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Stellar Lumen (XLM) Partner, SatoshiPay, To Go Live On London Stock Exchange

For some days now, Stellar Lumen (XLM) has been receiving exclusively intriguing news, here comes another information that Stellar’s partner, SatoshiPay, is getting ready for IPO on AIM, a sub-market of the London Stock Exchange.

Flagged as a market for company growth, AIM was launched on 19 June 1995, and it comprises of 10 companies valued £82.2 million collectively.

The news stated that while SatoshiPay is preparing for the listing, Daniel Masters, a London-based crypto investor will be supporting the company with €566k in its pre-IPO fund raising.

The London based company that processes micropayment transactions, aired that it decided to get listed on AIM in a bid to improve the company’s growth and it is believed that the listing will help the company raise development capital.

The statement added that by the time the listing is achieved, shareholders will be able to trade their shares and the confidence level of stakeholders will be elevated.

Since the development will make the firm become a public company, access to institutional investors that supplies quoted companies with fund will be made easy. SatoshiPay echoed that as soon as the listing is achieved, it will be among the early blockchain businesses listed in London.

“This is a giant leap for SatoshiPay, and I am extremely proud that the startup I co-founded in 2014 has grown into a company that, with the support of an amazing team and fantastic investors, is now approaching a stock market float, the CEO of SatoshiPay, Meinhard Benn stated.

TheRegister Adopts Stellar Lumen

It is no doubt that massive adoption is the sole of cryptocurrency. When big firms accept cryptocurrency as payment option, there is going to be increased in the number of people using crypto. The same holds for the adoption of Stellar by TheRegister.

Not long, United Kingdom based website, The Register, partnered with SatoshiPay. The respected publisher during the partnership accepted that lovers of its latest publication, The Geek’s Guide to Britain, pay for the e-book format using Stellar Lumen (XLM).

The idea came after The Register partnered with SatoshiPay, since then, the website has been accepting cryptocurrency micropayment option for some certain contents on the website.

SatoshiPay CEO, Meinhard Benn who spoke about the partnership said:

“We see blockchain technology and Stellar in particular as a significant enabler of this evolution. With micropayments, publishers can cater for their readers’ demand for reduced advertising, whilst charging a small fee for viewing content.”

Meanwhile, Jed McCaleb, co-founder of the Stellar Development Foundation, said about the development:

“This is an exciting moment for Stellar and the cryptocurrency community as a whole, as it represents one of the first mainstream uses of blockchain payments in reaching millions of consumers.”

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How Does Coinbase Exploring Stellar Lumens Impact Ripple XRP?

Stellar Lumens (XLM), Ripple (XRP)–The massive Coinbase announcement that came out on Friday has created a stark divide for several cryptocurrency communities.

Published in a press release on the official Coinbase blog, the company confirmed that they are “exploring” five new cryptocurrencies–Stellar Lumens (XLM) the largest by market capitalization–with the potential to be added to the exchange’s offering at some point in the future.

The move by Coinbase has created a wave of positive price appreciation for the currencies, with Stellar posting a gain of 22% since the news was first released. While XLM fans rejoice over the reversal in 2018’s bear cycle, which saw their coin fall nearly 85% in value since the start of the year, it’s Ripple XRP investors that are left questioning the exchange’s decision–in addition to the price outlook for their own currency.

Coinbase and Ripple have long been tied for a potential partnership, going back to the end of 2017, when Coinbase CEO Brian Armstrong reported his company was planning to expand into more altcoins beyond their four-coin selection. At the time XRP was in the middle of a meteoric rise (along with much of the industry) that saw the price jump from its mainstay of 0.20 USD to over 1.00 USD. Following the massive pump in price Bitcoin Cash experienced during its addition to Coinbase (albeit one that cost the company it’s reputation over insider trading), many investors flocked to XRP as the next obvious listing. The coin was Top 3 by market capitalization, just behind Bitcoin and Ethereum, and offered a distinct asset variation to Coinbase customers by being a high liquidity, low price-per-coin currency. The aftermath ended poorly for XRP. Just as the currency neared 4.00 USD in value, and the hysteria at a pitch, Coinbase published a press release in the early days of January stating it had no intention to add new currencies at that time. Ripple subsequently began its plummet in valuation, falling from 3.84 USD to its current price of 0.44 USD.

With the announcement of Coinbase pursuing Stellar Lumens and Cardano’s ADA, the void for a high supply, low priced cryptocurrency will have been filled ahead of a potential XRP listing. While coin supply has little impact upon intrinsic value or investment interest, the lack of a similarly priced token on Coinbase provides a novelty to investors looking to make their dollars go a little further. At the very least, the psychology of being able to purchase a cryptocurrency for under one dollar, as opposed to the next cheapest offering in Litecoin valued at ~80 USD, will be appealing to the vast majority of Coinbase investors who have yet to venture outside of the exchange.

While Coinbase has not published data on what percentage of their user base is exclusive to Coinbase, given it’s U.S. base of operation and emphasis on user-friendly, mobile functionality, it’s fair to say a significant chunk of Coinbase users only use Coinbase. This provides the opportunity for exposing one of the five mentioned cryptocurrencies to a broad audience of new cryptocurrency investors, thereby increasing value and adoption. Ripple could have benefited significantly from reaching this new audience ahead of other currencies. Now, it appears as if the coin may never come to Coinbase.

