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Ripple’s Intermex Partnership Will Make the Most of On-Demand Liquidity

Ripple’s Intermex Partnership Will Make the Most of On-Demand Liquidity
  • Ripple has made a new collaboration with international money express (Intermex).
  • This company is a remittance firm that is highly focused on the Latin America/Caribbean corridor.

As it tends to do in swift fashion, the San Francisco-based tech firm Ripple has recently made a collaboration with the international money express (Intermex). This company is a remittance firm that is highly focused on the Latin America/Caribbean corridor.

This new collaboration between the two companies will make use of the On-Demand Liquidity (ODL) from San Francisco firm - denoting that the remittance service provider will also be making also be leveraging the cross-border payments system thanks to XRP.

In the new update, Intermex has said that it has been given the opportunity to use the liquidity service from Ripple through the usage of RippleNet.

The On-Demand Liquidity from Ribble makes use of XRP to help achieve almost instant currency transfers all over the world. The new service completely removes all the problems of pre-funding in cross-border remittance services by serving as a bridge (corridor) for sending and receiving different currencies.

The update also goes on to say that the use of ODL was made given the fact that XRP remains the efficient and widely used digital asset for settlements. Furthermore, there is the fact that token transactions will be settled at less than a penny.

The Miami based firm is going to reach around 17 countries in Latin America and the Caribbean. This will allow clients to transfer funds from the United States to these countries without all the hurdles and obstacles in the way.

The CEO of Intermex, Bob Lisy has said the following on the collaboration between the two companies:

“We are pleased to have begun the partnership with the Ripple team, and look forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency.” 

It will be interesting to see how this partnership plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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CNBC’s Brian Kelly predicts bullish YEAR for bitcoin

CNBC’s Brian Kelly predicts bullish YEAR for bitcoin

Quick take

1 minute read

  • Brian Kelly predicts a bullish future for bitcoin.
  • Bitcoin surpasses $16,000.

Brian Kelly, a well-known advocate for bitcoin recently said on the Fast money show for CNBC that the gains that bitcoin is currently making could be extended to a full year following the halving.

In an interview earlier this week on the 12th of November on the show, Brian said that the spike in high-profile and institutional investors that are moving towards cryptocurrency and specifically, bitcoin, could indicate an exciting and bullish future for the king coin.

“There's a lot of scope for upside. Most of the gains that come are the year after the halving, and we’re seven months into that year after the halving, and Bitcoin’s doing what it should do.”

The host, Melissa Lee said:

“So there could be five more months here of pretty good upside.”

Bitcoin has had a very exciting week this week after it surpassed the $16,000 key resistance level following what was a very exciting time during the United States presidential election. Bitcoin has seemingly come out on top with many people now predicting big things in the short and long-term for bitcoin.

You can see his interview here:

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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How Ethereum 2.0 good see strong recovery for ETH

How Ethereum 2.0 good see strong recovery for ETH

Quick Take

1 minute read

  • As we come to the end of the year, there are numerous things occurring in the crypto space that no one could have predicted. 
  • With bitcoin jumping in value over the past few weeks/month, the alternative crypto market is quietly making gains simultaneously.

As we come to the end of the year, there are numerous things occurring in the crypto space that no one could have predicted. With bitcoin jumping in value over the past few weeks/month, the alternative crypto market is quietly making gains simultaneously.

Joseph Young, an analyst on Twitter has said that the second biggest cryptocurrency in the space, Ethereum has been performing extremely well over the past two months.

The upcoming Ethereum 2.0 deposit contract announced that the network upgrade would go live on the 1st of December. This has more than likely had a big impact on that open and how it has flourished in value over the past few months.

With the release of Ethereum 2.0, it would remove minors as the proof of work model is substituted for the proof of stake protocol. From here, users will be able to collectively verify transactions on the network without any need for a third-party to get involved.

You can see the tweet here from Joseph below:

Experience for users on the platform is more than likely going to change following the increase of the transaction capacity across the overall network.

The co-founder of Ethereum, Vitalik Buterin has confirmed that what was once a 15 transaction per second on chain processing speed could be increased to somewhere up to 5000 transactions per second on the blockchain upgrade.

