Ripple signs up three cross-border payment services
Three companies that provide cross-border payment services plan to use technology developed by startup Ripple that employs cryptocurrency XRP to speed transactions. Ripple, a large holder and promoter of XRP, said its platform for cross border payments, called xRapid, is now commercially available and that it had signed up firms Cuallix, MercuryFX and Catalyst Corporate Federal Credit Union as clients. XRapid uses XRP, a virtual currency powered by distributed database technology called blockchain, to make international payments faster, according to Ripple. Mercury FX and Cuallix are money transfer companies, while Catalyst is a wholesale cooperative financial institution that provides a range of services to 1,400 credit unions throughout the United […]
The crypto world is going wild for ‘stablecoins’ — here’s everything you need to know about them
The latest innovation in the fast-moving world of cryptocurrencies is the “stablecoin” – cryptocurrencies pegged to real-world assets such as the dollar or gold. A report from crypto wallet provider Blockchain released this week found that “the number of active stablecoin projects has dramatically increased over the past 12-18 months and more than a dozen project teams have stated they plan to launch in the coming weeks/months.” There are now over 50 in development globally. Here’s everything you need to know about the hottest new area of crypto: What is a stablecoin? “Stablecoins” are cryptocurrencies whose prices are linked to a real-world asset. In theory, they could be linked to […]
Bitcoin Price: Is blockchain cryptocurrency still the future?
It’s highly volatile, can be extremely risky, and is something most have heard of but don’t know much about. And after a horror 12 months which saw Bitcoin plunge by more than 60 percent most investors who were bold enough to invest are now wondering if they will ever reap any reward from their investments. While nothing in economics is certain, those who trade and invest are fairly confident it will happen but not straight away. According to Fred Schebesta, Co-Founder of Finder-backed cryptocurrency financial services company HiveEx.com, crypto is basically digital gold and like the real thing, is more of a long-term investment. Mr Schebesta admits the high risk […]
OnRamp’s AUDRamp goes live as first AUD-pegged stablecoin cryptocurrency
Shortly after the announcement of a still-unnamed AUD-pegged stablecoin from Bit Trade and Emparta, set to launch in 2019, OnRamp Technologies has gone live with the world’s first fully operational and fully compliant fiat-backed AUD stablecoin. The move comes as part of OnRamp Technologies’ broader efforts to tokenise assets as part of an ASIC-approved registered managed investment scheme. AUDRamp (AUDR) is up first, along with the slightly mind-bending ERC20 bitcoin-pegged BTCR, which is, in a sense, putting bitcoin on the Ethereum blockchain. AUDR got the stamp of approval from Australian regulators on 8 June, making it one of the earlier projects to achieve that level of formal recognition. Beyond being […]
Australian Fintech heavyweight to launch institutional-grade security token exchange in Malta
Rick Klink the founder of Paritech and OpenMarkets, Australia’s largest independent trading platform by trading volume of over AUD50 billion per annum, heads up Malta Digital Exchange (MDX) and brings his ground-breaking technology to the digital asset space. The cryptocurrency and blockchain sector saw exponential growth in 2017, now a push towards regulation will provide trust and a safe environment for institutional investors, allowing them to participate in the global economy. Security tokens are the next generation of regulated securities, which are being built on blockchain-based infrastructure rather than being restricted to legacy systems. MDX aims to become the world’s premier security token exchange, which will enable greater market efficiency, […]
CSIRO and the University of Sydney’s Red Belly Blockchain breaks new ground for speed
The University of Sydney and CSIRO’s Data61 say they have successfully created a blockchain that can process a mass amount of transactions significantly more quickly than public blockchains, such as the one behind bitcoin. New trials of the Red Belly Blockchain run on Amazon Web Services infrastructure have shown an average transaction delay of only three seconds and a throughput of 30,000 transactions per second. In comparison, bitcoin processes only three to seven transactions per second and as of August had an average confirmation time for a transaction of 10-30 minutes (during peak trading periods in January this has reached as high as almost 3000 minutes per transaction), according to […]
Cryptocurrency exchange Blockbid announce beta launch of live trading
Blockbid will be offering live crypto trading online. Its new feature, which will allow users to trade via secure means, is set for a beta launch on Sep. 28
PlayChip digital currency exchange “PlayXchange” registered
The PlayChip Foundation has been registered as the first digital currency exchange in Australia with its own native token. Last week the PlayChip Foundation Ltd was registered to provide Digital Currency Exchange services by Australian regulatory body AUSTRAC. AUSTRAC, the Australian Transaction Reports and Analysis Centre, is Australia’s anti-money laundering and counter-terrorism financing regulator and financial intelligence unit. The registration is pursuant to subsection 76E(2) of the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 (AML/CTF Act Amendment Act 2017). The registration signals a huge step forward to the Foundation, which will operate a cryptocurrency exchange called the PlayXchange as part of a global payment solution to its more than […]
