El Salvador announced plans to legalize the cryptocurrency later that year – Crypto Trading Futures

El Salvador announced plans to legalize the cryptocurrency later that year – Crypto Trading Futures

Ripple Signs Up 13 New Companies Scoring 200 Customers Worldwide

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London-based Euro Exim Bank will become the first bank to publicly announce using the XRP cryptocurrency for cross-border payments. Meanwhile, RippleNet managed to 
achieve next milestone scoring 200 consumers worldwide.


Ripple, San Fransico based provider of leading enterprise blockchain solutions for payments, has announced that now 200 global customers are signed up for RippleNet.


In a blog post, the company stated that 13 financial companies had already signed up for Ripple’s payment technology, RippleNet. Among them are Euro Exim Bank, JNFX, SendFriend, Transpaygo, FTCS, Ahli Bank of Kuwait, BFC, ConnectPay, Bahrain, WorldCom Finance, Pontual/USEND, Olympia Trust Company, and Rendimento.

Kaushik Punjani, Director at Euro Exim Bank, commented:


As a result, Euro Exim Bank, along with JNFX, SendFriend, Transpaygo, and FTCS will use the digital asset XRP for liquidity when sending a cross-border payment, which helps financial institutions avoid the hassle of pre-funding accounts in destination currencies, allowing them to make faster, lower cost payments than they can through the traditional correspondent banking system.

David Lighton, the founder of SendFriend, said:


The existing correspondent banking system is slow, inefficient and costly. SendFriend was founded at MIT with the belief that there must be a better way to send payments. We are excited to partner with Ripple to do just that. Through our partnership, we are bringing our customers a next-generation, blockchain payment solution that leverages XRP to address many of the efficiency and equity problems with existing remittances. For them, that means cheaper and faster payments.”

Other institutions that have recently joined RippleNet, like CIMB or Olympia Trust Company, will use Ripple technology for immediate settlement and more transparency payments.

Currently, RippleNet operates in over 40 countries across six continents. According to Ripple’s CEO Brad Garlinghouse, RippleNet is seeing two or three new customers join each week since last year. He said:



A number of other companies have already started using xRapid, which uses the XRP cryptocurrency, for international payments. Among them are MercuryFX, Cuallix, and Catalyst Corporate Credit Union. Back in June 2018, Ripple’s CEO predicted that major banks would use xRapid as a liquidity tool, and his prediction seems to be true. London-based Euro Exim Bank, which focuses on providing financial services for export and import companies, will become the first bank to publicly announce using the XRP cryptocurrency for cross-border payments.



SWIFT vs RIPPLE
Since Ripple has started gaining traction, it can not remain unnoticed by companies providing the same services. The Society for Worldwide Interbank Financial Telecommunication (SWIFT), the global provider of secure financial messaging services, is considered as Ripple’s major competitor.

The two companies are set to face off in Germany at the ITC conference that will take place in February. The companies will be represented by their global heads of banking – that’s Marjan Delatinne for Ripple and Wim Raymaekers for SWIFT. The debate will be mainly centered on each company’s perception of what the future looks like.

Just for a reminder, Ripple’s CEO Brad Garlinghouse recently dismissed all the rumors around Ripple-Swift potential partnership, highlighting:

“What we’re doing and executing on a day-by-day basi

New Blockchain Center Backed by Microsoft and IBM Opens in New York City

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A long-lasting bearish trend that holds its grip over the crypto-market does not seem to scare away the technology major fans. Thus the NYC Economic Development Corp. backed by IBM and Microsoft is opening a new business centre devoted to the blockchain.



Some may say that the time of Bitcoin and other top cryptocurrencies has passed. The crypto-market is shattering under an onslaught of major price swings and ubiquitous capital outflow. Lots of crypto-startups that stemmed from a vivid dream of widespread Bitcoin adoption are forced to shut down their offices and downshift their personnel. The newspapers frequently use a term Crypto Winter to describe a current trend rolling out in the industry.

Nevertheless, while digital assets empowered by the blockchain technology are undergoing hard times, the technology itself is almost at the peak. Blockchain-based systems of a distributed digital ledger are successfully implemented in many first-class companies including American retail giant Walmart Inc. Moreover, the blockchain technology has been a keynote address of large tech companies like Blue Big and Microsoft Corp. that have been exploiting the technology to test numerous user applications.