The stagnation for Ethereum has technically allowed for the network to consolidate above significant moving averages and will be good for the future of the project.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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How South Africa's scam history has made its investors stronger

How South Africa's scam history has made its investors stronger

South Africa is a country with great diversity and has a rich history which attracts about 2.5 million tourists into the country every year. But what’s more appealing about South Africa is its gold mining industry which is one of the aspects of the country that makes it very attractive to foreign investors. And it comes as no doubt that South Africa has the most industrialized economy in the continent as a whole. Besides natural endowments history and tourism, South Africa is one of the countries in Africa where the activities of the financial market are widespread. Due to its attractiveness, many individuals have fallen victim to scammers in the country in an attempt to make a decent investment. 

According to numerous reports, many investors and visitors have been scammed by South African citizens or even scammers who are established in South Africa because it is a hub for foreign investment. Scammers go a long way to defraud people and it is always almost genuine, which makes it difficult for the investors to notice. Some examples of these activities involve scammers posing as airport staff, engaging in unexpected chats, stealing from backpacks or carry-on bags, or even fake taxi drivers that take passengers to unknown destinations to defraud them. These scammers go as far as telling passengers to get a receipt for some kind of taxi voucher, bus card, or airport receipt, take them to the ATM to get that non-existent voucher, and then try to see you type your PIN before creating a distraction to snatch and run with your card. 

It does not only end at that the height of this was when several South African investors lost over $13 million to a bitcoin scammer. This is one of the most thought out scams in the history of forex scams in South Africa and there are several more of this magnitude or even worse. 

In this case, the mastermind of the bitcoin scam, Willi Breedt who was the CEO of Vaultage Solutions now defunct, allegedly scammed several investors of over 227 million rands ($13.35 million) and escaped to another country when things got messy. It all started when the scammer abruptly severed all connection and communication between his clients and going on vacation. After several reports from his investors to the authorities, he was under criminal investigation, during which he closed shop, it is alleged that he went into hiding as the investigations went on. Reports by local news outlets indicated that Breedt claims that his troubles started in 2019 when the crypto market slumped. However, the truth of the matter is that the markets immediately recovered sufficient enough for him to recover all his losses. Because the slump was short-lived as it occurred only between one day and recovered the next so all losses were recovered. But Breedt claims to have been bankrupt by the slump and went into hiding to avoid his clients. Investigations on his bank account uncovered fraud as some of his investors stated that they had about $3.15 million in their account and the next day there was nothing and Breedt was nowhere to be found.

The members of the crypto community in South Africa have not been amused by Breedt’s actions because it reflects back to them as untrustworthy. But what’s more, is that it has been so common in the country that investors are becoming more accustomed to it. Although scamming is still prevalent in the country, investors are becoming more cautious when investing in South Africa. They have been scammed so much so that they are now stronger and more aware of scamming activities in the country, making it an even harder task for scammers to cook up any story because they’ve seen all and heard all.

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Former Australian senator Cory Bernardi expresses his interest in BTC

Former Australian senator Cory Bernardi expresses his interest in BTC

Quick take

1 minute read

  • Former senator, Cory Bernardi, of the Australian Senate is getting ready to join bitcoin. 
  • During his time in office, Bernardi was a rather controversial figure and he is known for his views against any attempt to bring in anything that could bring the country even slightly to the left-wing.

Former senator, Cory Bernardi, of the Australian Senate is getting ready to join the bitcoin space. During his time in office, Bernardi was a rather controversial figure and he is known for his views against any attempt to bring in anything that could bring the country even slightly to the left wing.

Earlier this year in January, he stepped down from the Senate in order to form his own political party known as the Australian Conservatives.

Publishing a tweet earlier this week, the former member of the Australian Senate showed his interest in the bitcoin industry highlighting that he has been a fan of the asset for around two years now.

Bitcoin is one of those assets that you either love or hate. Many people from all over the world have given their views on the asset. Warren Buffett is one of the many people who has been one to criticise the leading cryptocurrency but he isn’t the only one. People like Buffett believe that bitcoin is an asset without value and that it is too risky to invest in but according to the former senator, the king coin is similar to any other asset, and the risks involved in it are just the same as the others.

Interestingly, he further added in the tweet that bitcoin is the millennial version of gold.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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