Category Archives: bitstamp

Bitcoin Price, Consistently Posting Record Highs, Approaches $4000

Bitcoin enjoyed large gains over the week, breaking the all-time high numerous times, and peaked at $3934.00 on the Bitstamp exchange during August 12's trading session. At the time of writing, the price of bitcoin is at $3867.84, up over six percent on the day. The recent price rise also brings the cryptocurrency above the three thousand threshold in British Pound and Euro terms.

It seems that bitcoin is gaining a reputation for being a safe haven asset, with mainstream media noting the negative correlation between bitcoin and global stocks amidst increased tension on the geopolitical stage. With few economic events or data releases, Trump's actions, or words, were most likely overemphasized in markets over the past week, with the market eagerly looking for any new information.

Bitcoin's rally is also boosted by the lock-in of SegWit, a scaling proposal and transaction malleability fix. While, on the the other hand, Bitcoin Cash experienced some problems with transaction malleability with exchanges and one of the developers committed to finding a non-SegWit solution to the problem. The hype and hysteria from the split has faded and the dust has settled; the teams will diverge and is healthy for the market, as indicated by the rising price of bitcoin. Moreover, the controversial split has brought greater attention from the general public to the cryptocurrency.

The hourly chart for BTC-USD is shown below, with a fractal resistance at $3934.00 confirmed. The most recent fractal support lies at $3695.17. As outlined by our weekly cryptocurrency market outlook, we suggested a buy position once the bullish saucer signal was triggered, highlighted on the chart below with the yellow ray at $3339.66. The market then went onto reach highs just below $3500, before pulling back to $3178.72 on August 9. The cryptocurrency quickly bounced back, with a bullish Ichimoku breakout on August 10 and by August 11, our initial target at $3622 was reached.

 

Over the short run, we examine the relation of the market price and the conversion line (blue), an important support at $3814.58 and gauge of short-term equilibrium. An hourly close below this level could point to an extended correction. However, BTC-USD is likely to return to this equilibrium and move higher, with similar behavior shown in preceding trading sessions. Usually, when the conversion line flattens in an uptrend, we should look to enter long positions once the market tests this support. Over the medium term, the Ichimoku cloud shows equilibrium to be around $3659 to $3768 for August 13, with this support zone indicating a good area to set buy limits.

With the Bullish Saucer just triggered this week, as shown below, we expect the upside momentum to remain strong in the weeks ahead. The extreme strength of the bullish momentum is also displayed by the conversion line, which is almost vertical. We expect the next target at $4270.80 to be reached within the next week or two, which is the 161.8 percent Fibonacci extension for the massive upward move from late March to mid-June.

Also, with just three near consecutive record highs posted since the fractal buy level at $1830 in July, bitcoin could keep surging higher until early November, when the next stage of SegWit2x is planned, that is a hard fork to 2MB which is opposed unanimously by Bitcoin Core developers.

Litecoin and Lightning Network Coming Very Soon to Bitstamp?

Bitstamp tweeted a mysterious video featuring a lightning bolt seemingly making a thumbs up which follows speculation that Litecoin will be soon added to the site. The video also suggests that access to the lightning network is coming too.


Litecoin Rumors

The mysterious tweet coincides with Litecoin creator Charlie Lee’s departure from Coinbase where he worked as their Director of Engineering for the past two years. Coinbase recently added Litecoin to the site and their exchange GDAX where it has seen good trade volume with today’s LTC/USD market seeing a 468,665 LTC trade volume in the last 24 hours.

This flurry of activity for Litecoin follows its implementation of SegWit. Yet to be implemented for Bitcoin, SegWit (Segmented Witness) is seen by many as the solution to Bitcoin’s current scaling problems, allowing for larger block sizes and faster transaction times.

SegWit and Litecoin

With its lightning network capabilities, Lee sees Litecoin’s long-term goal as alleviating some of the smaller transactional volume, perhaps using it for micropayments such as buying coffee with zero confirmation times or transaction fees.