No wonder that while naysayers get sharp and vocal in their claims of crypto-frenzy, some companies stay loyal to the blockchain technology and consider a nascent decline as an explicit opportunity.

Blockchain Centre

For example, the NYC Economic Development Corp. refuses to drive the last nail in the coffin of cryptos and the blockchain saying that the market plunge is temporary and it is very common for such a robust technology. As a part of a partnership with affiliates of venture-capital fund Future\Perfect Ventures and the Global Blockchain Business Council, the corporation does not think of better time to build a brand-new Blockchain Centre located in downtown Manhattan.

The EDC spokesman commented on the opening saying that the corporation is playing a long game and it is not going to give up on the blockchain. The chief strategy officer at the EDC, Ana Arino was cited as saying: “While we don’t know what the future holds, we want to make sure we have a seat at the table shaping it.”

The location chosen for Blockchain Centre is quite trendy. The Flatiron district hosts many innovative tech companies and it is also called a New York alternative of Silicon Valley.

The 4,000-square-foot centre will offer everything from coding classes to lunch lectures for software developers to the general public. Tenants of the 12-story building include data aggregator Quovo Inc., startup investor Palm Drive Capital LLC and beauty services outfit Glamsquad Inc.

The city of New York is providing the one-time initial investment of $100,000. Further, the operators are expecting to raise funds via membership dues and corporate partnerships. It is worth mentioning that IBM and Microsoft Corp. have reportedly joined a list of the project’s strategic partners as Jalak Jobanputra, managing partner at Future\Perfect Ventures, reveals.

Speaking of the Blockchain Centre Jobanputra said: “This is a neutral spot, there’s no one platform or company that has undue influence over programming. What we want entrepreneurs to have is a choice.”

New York and the Blockchain
Being at the frontier of the financial world, New York is ready to embrace every initiative. The blockchain is no exception. According to Bloomberg, last year New York’s blockchain startups received more than $500 million in venture capital funding that is up 500% compared to the previous year. The same surge was observed at the job market offering more than 2,200 blockchain-related job postings.

Considering the sheer blockchain demand, the State of New York is officially launching a cryptocurrency task force in a genuine attempt to understand cryptocurrency markets and all their underlying blockchain technology.

Satoshi Nakamoto:-Mysterious Bitcoin Creator World’s 44th Most Powerful Person in Finance

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A faceless person called Satoshi Nakamoto has bagged a rank among the world’s top 100 global finance leaders, leaving well-known personalities like Mark Zuckerberg, Kristalina Georgieva, and Paul Krugman behind.

Worth.com has named Satoshi Nakamoto the 44th most powerful individual in finance. The pseudonym, who could be a man or a woman, a person or a group of persons, an Earthling or an alien – or just about anything, is the entity behind the creation of Bitcoin, the world’s first peer-to-peer electronic cash payment protocol which has become a multi-billion dollar market containing thousands of financial and technological startups.

A Game Changer
Bitcoin allows people to send and receive payments directly to each other without needing a payment institution. It maintains the record of these transactions on a public ledger called the blockchain – practically doing what a bank does – at a much cheaper and faster rate.

Some of the world’s leading corporations of the likes of IBM, Bank of America, MasterCard, and JP Morgan are patenting solutions based on the bitcoin’s open-source solution, the blockchain. New startups are cloning its characteristics to create their allegedly “improved” user-specific solutions.

Bitcoin is also considered to be a financial weapon against an inflation-friendly fiat system. Nakamoto introduced a 21 million supply cap on the digital currency. The finite supply makes bitcoin more scarce than gold, the reason why speculators purchase and sell the digital currency in open markets like any other financial instrument.



Nakamoto is believed to control 980,000 bitcoins—roughly 5 percent of all of the Bitcoin that can ever be mined—giving him a net worth of $19.4 billion at the currency’s high point. It’s also enough of the cryptocurrency to allow Nakamoto to flood the market and tank Bitcoin’s value if he decides to cash out—either for profit or to prove some kind of the philosophical point—however unlikely that might be.



Blythe Masters Beats Nakamoto
Blythe Masters, the former chief executive officer of Digital Asset Holdings, a New York-based blockchain development firm, came in the 27th position of the same list. Her decade of experience in Wall Street helped Digital Asset land major clients in the banking sector, most notably the Australian Securities Exchange and Google.

Masters left Digital Asset, citing personal reasons, in December 2018.

