#Ripple Ripple Brings Western Union like SendFriend for overseas money transactions Published 2 weeks ago on November 5, 2018 By Viraj S Share Tweet In perhaps a first of its kind, the blockchain run by Ripple will allow users to send and receive money overseas on SendFriend Project, similar to Western Union’s overseas transmissions. The product was the collaborative effort of techpreneur David Leighton and MIT Media Lab when the innovator won the institutions Translation Innovation Alliance Award. The integration is of XRP Coin platform run by Ripple called XRapid, with that of a payment portal which has the blessing of payment card major MasterCard and was incubated by MIT. SendFriend will create a new genre of blockchain-driven financial services under a category called ‘Consumer Payments Platform.’ xRapid and SendFriend Ripple (XRP) uses xRapid to power all types of payment transactions in the cross-border category. The new system handles transfers in a matter of a few minutes. As industries across the world experiment with cross-border payments using digital assets experimental products offered by the established decentralized project such as Ripple’s xRapid new defining transactional processes are being set up. The functionality on xRapid is advanced as it essentially converts all transactions into liquid state transactions, using XRP. It also eliminates the need for Vostro and Nostro accounts. xRapid has been tested in its beta-stage by big commercial organizations like Western Union, MoneyGram, Banco Santander, and Cambridge Global Payments, earlier in September. Answering criticism of the loss of value in transactions due to high volatility which Ripple represents Cory Jonhson clarifies that the xRapid platform does not expose the user to the volatility for more than a few seconds and hence there is no actual loss incurred by using XRP platform. SendFriend Features Currently, SendFriend is in beta-stage and will available for full-fledged consumer usage by the end of the year. The first stage of the product going live will be in the Philippines where people can experiment with sending as well as receiving money from different parts of the world. According to Leighton who pitched the idea to MIT Lab mentors at the competition and eventually went on to become the CEO of the firm says that in the current payment sector the focus has to be on the backend, which demands more efficiency than the actual capital itself. The key factor, Leighton says is handling these real-time settlements and do not involve or raise a need for pre-funding. At the same time, the product also eliminates the risk associated with foreign exchange and does not have to go through with a ‘parking’ it in receiving corridor. Every transaction is handled one by one until all of the transactions are completed. Big financial players are backing SendFriend – from Barclays to Mahindra Finance to TechStars and MasterCard Foundation as well. The payment method which Ripple will offer will enable immigrants to remit their payment to family and friends back home in real-time, in the initial stages of testing the product that xRapid offers. Related Topics:banco santanderBlockchainCambridge Global PaymentsMoneyGramNostroRipple advancementsRipple BlockchainRipple cross border paymentsripple newsripple priceRipple Projectsripple riseRipple SendFriendRipple Updatesripple xrapidripple xrpSendFriendSendFriend FeaturesSendFriend ProjectSendfriend RippleVostroWestern UnionXrapidxRapid BlockchainXRapid launchxRapid rippleXRapid SendfriendxrpXRP PriceXRP riseXRP SendFriend Up Next Ethereum Price Analysis: Can ETH rise again? Don't Miss Betting on Augur: 61 percent say Trump out of White House, Democrats In Continue Reading You may like Bitcoin is Halal? Will crypto rise with mass Muslim adoption? XRP price analysis and market updates Ethereum Price Analysis: Can ETH cross 200? Why Bitcoin Cash SV is the real winner of the Hash War Spanked by the SEC: Paragon and Airfox ICO Bitcoin Price Analysis: Will BTC Rise Again? 