Many already see Litecoin as a testing ground for future Bitcoin features, however, Lee remains committed to Bitcoin too, as he also contributes to its development and has tweeted in the past about Bitcoin being regarded as a real store of value – gold to Litecoin’s silver. He argues that if you are wiring $50,000 to your bank, you could still use Bitcoin for the increased security that comes from its larger network of decentralized miners.

When Lightning Strikes

The implementation of the lightning network on Litecoin, which was initially developed for Bitcoin, is now a reality on Litecoin. It brings instant payments with no need for block confirmation times. Security is enforced by blockchain smart contracts and payment speeds are in the milliseconds to seconds range.

Its scalability means that it is capable of handling millions – even billions – of transactions per second across the network. It is low cost, as it settles off chain it allows for exceptionally low fees, which is why it is ideally suited to instant micropayments.

The most crucial benefit of the lightning network, however, is its ability to cross blockchains. This will allow for cross blockchain atomic swaps without trust in a 3rd party. This feature means that the lightning network would also need to be available on that coin too, something that could be a reality with Bitcoin should the coin pull off its UASF to enable Segwit. We live in exciting times.

Do you believe the rumors? Should UASF be activated on Bitcoin or should Litecoin take the lead? Let us know in the comments.


Images courtesy of Twitter, AdobeStock, Reddit

The post Litecoin and Lightning Network Coming Very Soon to Bitstamp? appeared first on Bitcoinist.com.

6 Bitcoin Startups Leading The Digital Transformation of Financial Services

6 Bitcoin Startups Leading The Digital Transformation of Financial Services

1. Bitpay
“Want to get up and running with bitcoin? BitPay has partnered with some of the most popular e-commerce platforms and point-of-sale systems to make reliable, ready-to deploy integrations.”
Bitpay is building an fintech infrastructure for the future of payments, developing Bitcoin’s open-source ecosystem, and bringing Bitcoin to the world. Founded in 2011, BitPay was started because “we wanted to make it easy for businesses to accept bitcoin payments.” Bitpay is currently the largest bitcoin payment processor in the world, having created a “seamless, secure bitcoin payment experience” used daily by hundreds of thousands of bitcoin users. If payment processing was Bitpay’s first contribution to the Bitcoin cause, it was certainly not Bitpay’s last: Bitpay has enhanced the user experience with the BitPay secure bitcoin wallet and the BitPay Card , which gives bitcoin users a fast way to convert bitcoin into dollars and spend their funds anywhere Visa® is accepted. In addition, Bitpay has moved beyond payment processing with Bitcore , an open source platform built to power the next applications of Bitcoin.
“Bitcoin’s future looks very bright, and we plan on remaining on the forefront of this technology, creating more tools and services for everyone to use in innovative new ways.”

2. Bitstamp
“The way to trade Bitcoin. Safe. Simple. Licensed.”
Over 700,000 traders around the world use Bitstamp’s trading tools, making Bitstamp the world’s second largest Bitcoin exchange by volume (as of 2016).

Based in Luxembourg and started in 2011, the Bitstamp mission is “to be the safest and most reliable digital currency exchange on the market.” In continuing its strategy of Bitcoin UX Innovation, Bitstamp recently announced new digital currency trading pairs: “Litecoin has now emerged as the next candidate, with LTC/BTC, LTC/EUR and LTC/USD trading pairs to be launched in early June 2017.

As you would expect, the news that SegWit is likely to be activated for Litecoin was one of the key factors in our decision. We are also encouraged by Ethereum’s (ETH) potential, which will be made available shortly after, and we will continue to consider other digital currencies for inclusion on an ongoing basis.”
“We believe bitcoin is here to stay. Our goal is to provide reliable easy to use service for companies and individuals to exchange bitcoins.” — Nejc

3. Blockchain
“We are on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Our technology is revolutionizing the financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries.”

Blockchain is the world’s leading software platform for digital assets. Offering the largest production block chain platform in the world, they are using new technology to build a radically different financial system. “Our software has powered over 100M transactions and empowered users in 140 countries across the globe to transact quickly and without costly intermediaries. We also offer tools for developers and real time transaction data for users to analyze the burgeoning digital economy.”