Another crypto personality, Kelly Loeffler, the CEO of Bakkt, an ICE-backed bitcoin futures platform, also made to the list of global finance leaders, coming 72. From her profile:

If Bakkt succeeds, it will not only boost investor trust and access to Bitcoin as an asset, it will also give ICE a serious edge over the myriad other startups trying to corner this emerging market.

Nobel Prize Nomination
In 2015, UCLA Professor Bhagwan Chowdhry had sought nomination for Nakamoto for the Nobel Prize for Economic Sciences. But the Royal Swedish Academy of Sciences said that it would only nominate an anonymous person if he or she revealed themselves.

The prize, as in this instance, the Sveriges Riksbank Prize in Economic Science in Memory of Alfred Nobel, is never awarded anonymously nor posthumously.

The crypto community had expressed its disappointment over the matter, but they had also speculated on how the government agencies would treat the real Satoshi Nakamoto once his identity is open in public. Queries were also raised about whether Nakamoto should be given the entire credit of creating Bitcoin when he had support from many researchers

Can Ethereum Hit The $200 Mark Before The Hard Fork?

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Ethereum continues to see a massive increase in contrast to the stagnant and continuous bearish trend of the crypto market. The recent gains experienced by Ethereum made it the best performing of the top cryptocurrencies in the past 30 days. Ethereum had seen gains as it attempts to recover the huge loss it took when the crypto market took a huge plunge in November.

The plunge that struck the crypto market in November saw the value of ethereum drop from around the mark of $220 to $80 and equally lost its position as the second-rated cryptocurrency to Ripple’s XRP within the same period. However, throughout the past three weeks, it has seen a considerable reversal in value as there has been about 80 percent gain. The gains from the $80 mark to $159 as at report time. Also, on the 2nd of January, the cryptocurrency overtook Ripple’s XRP, taking back its second position among other cryptocurrencies


The Reason For The Drastic Gains of Ethereum

The drastic gains that the cryptocurrency has gained has made crypto enthusiasts to adduce the recent success to the impending hard fork that is already scheduled to take place on January 16.



Alex Krüger, an economist and a cryptocurrency trader, stated through a tweet on the eve of Christmas, 2018 that “Ethereum’s Constantinople fork is coming on block 7080000, around January 16, 2019. Constantinople will reduce the block rewards from 3 to 2, decreasing new ETH supply accordingly. On the long run, this is decidedly bullish.”

The historical record of Ethereum’s hard fork has led to an increase in its value afterward. Ahead of the hard fork, the cryptocurrency has seen a boost because of the possibility of positive gains after the hard fork has taken place.

Can Ethereum Surpass $200 Ahead of its Hard Fork on January 16th

The cryptocurrency increase to the value of $200 will see it near the mark it was in November 2018 before it took the deep plunge with other cryptocurrencies. This will make the cryptocurrency distinctive in the market.

The progress Ethereum has made in the past couple of days and the historical antecedent of increase after a hard fork has taken place has increased the interest of investors in the cryptocurrency ahead of January 16. With the recent move in the past days, reaching the mark of $200 before the set date at this point looks possible.

New York is “first state in the nation” to have its own Crypto Task Force

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The new task force will be required to submit its first crypto report by December 2020.

New York has become the first state in the nation to have its own cryptocurrency task force, according to a Facebook post published yesterday.

The news was shared by Clyde Vanel, Chair of Subcommittee on Internet and New Technologies and New York state assemblyman. In the post, he said that the New York had become the first state to have its own crypto task force, which will be used to “study how to properly regulate, define and use cryptocurrency.”

New York state Governor Andrew Cuomo signed the bill into law last week, which will henceforth be known as “The Digital Currency Study Bill.”

The members of the task force will be appointed by the Governor, Senate and Assembly, the announcement states, and will include technologists, consumers, institutional and small investors, blockchain businesses and academics.

The team will assemble various reports on the digital currency, crypto and blockchain industries in the state, including the number of digital currencies currently being traded, their market share, and the impact such currencies have on the state and local tax receipts. They’ll be required to submit these reports by 15 December next year.

“New York leads the country in finance. We will also lead in proper fintech regulation. The task force of experts will help us strike the balance between having a robust blockchain industry and cryptocurrency economic environment while at the same time protecting New York investors and consumers.” Vanel said in the announcement.

Julie Samuels, Executive Director of Tech: NYC also believes that the new task force will play a vital role in positioning New York at the centre of the nation’s innovative strategy.

