Coinbase Launches International Payments Service

It has been reported that the U.S. cryptocurrency company giant, Coinbase is now offering international payment service that would enable its customers to transfer funds using Ripple (XRP) and Stablecoin USDCoin (USDC).

According to the US exchange and wallet provider users of its wallets will be to enjoy zero fees for sending to other Coinbase users and a nominal on-chain network fee for sending outside of Coinbase.

Compared to traditional ways of transferring money XRP and USDC is much cheaper and faster as it only cost 1 cent and a dollar respectively compared to banks that can charge up to $30 per transaction.

Ripple is the third largest cryptocurrency in terms of market capitalization and perhaps has the highest number of financial institutions in the crypto space.

USDC is a Stablecoin which was launched by Circle in September 2018, unlike other stablecoins USDC is not only backed by Circle solely as it was designed to have multiple issuers as more organizations join Centre, an open-source consortium that develops a decentralized network of fiat stablecoins.

Nasdaq Stock Surges 20% After Bitcoin Rally

The sudden surge of bitcoin prices have recently caused this Nasdaq listed stock to surge in value.

It seems that Riot Blockhain (RIOT) stock prices is syncing with the price of Bitcoin which is not a surprise since its current business, crypto mining, is based around Bitcoin’s price.

This is coupled with a recent announcement that the crypto-centric company will be launching its own cryptocurrency exchange will help it diversify income stream which is solely based on mining cryptocurrencies of late.

Whatever the case is it seems that traders sees value in Riot Blockchain company that has posted some tremendous gains in the last few weeks.

It must be noted that Riot Blockchain is still a boom or bust play where it is great when the going is good and equally bad one when things gets rough.

XRP Exchange Traded Product Listed In Swiss Stock Exchange

It has been recently reported that Switzerland’s premier stock exchange SIX is listing a Ripple (XRP)-based Exchange Traded Products (ETP).

The ETP will be called Amun Ripple (AXRP) which according to the CEO at Amun, Hanay Rashwan will be the world’s first XRP ETP.

Amun is a cryptocurrency derivatives company that is behind the said XRP-based ETP.

It is expected that the AXRP will be ready in the following months preferably wihti the next two months according to Rashwan.
Aside from the XRP-based ETP Rashwan also reveals that it has gained approval from SIX to launch four more ETPs which includes: Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM), and Eos (EOS).

This development confirms the status of SIX as one of the most progressive stock exchange in the world for listing crypto-centric Exchange Traded Products.

Puerto Rico Has Now Its Own Crypto Friendly Bank

Puerto Rico will finally see its first crypto friendly bank which will be called San Juan Mercantile Bank & Trust International (SJMBT) that is primarily aimed to serve cryptocurrency traders.

SJMBT is licensed by Puerto Rico’s Office of the Commission of Financial Institution (OCIF) to be an international financial entity (IFE) which is the unit of Mercantile Global Holdings (MGH).

This is the same holding company that owns the soon-to-be-launched institutional-grade electronic trading platform for digital assets, San Juan Mercantile Exchange (SJMX).

SJMBT will provide custody and settlement services for both fiat and crypto traded on the exchange.

It must be noted that SJMBT will not be insured by the U.S. Federal Deposit Insurance Corporation but deposits will be placed at corresponding banks that are.

While the bank is new its founders are finance veterans such as Nick Varelakis who is a former executive director of JPMogan Chase for business and J. Rober Collins Jr. the former president of the New York Mercantile Exchange.

Food Tech Giant Leverages Blockchain To Combat Salmonella And E. Coli

According to news reports online the Swiss food technology giant Buhler introduced two food safety products that can potentially integrate blockchain technology.

This was revealed at the Microsoft booth at the Hannover Messe Insdustrial event in Germany last April 1st.

The blockchain-ready tools presented aims to reduce microbial contamination in dry goods which will be connected to Buhler Insights Internet of Things service that is hosted in Mircrosoft Azure cloud platform.

The first of these tools is Laatu which is able to destroy over 99.999% of salmonella while maintaining the quality nutritional value of the food by exposing dry foods to low energy electrons, this same tool is also effective against E. Coli.

The second Tool is called Tubex Pro, a scale system that self-optimizes and produces flow of production data.

Both of the aforementioned tools can be linked to a blockchain to provide a transparent and secure audit trail for everyone involved in the supply chain.

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