According to their website, Blockchain serves over 14 million Bitcoin wallets, 160,ooo+ daily transactions, and has attracted VC interest to the tune of $30 million. “Blockchain is the early leader… They are actually making the entire ecosystem.” -The New York Times
“The work we do is driven by a collective desire to offer financial empowerment to everyone and anyone in the world. There’s nothing else we’d rather be doing.”

4. Blockstream
“Rethink Trust. Blockstream solves problems that undermine trust in today’s financial systems.

Posted on 7wData.be.

6 Bitcoin Startups Leading The Digital Transformation of Financial Services

1. Bitpay
“Want to get up and running with bitcoin? BitPay has partnered with some of the most popular e-commerce platforms and point-of-sale systems to make reliable, ready-to deploy integrations.”
Bitpay is building an fintech infrastructure for the future of payments, developing Bitcoin’s open-source ecosystem, and bringing Bitcoin to the world. Founded in 2011, BitPay was started because “we wanted to make it easy for businesses to accept bitcoin payments.” Bitpay is currently the largest bitcoin payment processor in the world, having created a “seamless, secure bitcoin payment experience” used daily by hundreds of thousands of bitcoin users. If payment processing was Bitpay’s first contribution to the Bitcoin cause, it was certainly not Bitpay’s last: Bitpay has enhanced the user experience with the BitPay secure bitcoin wallet and the BitPay Card , which gives bitcoin users a fast way to convert bitcoin into dollars and spend their funds anywhere Visa® is accepted. In addition, Bitpay has moved beyond payment processing with Bitcore , an open source platform built to power the next applications of Bitcoin.
“Bitcoin’s future looks very bright, and we plan on remaining on the forefront of this technology, creating more tools and services for everyone to use in innovative new ways.”

2. Bitstamp
“The way to trade Bitcoin. Safe. Simple. Licensed.”
Over 700,000 traders around the world use Bitstamp’s trading tools, making Bitstamp the world’s second largest Bitcoin exchange by volume (as of 2016).

Based in Luxembourg and started in 2011, the Bitstamp mission is “to be the safest and most reliable digital currency exchange on the market.” In continuing its strategy of Bitcoin UX Innovation, Bitstamp recently announced new digital currency trading pairs: “Litecoin has now emerged as the next candidate, with LTC/BTC, LTC/EUR and LTC/USD trading pairs to be launched in early June 2017.

As you would expect, the news that SegWit is likely to be activated for Litecoin was one of the key factors in our decision. We are also encouraged by Ethereum’s (ETH) potential, which will be made available shortly after, and we will continue to consider other digital currencies for inclusion on an ongoing basis.”
“We believe bitcoin is here to stay. Our goal is to provide reliable easy to use service for companies and individuals to exchange bitcoins.” — Nejc

3. Blockchain
“We are on a mission to build a more open, accessible, and fair financial future, one piece of software at a time. Our technology is revolutionizing the financial services industry by empowering millions across the globe to authenticate and transact immediately and without costly intermediaries.”

Blockchain is the world’s leading software platform for digital assets. Offering the largest production block chain platform in the world, they are using new technology to build a radically different financial system. “Our software has powered over 100M transactions and empowered users in 140 countries across the globe to transact quickly and without costly intermediaries. We also offer tools for developers and real time transaction data for users to analyze the burgeoning digital economy.”

According to their website, Blockchain serves over 14 million Bitcoin wallets, 160,ooo+ daily transactions, and has attracted VC interest to the tune of $30 million. “Blockchain is the early leader… They are actually making the entire ecosystem.” -The New York Times
“The work we do is driven by a collective desire to offer financial empowerment to everyone and anyone in the world. There’s nothing else we’d rather be doing.”

4. Blockstream
“Rethink Trust. Blockstream solves problems that undermine trust in today’s financial systems.

Posted on 7wData.be.


6 Bitcoin Startups Leading The Digital Transformation of Financial Services was originally published in The Data Intelligence Connection on Medium, where people are continuing the conversation by highlighting and responding to this story.

Bitcoin Boom: Poloniex, Bitstamp Stretched Thin Amid 600% User Surge

Bitstamp and Poloniex have reported a surge in new users as cryptocurrency prices and press coverage pique mainstream interest.


