Crypto Daily News: XRP, Bitcoin, Stellar Lumens, Dash, Binance Coin, IOTA
- Even as the cryptocurrency market crashed owing to concerns over the Bitcoin Cash [BCH] hard fork, with all major coins dragged down by a 12 percent drop in Bitcoin’s price, XRP overtook Ethereum [ETH] to become the second most valuable crypto. Currently, XRP’s total market value stands at $18.97 billion while that of Ethereum is at $18.35 billion.
- CIMB Group, the fifth largest bank in the ASEAN region, has joined hands with Ripple, the parent company of XRP, for boosting instant cross-border payments across the markets operated by CIMB. CIMB will join RippleNet, a decentralized payments network of banks and payments providers, which will aid the bank in expanding its global payments network.
- Thailand’s Siam Commercial Bank (SCB) has been working with Ripple to bring transform the way banks operate. The aim is to turn on of the major traditional banks into an entity that concentrates on technology to explore new opportunities. “SCB was a product-led bank that focused on pushing product to customers. They now prioritize a heightened commitment to customer-centricity, meaning they give customers what they want versus what the bank needs to sell. This is in part driven by their realization that banks, as they exist today, will not be relevant five years from now,” Siam chief technology officer and head of operations said.
- In a major blow to Bitcoin [BTC], Benoit Coeure – an executive with European Central Bank (ECB) – has stated that the largest cryptocurrency is “a combination of a bubble, a Ponzi scheme, and an environmental disaster”. The coin has declined sharply (15%) over the last two days, as a BCH hard fork cast a dark cloud over the crypto industry. He added that Bitcoin is a clever idea, but not every clever idea is a good idea.
Stellar Lumens [XLM]
- Latoken, a Europe-based cryptocurrency exchange, recently announced its support for Stellar Lumens [XLM]. “Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost,” Latoken said in its website.
- Explaining the features of Dash’s InstantSend in a Reddit post, Dr. Darren Tapp – a core group researcher – said InstaSend is able to scale perfectly and therefore, no stress test was needed for it. In his reply to a question about the future expansion of the network and required resource, he said, “I’m from the ASU team here. We thought about trying to find a limit on instant send. However, the limit is dictated by the number of masternodes. Currently, the network can process more instant send transactions than will fit into blocks. Thus, I feel it’s a bit early to “stress test” instant send.”
- Dash Text, a Venezuelan SMS-based crypto payment platform, has added a simplified PoS integrated sending feature with the aim of simplifying Dash payment from a non-smartphone to the wallet of a merchant. Dash Text is quite similar to the MyDashWallet.
Binance Coin [BNB]
- XcelTrip, a Singapore-based travel booking platform, announced that it will start accepting payments in BNB, the native coin of Binance. Now, 50,000 hotels on the travel platform accept payments made in BNB tokens.
- The IOTA Foundation has been aggressively expanding its team, and recently inducted two of its long-time community members – mathematician William Sanders and physicist Andreas Penzkofer – to its team. Computer scientist Luigi Vigneri is another inclusion. The Ph.D. holder in computer science comes with a vast experience in network modeling, graph, and queuing theory, large-scale optimization and performance evaluation of networks.
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