Conspiracy theorists have it that Coinbase is run by Bitcoin fanboys that have little intention of making decisions that will eat away at BTC dominance in the marketplace. Given that rival exchanges, with much shorter time frames on the market, are eyeing billion dollar profits in 2018, it stands to reason that Coinbase is less concerned with Bitcoin dominance than expanding their platform trade volume. Trading brings fees, and the Coinbase app charges some of the highest in the industry (Coinbase Pro, formerly GDAX, has a much more favorable fee structure).

However, by pursuing Stellar Lumens over Ripple XRP, which share a significant amount of similarity in that XLM was spawned as a fork of XRP by former Ripple founder Jed MCcaleb, Coinbase is making it clear that it has no intention to work with Ripple–at least in the foreseeable future. Coinbase has regularly pointed to a post on its criteria for adding new currencies to the exchange. As stated in the outline, the language emphasizes decentralized cryptocurrencies. Despite Ripple’s efforts to distance itself from the coin XRP, the company still holds a disproportionate amount of the total supply (albeit locked in escrow) that has led to more than one debate over the level of XRP decentralization. In addition, the coin is embattled in a series of lawsuits over whether the coin constitutes a security, which creates further distance for a Coinbase union.

In all, being neglected by Coinbase does not dampen the potential for XRP or its implementation in Ripple’s fintech, but it does hurt investors looking to capitalize on the exposure to nearly 13 million customers. With XLM or ADA likely the first new token listed on the exchange, Coinbase has taken a decidedly negative stance against the world’s third largest cryptocurrency.

On a lighter note, to give perspective for XRP investors, Kraken had a witty response to the Coinbase “exploring” new currencies:

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Coinbase Exploring Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX)

Coinbase, Cryptocurrency Exchanges–Finally, after months of waiting for news surrounding another coin listing, Coinbase has broken the silence on updating its limited selection of cryptocurrencies. In June, Coinbase announced to consumers through a blog post that the company would be adding Ethereum Classic (ETC). However the listing functioned more as a reprisal for Coinbase, which had previously offered ETC before discontinuing the service at the end of 2016. The move back to ETC represents a testing ground for the company rather than an actual new coin launch, as the exchange looks to avoid another Bitcoin Cash fiasco which led to allegations and lawsuits surrounding insider trading.

Today, the popular U.S.-based exchange with over 13 million users announced their exploration into five new cryptocurrencies:

Cardano (ADA)

Basic Attention Token (BAT)

Stellar Lumens (XLM)

Zcash (ZEC)

0x (ZRX)

The official press release states that in addition to exploring the currencies and regulation entailed, the exchange is considering the coins for addition to their service,

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.

In addition to the current listing of Bitcoin, Bitcoin Cash, Litecoin and Ethereum, Coinbase looks to capitalize on rival exchanges in offering a broader selection of assets to its userbase. While Coinbase revenue eclipsed 1 billion USD in 2017, the majority of their margin came in the month of December, when crypto trading volume reached a frenzy. Following the news of Binance posting 300 million USD profits through the first half of the year and eyeing a billion by the end of 2018, Coinbase has likely seen expanding its selection as a way to keep up with the competition while spurring greater trade-interest among its massive consumer base.

There are a few takeaways from the announcement worth reviewing:

Coinbase is making it clear that there is no guarantee in listing.

Following the Bitcoin Cash fiasco, Coinbase is taking a measured approach to doling out news related to updating their coin selection. In the case of BCH, Coinbase had announced months ahead that they would be supporting the coin at some point in the near future, without giving specific dates. However, the pump in BCH pricing in the 24 hours leading up to Coinbase’s listing led many users to cry foul over allegations of insider-trading, essentially accusing Coinbase employees of buying BCH in the interim period. By announcing multiple coin listings, in addition to providing subversive language about the nature of partnering with these currencies, the exchange is effectively trying to cloud an exact date for the listing and thereby avoid the previous nuisance of the coin dumping in price upon launching on Coinbase.

Regional Specific.

In addition to being vague on its commitment to listing the coins, Coinbase specifically states that not all currencies may be available to all regional customers within the same period of time. Which means, Coinbase is free to experiment with listing a currency on their exchange–thereby figuring out the kinks in their launch and creating a smoother user experience–prior to exposing the coin to the millions of customers located in the U.S. This gives Coinbase further leeway in implementing the new crypotcurrencies as, again, the Bitcoin Cash situation proved that the exchange was not prepared for such high volume. Besides causing the price of BCH to skyrocket to 3900 USD before plummeting back to 2800 USD in the span of hours, the Coinbase listing crashed GDAX trading for nearly a day, with BCH specific trades withheld even longer. The aftermath of the coin launch has given Coinbase clear indication that they are better served trialing their coin to a smaller audience, before giving it to the masses.

While the Coinbase announcement represents momentous news for the aforementioned cryptocurrencies–effectively exposing them to millions of new customers who have yet to venture outside of the user-friendly Coinbase exchange–the company is likely planning more nuance and subversion in the listing than we previously saw with Bitcoin Cash. Look to the upcoming Ethereum Classic launch as an indicator for how things will go with these new tokens, as Coinbase seeks to rectify the mistakes of last years BCH mess.

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