Poloniex: Users Up 600%, Transactions 640% in 4 Months

Poloniex, commonly considered the go-to resource for crypto-to-crypto trading, released data showing a 600% increase in user numbers, while first-time traders caused Bitstamp to warn about delays to support response times.

As digital currencies continue to gain in popularity, the increase in the number of new traders on exchanges like ours can exert significant pressure on the customer service team,” Bitstamp wrote in a blog post Wednesday.

[…]As you might expect, this recent spike in popularity has led to us receiving significantly higher numbers of customer support queries and verification requests.

Poloniex has been dogged by technical problems in recent weeks as more and more traders turn to the platform to trade on increasingly lucrative altcoin markets.

Slowdowns in load times, ‘stuck’ transactions and site loading problems came amid the exchange confirming it was dealing with a major DDOS attack.

Transaction numbers themselves, it continued in a press release this week, are up 640% in just four months.

More Demand Means More Customer Liability

“Poloniex does not advise on the merits of any particular trade (including the associated trading risks and strategies) or the tax consequences of any trades,” the release said, adding that customer liability for technical difficulties was a necessary part of exchange use.

Price

[…]This means users accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, such as those resulting from operational challenges or sophisticated attacks.

“As blockchains enter the mainstream, we extend a warm welcome to new entrants and want to assure long time members of the Poloniex community of our commitment to scaling up,” it concluded.

Bitstamp too was not left technically unscathed, being forced to shut down its telephone-based support service altogether.

India Exchange Zebpay Onboarding 2500 Users Daily

Bitcoin meanwhile has proven that all publicity is good publicity, as the negative press resulting from the ongoing WannaCry cyberattack only served to heighten demand from new investors.

Flagship Indian exchange Zebpay announced it was adding 2500 new users a day, Hindu Business Line reported Wednesday, while downloads of its app passed half a million this week.

This despite repeated warnings from the Reserve Bank of India and government figures cautioning against Bitcoin’s use, as well as media attention prior to WannaCry, with multiple criminal operations involving the virtual currency hitting the headlines.

What do you think about exchanges’ reactions to the increase in demand? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter

The post Bitcoin Boom: Poloniex, Bitstamp Stretched Thin Amid 600% User Surge appeared first on Bitcoinist.com.

Bitcoin Boom: Poloniex, Bitstamp Stretched Thin Amid 600% User Surge

Bitstamp and Poloniex have reported a surge in new users as cryptocurrency prices and press coverage pique mainstream interest.


Poloniex: Users Up 600%, Transactions 640% in 4 Months

Poloniex, commonly considered the go-to resource for crypto-to-crypto trading, released data showing a 600% increase in user numbers, while first-time traders caused Bitstamp to warn about delays to support response times.

As digital currencies continue to gain in popularity, the increase in the number of new traders on exchanges like ours can exert significant pressure on the customer service team,” Bitstamp wrote in a blog post Wednesday.

[…]As you might expect, this recent spike in popularity has led to us receiving significantly higher numbers of customer support queries and verification requests.

Poloniex has been dogged by technical problems in recent weeks as more and more traders turn to the platform to trade on increasingly lucrative altcoin markets.

Slowdowns in load times, ‘stuck’ transactions and site loading problems came amid the exchange confirming it was dealing with a major DDOS attack.

Transaction numbers themselves, it continued in a press release this week, are up 640% in just four months.

More Demand Means More Customer Liability

“Poloniex does not advise on the merits of any particular trade (including the associated trading risks and strategies) or the tax consequences of any trades,” the release said, adding that customer liability for technical difficulties was a necessary part of exchange use.

Price

[…]This means users accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, such as those resulting from operational challenges or sophisticated attacks.

“As blockchains enter the mainstream, we extend a warm welcome to new entrants and want to assure long time members of the Poloniex community of our commitment to scaling up,” it concluded.

Bitstamp too was not left technically unscathed, being forced to shut down its telephone-based support service altogether.

India Exchange Zebpay Onboarding 2500 Users Daily

Bitcoin meanwhile has proven that all publicity is good publicity, as the negative press resulting from the ongoing WannaCry cyberattack only served to heighten demand from new investors.

