.

Talking on the importance of Bitcoin Fork to the products of Coinbase, especially Coinbase Custody. The statement reflects that Coinbase Custody aims to build infrastructure to support future Bitcoin forks, and it is possible to support more forked assets than GDAX or Coinbase for the foreseeable future.

According to the blog post, GDAX “will build infrastructure to support withdrawal of Bitcoin Forks for assets stored on GDAX at the time of the fork. Adding withdrawal support for a bitcoin fork does not mean the asset will also be added for trading. Assets that are listed for trading will be independently evaluated using the Digital Asset Framework.”

The Bitcoin Fork is going to be supported by Coinbase Index Fund, since any forked assets listed on GDAX is automatically added to Coinbase Index.

When Is Coinbase Adding Ripple?

Crypto lovers are expecting the addition of Ripple on Coinbase. Last month, the rumor that Coinbase is planning to add the altcoin soared its price, until Coinbase dispelled the rumor, saying there is no decision on adding a new asset for now.

“As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”

Coinbase Plans To Become An Alternative Trading System

The Wall Street Journal has reported on Friday, April 6, 2018, that Coinbase is in a discussion with the U.S. Securities and Exchange Commission to register as a legitimate broker-dealer company and electronic trading venue. The action is an aftermath of the U.S. regulators’ clarification on cryptocurrency.

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Ripple (XRP) Makes Listing On Coinbase A Do Or Die Affair.

Ripple (XRP) Makes Listing On Coinbase A Do Or Die Affair.

Despite all the hype that surrounds Ripple and the fact that it fronts major cross border transactions across the world, the world third largest cryptocurrency still finds a matter as a clog in the wheel of its success.

As much as crypto lovers are yearning and clamoring for the listing of the cryptocurrency which is a guru cross border transactions, their bellow is just a tip of iceberg when compared to the company’s.

Even if not told, it is glaring to the world that if the cryptocurrency is added to the exchange platform, it will surely add feather to the wings and add leaf to the cap of the altcoin. While the demand from users and enthusiast continues to grow, a recent rumor that the altcoin was listed on Coinbase surged its value upward to an unimaginable point amid series of turbulence fisticuffing the crypto industry.

Also, when the exchange platform added Bitcoin Cash, it reflected in the value, soaring it to over 30 percent (from $2,800 to $3,800 per coin.)

Source: Bloomberg

Lastly, the unending tentacles which Ripple which has been able to acquire overtime has only brought it to limelight amid financial institutions and industries, while it is still lagging behind in everyday use as it is yet to be added to major platforms like Coinbase, Gemini among others. Evident of why Litecoin was rated more popular above the altcoin in a recent survey amongst 1000 Americans.

In the latest report released by Bloomberg, the cryptocurrency is not crossing its alms to continue glare the situation without removing the clog.

As two top U.S. cryptocurrency exchanges, Coinbase and Gemini continues to dash the hope of the cryptocurrency and its enthusiast, the San Francisco-based company, according to Bloomberg, has made a step forward by offering the two company dough in exchange for getting listed.

Bloomberg also mentioned that Ripple executive officer enquired if $1 million payment could make Gemini add XRP, while similarly, the cryptocurrency in a previous talks with Coinbase last fall, displayed keenness and wiliness to loan over $100 million worth of XRP to the exchange so that users can trade the asset.

In a move to confirm the information, Bloomberg added that Emmalee Kremer, Ripple’s spokeswoman said some of the info was not right. “Regardless, Ripple has always been transparent about our focus on building and growing a strong XRP ecosystem,” she said.

“We want XRP to be the most liquid digital asset possible to enable faster, cheaper global payments.”