Ripple Pilot Cuts Payment Fees Up to 70%

Ripple published the results of its xRapid pilot programs on Thursday…stating that pilot-takers saw significant savings on fees as well as overall transaction times…As a result, the startup aggregated the data into the 40-70 percent savings released in its report on Thursday…transactions across borders only took a few minutes, compared to a period of several days for traditional payments of that kind…While the transactions from one financial institution to another took a few minutes, the portion actually involving the XRP ledger only took a few seconds…Now Ripple plans to focus on moving from pilot programs to full-scale launches.
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Huawei to Offer First Crypto Wallet App on Latest Smartphones

Huawei is partnering with BTC.com to roll out a mobile cryptocurrency app for the tech giant’s newly launched app store…BTC.com, which is owned by mining giant Bitmain, tracks cryptocurrency mining and block information, while also providing a digital wallet service…the new wallet application will appear in Huawei’s proprietary app store, AppGallery, which was launched in March…Currently, AppGallery is only available for customers via a pre-install on the latest Huawei devices, but will be rolled out for older versions in the second quarter of this year…and is likely to open up cryptocurrency services to a potentially huge user base.
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Pineapple Fund Writes Farewell Post, Reports That All Funds Have Been Donated

Pineapple Fund, a Bitcoin-only charity, has reportedly accomplished its ultimate mission and donated 5104 bitcoins (BTC) or $55 mln to various nonprofit organizations…In December, when the BTC price approached its record high of $20,000, an anonymous donor who goes by the nickname Pine set a goal to give away 5057 bitcoins worth around $86 mln at the time…the fund donated $55,750,000 to 60 charities around the world, supporting a variety of projects from clean water supply in sub-Saharan Africa to digital rights protection.
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S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React

Upbit, South Korea’s largest cryptocurrency exchange, is being investigated by local police and ten investigators for alleged fraud…Upbit is a crypto-only exchange run by a subsidiary of Korean tech giant Kakao, and currently the fourth largest crypto exchange globally by 24-hour trade volume…police believe the exchange has faked its balance sheets and deceived investors…FSC reportedly sent ten investigators to the exchange’s head offices in Seoul at 10 am this morning, and will access the company’s computer system to audit the exchange’s virtual currency holdings.
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Lykke Launches Blockchain Accelerator and Venture Capital ‘Spin-Off’

Crypto exchange Lykke has partnered with two former executives from IBM and UBS to launch a blockchain-focused accelerator and venture firm…The Zug, Switzerland-based Blockchain Valley Ventures (BVV) announced on Thursday that it will offer a variety of services to businesses endeavoring to use the blockchain – including capital investments, ICO and marketing support and token development aid. The firm said it will also assist businesses in implementing Lykke’s open source blockchain technology….The firm said it intends to initially concentrate on E.U.-based projects, but it has its sights set on both global markets and a global impact.