Flagship Indian exchange Zebpay announced it was adding 2500 new users a day, Hindu Business Line reported Wednesday, while downloads of its app passed half a million this week.

This despite repeated warnings from the Reserve Bank of India and government figures cautioning against Bitcoin’s use, as well as media attention prior to WannaCry, with multiple criminal operations involving the virtual currency hitting the headlines.

What do you think about exchanges’ reactions to the increase in demand? Let us know in the comments below!


Images courtesy of Shutterstock, Twitter

The post Bitcoin Boom: Poloniex, Bitstamp Stretched Thin Amid 600% User Surge appeared first on Bitcoinist.com.

Weekly Cryptocurrency Market Outlook May 8

BTCManager's Weekly Cryptocurrency Outlook highlights the price action and technical indicators on a long-term basis to identify the best opportunities in the largest cryptocurrencies, such as bitcoin, ether, and others.

BTC-USD (Bitstamp)

The weekly price action for BTC-USD is shown below, where the market reached a fresh high at $1623.01 on the Bitstamp exchange. Buyers controlled the week’s price action, as the candlestick closed near the high at $1554.01 but below the $1600 handle. However, bitcoin has moved quickly toward the Fibonacci target at $1719.97 and provides resistance. A break of this target opens up the Fibonacci extension level at $2318.63.

ETH-USD (Kraken)

ETH-USD’s weekly price action is displayed below, and a flash crash occurred on Kraken, taking ether as low as $30, as traders tried to take profits and the exchange experienced difficulties. However, the market has regained the $84.61 Fibonacci level and should provide support going forward. Resistance lies at $132.58, the 261.8 percent extension level.

LTC-USDT (Poloniex)

Litecoin reached the first Fibonacci extension level at $25.88 last week and closed higher around $30.84. The market now should tend toward the second Fibonacci extension level at $39.68 with SegWit activation occuring on May 10.

XEM-BTC (Poloniex)

The cryptocurrency behind the NEM blockchain, XEM, soared to fresh highs last week, with bulls pushing the price even higher on May 8. This has pushed XEM into the top five cryptocurrencies by market capitalization, displacing dash and just one place behind litecoin.

The weekly price action for XEM-BTC is shown below, with the market breaking the Fibonacci level at 0.00004352 last week and closing around 0.00006270. So far this week, XEM-BTC has reached the Fibonacci extension level at 0.00009380 but has since retreated low. Immediate support lies at 0.00006866.

It looks as if the market is gunning for the Fibonacci extension level at 0.00010933. The steep upward gradient of the conversion line (blue) and base line (red) suggest that bullish momentum is extremely strong.

DASH-USDT (Poloniex)

DASH-USD completed a bullish saucer pattern in the Awesome Oscillator last week, which opens up a potentially profitable long position if DASH moves above $116.29. It is suggested to place limit buy orders around $116.30 to take advantage of the bullish breakout. Using Fibonacci analysis, it is likely that such as breakout would see a long-term move towards the 161.8 extension level at $185.54.

On the other hand, we can set limit sell orders just below the support provided by the Fibonacci retracement level at $91.94. A break below this level will open up the supports provided by the conversion line (blue), at $81.35, and the base line (red), at $63.005. 

The Ichimoku indicator suggests further upside is more likely, as the conversion line (blue) moves higher relative to last week. Also, the Awesome Oscillator remains green and trends higher this week, suggesting momentum is more skewed in favor of bulls.

ETC-BTC (Poloniex)

Last week saw ether classic reach a fresh high against bitcoin at 0.005488, but sellers managed to push the ETC-BTC to 0.004391 by May 7, resulting in a bearish inverted hammer candlestick pattern for the previous week. Also, notice that the peak of last week’s price action is just below the 50 percent resistance level provided by the variant of the bearish Marubozu candlestick on the launch of ether classic on Poloniex.

Therefore, downward momentum is suggested to dominate and we anticipate ETC-BTC to test support provided by the conversion line (blue) 0.0033. As a result, we can set limit buy orders around this level to take advantage of the pullback. However, a weekly close below 0.0033 will point to a bearish outlook for ETC-BTC over the long run.

