XRP in-store payments will be available soon since the Japanese banking giant SBI claims to be working on it. In today’s altcoin news, we take a closer look at the developments.
The Japanese SBI bank will be integrating XRP with the Ripple-based remittance app named MoneyTap. This app will use simple QR codes in order to provide people an instant, seamless way to pay for products and services with their XRP coins. The SBI says they will test out the app at a Tokyo-based restaurant before launching the service officially for retail customers by the end of 2019.
The app is licensed fully by the Japanese regulators and is currently using the Ripple-based cross border payment solution xCurrent in order to power up the instant remittances between about 13 banks in the region. SBI is also working to roll out MoneyTap to a banking consortium that is led by the SBI Ripple Asia where 61 banks are participating, covering more than 80 percent of all banking assets in the country.
SBI holdings are one of the largest banks that get heavily involved in cryptocurrency. The company created the first bank-owned crypto exchange named VCTRADE and it recently announced that it will work hard to bring institutional investors to the platform, offering ethereum, bitcoin, and XRP. The bank noted:
“SBIVC currently offers services only for retail customers. After AML/CFT and custody solutions that we are planning to implement are finalized, we would like to move forward and start providing services to institutional investors.’’
SBI is also a strong supporter and partner to Ripple so the XRP in-store payments come naturally for the company. They invested in the San Francisco startup back in 2016 and the CEO of the bank Yoshitaka Kitao was recently appointed to Ripple’s board of directors. According to co-founder Chris Larsen, Kitao will play a very important role in helping the startup expand around Asia. As it was reported in the best cryptocurrency news sites, Larsen was quoted saying:
“From conventional financial markets to digital asset markets, his deep understanding of the financial services industry will offer valuable business and financial expertise to help Ripple continue to scale. Approximately half of our customers are located in Asia-Pac today, and we’re rapidly expanding our global footprint across the region. Mr. Kitao comes at a perfect time for Ripple as we look to deepen our customer base in Asia and beyond.’’
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"The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China," he said (translated).The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.
Five Cannabis Infused Cryptocurrencies To Invest In This Year
DopeCoin Gold (DOPE)DopeCoin Gold has been featured in the coming altcoin news many times - as a blockchain and cryptocurrency which aims to 'provide marijuana enthusiasts with a modern and secure way of doing business for the 21st century’. Created on Bitcointalk, DopeCoin Gold (DOPE) was first launched in early 2014. The creator of this altcoin also founded CryptoBillings which is a payment processing application for vendors interested in accepting crypto. You can purchase DopeCoin Gold as one of the five cannabis infused cryptocurrencies on markets such as Bittrex.
HempCoin (THC)HempCoin launched in 2014 and just like DopeCoin, aims at revolutionizing the cannabis industry by providing a trusted network currency. As the website behind this project notes: “HempCoin is on a mission to achieve mass adoption in the agriculture sector by offering solutions that tackle the issues plaguing cross-border transactions. We aim to offer solutions for the lack of banking and payment services for industrial hemp and legal cannabis businesses.” You can buy HempCoin (THC) on Bittrex.
PotCoin (POT)PotCoin also launched in 2014 and quickly made a name for itself - becoming one of the frontrunners in the cannabis crypto industry. This is why it is in our list of five cannabis cryptocurrencies to watch out for. From its website: “PotCoin provides an underserved legal cannabis industry with a decentralized infrastructure and payment solution. Using PotCoins, industry participants can realize significant cost savings, scalability, and unparalleled enterprise security.” PotCoin can be used to buy weed paraphernalia in different online headshops. The website also advertises a unique Shopify store. Staking rewards are also present on the POT blockchain.
CannabisCoin (CANN)CannabisCoin (CANN) deserves to be in the five cannabis infused cryptocurrencies to watch out for. Even though it was originally planned to produce its own medical-grade marijuana products (priced at 1 gram of weed at 1 CANN coin) the cryptocurrency was also self-titled as 'The Marijuana Bitcoin'.
Paragon (PRG)Paragon is also featured in our altcoin news as one of the five cannabis cryptocurrencies. It launched in 2017 with a main goal of: “…building the next generation of seed-to-sale tracking software based on blockchain, while offering cannabis entrepreneurs a high tech co-working environment.” However, its plans got derailed when the SEC came down hard on the project for violating the rules regarding the issuance of security tokens. The CEO of Paragon, Jessica VerSteeg, is a former Miss Iowa winner. She was in the news for framing the SEC ruling as a positive for Paragon at the time, stating: “Paragon is proud that the PRG token is included in today’s action by the SEC and are thereby being granted the opportunity to avail itself of this groundbreaking path forward while continuing to pioneer efforts and to participate in the ever evolving ICO marketplace.”
Tim Draper Believes Crypto And Libra Are Bridges To A Bitcoin World
“I think all these other cryptos are bridges to where we have a Bitcoin environment,” he said.Appearing in the unique trademark Bitcoin tie, Tim Draper believes that US regulators were too heavy-handed dealing with innovations like Bitcoin, blockchain and related fields - which is what he told CNBC. He did not say anything about other altcoins which might have been featured in our altcoin news section. When it comes to Libra, he said that there was no need to demand regulatory assurances before the product had even launched.
“We’re putting regulation before the innovation — Facebook’s just announced Libra; they haven’t even been able to ship it yet, and the regulators are all over them,” he continued.Currently, many best cryptocurrency news sites explore the link between Libra and Bitcoin. At press time, Bitcoin looks stable and is trading more predictably after a turbulent week which saw a lot of price swings as the Congress debated a cryptocurrency policy. Tim Draper believes that there is lack of Bitcoin support against government. He is in a lot of interviews recently, talking about being a Bitcoin bull, his investments in the crypto space as well as his outlook on the future of the crypto space.
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