“New York’s cryptocurrency task force – the first of its kind in the nation – shows how our state is leading the way in studying and understanding these technologies to ensure they can thrive in a responsible and effective way, further solidifying New York’s position as a global hub for smart innovation.”

Investor Fred Wilson says Crypto will enter “new bullish phase” in 2019

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Despite increased pressure on the crypto sector, he believes it’s going to be a year of progress for business, adoption and smart contracts. 

With the new year now thoroughly welcomed in, businessman Fred Wilson believes the crypto market will bottom in 2019, entering a “new bullish phase,” according to a recent statement.

The early Twitter and Tumblr investor welcomed in the new year on his blog, before laying out his predictions for 2019. They’re not quite the chipper aphorisms smattering the New Years’ cards, but crypto will nevertheless experience several promising developments this new year, according to him.

First up, Wilson predicts that the US will receive a new president by the end of 2019, and that the S&P 500 would likely hit 2,000, where he expects it to stay for most of the year. He also said that it could take most of 2019 to find the bottom on crypto-tokens.

“I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows. I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”

How will this ‘bullish phase’ come about? Wilson believes 2019 will be the year in which many promises made in 2017 are fulfilled, specifically the launch of “big name projects,” (such as Protocol Labs’ Filecoin project), and ‘next-gen’ smart contract platforms that will “challenge Ethereum for leadership in this super important area of the crypto sector.”

He continued that he also expects Ethereum’s open source community to “ship a number of important improvements to its system in 2019 and defend their leadership in the smart contract space,” and expects to see “meaningful progress” for stablecoins, cryptoassets and gaming, and earn-spend opportunities overseas.

The crypto sector will see its fair share of pressure, though, particularly from regulators and fraudulent schemes.

“The area I am most concerned about are actions brought by misguided regulators who will take aim at high quality projects and harm them. And we will continue to see all sorts of failures, from scams, hacks, failed projects, and losing investments be a drag on the sector.” he wrote. Even so, he remains “incredibly optimistic” about 2019,

“That is always the case with a new emerging technology that allows anyone to set up shop and get going.” he continued. “Permissionless innovation produces the greatest gains over time but also comes with the inevitable bad actors and actions.”

For Wilson, it’ll be a case of taking crypto with a pinch of salt over this next year. Whether from progress or pressure, he’s convinced “it is going to be a doozy.”  

Coinbase announces instant PayPal withdrawals now available for all U.S. Customers

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Coinbase have announced that their new PayPal feature allowing U.S customers to withdraw to PayPal accounts has gone live as of today. 

The announcement is part of the "12 days of Coinbase" announcements, where each day at noon PST Coinbase announce new features, support for new cryptocurrencies, and more. Todays feature is the launch of the PayPal feature allowing U.S customers to withdraw directly to PayPal at zero fee cost to the client. 

Recap: Coinbase quietly introduces free PayPal withdrawals

The new feature will allow U.S customers access to their funds in a faster withdrawal method, utilizing one of the world's easiest and most widely-used payment platforms. With zero fees and fast withdrawals, the new feature will be most welcomed by U.S traders.

Coinbase commented on the announcement stating that they want to help their customers in having flexibility in using cryptocurrencies and being a part of the open financial system - "This integration is a big step forward in realizing that vision, allowing you to smoothly and instantly transfer your funds to cash."

Coinbase also announced that support for more countries will roll out in 2019. 

UK Parliament Offered To Add Bitcoin As Tax Payment

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The representative of the Conservative Party in the UK Parliament, Eddie Hughes stated the need to adopt Bitcoin to pay taxes and utility bills, The Daily Express reports.



According to Hughes, blockchain technologies are of great interest in society, hence his colleagues in the Parliament have to understand how they work. The speaker, for his part, said that he himself is a crypto enthusiast who has amateur knowledge in the blockchain field.



The idea of ​​introducing Bitcoin to pay for services was prompted by the Royal National Lifeboat Institution, which had started accepting digital currencies as donations. According to Hughes, this example indicates the possibility of using bitcoin as a means of payment in municipal systems.



In his speech, the lawmaker appealed to the recent decision by the authorities of the American state of Ohio to adopt bitcoin so that companies registered within the jurisdiction of the state could use the cryptocurrency to pay taxes.





Hughes concluded that in order to maintain the status of a progressive country, the UK should move one step ahead of events.



As it was previously reported, Tokyo authorities intend to take up the struggle against residents who evade paying taxes on profits received from cryptocurrency trading.