Further support lies at 0.0024, the peak of the lagging line (purple), which also could provide a good buying opportunity.

XLM-XBT (Kraken)

Stellar’s cryptocurrency Lumen (XLM) soared to fresh highs last week, experiencing immense buying interest and was the top volume altcoin pair against bitcoin on Poloniex for some time over the weekend.

The chart below shows the weekly price action for XLM-XBT on the Kraken exchange. After posting a fresh high at 0.00004420, the market has retraced to the 50 percent Fibonacci level and found support. The market currently stand just below resistance at 0.00002781. A break above this level should see the uptrend continue. A break above 0.00004420 will open up the Fibonacci extension level at 0.00007072.

Also, for the first time on the weekly timeframe, last week saw the lagging line (purple) move above the previous price action, giving a long-term bullish signal. The conversion line and base line both provide support around 0.00002274, where the weekly close needs to be above this level to maintain the bullish outlook.

XMR-USD (Kraken)

Monero broke to fresh highs on the Kraken exchange, achieving the Fibonacci extension level at $34.88. However, buyers were only able to bring the close to $31.73 for last week. Nevertheless, it is the highest weekly close ever for XMR-USD. ALso, as the chart below shows, the conversion line (blue) continues to move higher, providing support around $27.05, suggesting that the uptrend is not over yet. A break above $34.88 should open up the further Fibonacci level at $49.26.

Kraken saw the highest volume in a week since mid-March last week, supporting the move higher and foretelling of further gains for the altcoin.

A weekly close above the resistance provided by the lagging line (purple) at $31.7312 will give further bullish confirmation and open up targets at $34.88 and $49.26.

PPC-BTC (Poloniex)

Peercoin displayed strong gains for the week beginning May 1, establishing a fresh high at 0.00167620 after showing a bullish Ichimoku breakout on May 1. The fractal resistance at 0.0014 was also broken with last week’s price action, suggesting that bullish momentum will intensify. The next targets lie at the next fractal sell level at 0.00177 and the flat span of the Ichimoku cloud around 0.00237.

Namecoin is following Peercoin and the technicals are very much similar, with both altcoins rising in tandem and trading at a similar price.

DOGE-BTC (Poloniex)

Dogecoin has reached our target at the upper flat span of the Ichimoku cloud and managed to establish a bullish Ichimoku cloud breakout last week. This confirms that an uptrend is in place, as earlier confirmed by the change in color of the Ichimoku cloud from red to green.

The bullish breakout opens up fractal resistance at 0.00000137, the high from 2016. Also, we see from the chart below that the lagging line (purple) has moved above the Ichimoku cloud along with the price action, giving strong confirmation of an upward trend over the long term Finally, the previous week’s price action also broke the most recent fractal resistance at 0.00000061, suggesting bullish momentum will remain in control.

Bitcoin Climbs Past $1000

Breaking Price News
Major bitcoin exchanges are currently trading bitcoin at prices above $1000:

btc-price

The price move pushes BTC market capitalization above sixteen billion dollars. CoinMarketCap.com reports a live cap at $16,308,780,769.

Recent elimination or reduction of leveraged trading by major exchanges had led some to believe that lessened BTC volatility would result. Today’s price rally demonstrates there is still lots of life left in BTC volatility.

On Poloniex over 38 altcoins registered in the green for a positive daily change:

altcoins-change

The increase in altcoins with a 2.43% rise in bitcoin suggests the relationship between altcoins purchased with bitcoin is somewhat weaker than one might expect.

The Chinese New Year and continuing surge in Chinese domestic sales in bitcoin are expected to result in further gains in the short term.

Bitstamp: Ripple’s XRP a ‘Good Fit’ for EU License Requirements

In the world of altcoins, Litecoin, Ethereum, and even Monero have all had some moments in the sun. However, the one that may end up being the most successful of them all is Ripple (XRP), and they have joined Bitstamp’s digital currency exchange this week.


XRP Trading Comes at Bitstamp

Beginning on Wednesday, Bitstamp users can create Ripple’s XRP deposits and withdrawals, with full-service trading to begin on Tuesday, January 17th. When full trading commences, there will be 0% in fees for the first 30 days.

9b

Bitstamp specifically cited a natural demand for Ripple that forced them to include Ripple’s XRP in their plans for 2017.

“After evaluating a number of digital currencies for inclusion on our exchange, it soon became clear that customer demand for XRP was particularly strong,” notes Nejc Kodrič, CEO at Bitstamp on their corporate blog.

Fortunately, Ripple and XRP also happen to be a good fit for the requirements of our EU license and so we are delighted to be able to respond to our customers’ needs in this way.

Ripple has become a new digital banking solution that naturally lowers the total cost of settlement by enabling banks to transact directly and with real-time certainty, with the ability to assist while using its Ripple assets, or not. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join its global network of financial institutions.

9c

“The relationship with Bitstamp and launch of XRP volume incentives underscores our commitment to making XRP the institutional standard bearer for value transfer globally,” notes Miguel Vias, Head of XRP Markets at Ripple. “XRP is uniquely capable of introducing more liquidity to exchanges to support global payment volume, especially in exotic corridors. Ripple’s adoption with banks puts XRP in pole position to become a global settlement asset, which translates to more liquidity for Bitstamp, and more value for institutional and individual investors.”

Ripple Making Waves in the Banking Industry

Ripple announced last September that they had reached an agreement with several major banking interests to created the GPSG, or the Global Payments Steering Group.  The concept is similar to the global banking network known as SWIFT, but designed for the digital age.

The banking interests involved in the founding of this new venture are a virtual who’s-who of major banking corporations, including Bank of America/Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac Banking Corporation, and Royal Bank of Canada.

How do you feel about Ripple? Can legacy banks take advantage of its technology to catch up to Bitcoin? Share your thoughts below!


Images courtesy of Shutterstock, Bitstamp, Ripple

The post Bitstamp: Ripple’s XRP a ‘Good Fit’ for EU License Requirements appeared first on Bitcoinist.com.

Bitstamp Announces the Inclusion of Ripple Alongside Its Bitcoin Offering

Bitstamp, one of the leading cryptocurrency exchange platform has started supporting Ripple. By including Ripple, the platform now supports two different cryptocurrencies. The growing popularity of Bitcoin led to the creation of hundreds of altcoins. Among those, only a handful of them are quite popular and have a decent user base. Ripple is one of … Continue reading Bitstamp Announces the Inclusion of Ripple Alongside Its Bitcoin Offering

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Bitcoin Price Maintains Strong Momentum, Hits $750 Mark

fxpips.com / DAVID RED / NOVEMBER 18, 2016

Fxpips.com – BITCOIN has consistently maintained a solid pattern of gains in the past few sessions courtesy of growing demand from digital currency players in the Asian market.

The Bitstamp Price Index (BPI) registered a peak of $749.98, rising from a high of $740 on Thursday [...]

The post Bitcoin Price Maintains Strong Momentum, Hits $750 Mark appeared first on The Bitcoin Channel.

First Global’s CEO Gavin Smith Calls for Better Bitcoin Security for Traders

The cyber security threats against cryptocurrency exchanges are currently at an all-time high. As platforms continue to come under attack, the CEO of First Global Credit, Gavin Smith, has advised traders and exchange platforms to minimize risk by following better standards. Smith asked the companies to reconsider their existing business strategies to ensure that their … Continue reading First Global’s CEO Gavin Smith Calls for Better Bitcoin Security for Traders

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CME Group Launches Bitcoin Reference Rate and Bitcoin Real Time Index

coinspeaker.com / TATSIANA YABLONSKAYA / NOVEMBER 15TH, 2016 5:58AM EDT

The initiative is expected to professionalize and legitimize bitcoin as a financial asset.

The CME Group is putting forward an initiative to publish Bitcoin prices as both a real time spot price index and a reference rate by traders, investors, and the public. This is [...]

The post CME Group Launches Bitcoin Reference Rate and Bitcoin Real Time Index appeared first on The Bitcoin Channel.