3 Comments 3 Comments Pingback: Ripple Brings Western Union like SendFriend for overseas transactions | Coin Crypto Rama Pingback: Ripple Brings Western Union like SendFriend for overseas money transactions - Satoshiuncle Pingback: Ripple Brings Western Union like SendFriend for overseas money transactions – The Coinage Times Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Ripple Ripple Latest Updates and XRP Market Analysis Published 2 days ago on November 16, 2018 By Layla Harding Ripple has partnered with yet another large bank CIMB Group which is the 5th largest bank in Asia. CIMB Group announced that it will implement RippleNet Software to process cross-border payments. Ripple’s XRP has also crossed ETH and secured the 2nd position according to the market capitalization. CIMB Bank to use RippleNet According to sources, CIMB Bank is the 1st bank in Asia in order to implement blockchain technology in such a place where the payments are small in value but the amount of transactions is very high. SpeedSend, which is CIMB Bank’s platform with use RippleNet to improve the transactional speed and costing for international payments. XRP Crosses ETH XRP which is Ripple’s native token has crossed ETH is terms of market capitalization. The Ripple Company says that their token XRP and Ripple are not interlinked but it is always seen that as Ripple extends its partnerships with banks over the world, the price and market capitalization of XRP tends to rise. Continue Reading #Ripple Ripple Updates: New office, XRP tip bot, Nasdaq, Trezor and more. Published 7 days ago on November 12, 2018 By Janet F. Sanchez Ripple has been quite steady in collaboration and advancements throughout the globe. Here are some of the recent advancements with respect to Ripple and XRP: XRP Tip Bot in Amazon Alexa The XRP Tip Bot is ready to be a part of the Amazon’s Alexa. This will allow Alexa Users to easily transact their XRP by using voice command on the Alexa Device. The Alexa application developer posted on Twitter on November 6 about Alexa’s implementation of XRP Hey @haydentiff, hilarious video yesterday!:D I have something new for you. I hope you guys own an Alexa at home 🙂 This will go into beta soon, so some people can try it out. But still needs some improvements first 😉 Thanks also to @WietseWind for the support with the API 🙂 pic.twitter.com/5LA6AFTckI — nixer (@nixerFFM) November 6, 2018 XRP likely to be listed on Nasdaq in 2019 A source from the National Association of Securities Dealers Automated Quotation Exchange (NASDAQ) said that the exchange’s crypto initiative in 2019 is surely interested in scalability and they cannot put apart XRP which is a top-level security cryptocurrency by market cap. The Nasdaq team also said that they believe that XRP is surely going to be the 2nd largest crypto in the future after bitcoin but there hasn’t been any official announcement for the same. Trezor Model T Trezor will likely list a list of more altcoins in the upcoming model T update of the Trezor Device which will include XRP as well. Cred to provide XRP backed loans Cred, which is a leading provider of cryptocurrency backed lending. This will help the XRP owners to get loans using their XRP as a collateral security without actually having to sell their tokens. Ripple Opening office in Dubai Ripple Labs has planned to open their new office in Dubai in order to get themselves a strong position in the middle east markets. Banks adopting Ripple’s Technology Japan’s MUFG Bank and Brazilian Bank Banko Bradesco have signed an MOU to start using Ripple Software to send cross-border payments between Japan and Brazil. The Banks will use just Ripple’s software XCurrent and not the XRapid which uses the XRP coin. Ripple also tweeted about the collaboration: .@Bradesco and @btmu_official are leveraging Ripple’s #blockchain technology to create a new cross-border payment service between Japan and Brazil. https://t.co/Q9c4TSkRr0 — Ripple (@Ripple) November 9, 2018 The level of collaboration that Ripple has globally has been rising day by day. However, the XRP investors are still waiting for the real adoption of XRapid which will use the XRP tokens for the transfers rather than just the XCurrent Software of Ripple Labs. Continue Reading #Ripple XRP Security Class Action Lawsuit going Federal Published 7 days ago on November 11, 2018 By Nadja Eriksson The lawsuit that alleged XRP to be a security has been removed by the Ripple Labs, the company behind that XRP Cryptocurrency. The company’s lawyer stated that Ripple never registered XRP as a security and that the allegations of XRP being a security shall be removed. Peter Morrison who is representing Ripple Labs in the lawsuit stated that the lawsuit comes under the edge of the international cases being a solid class action. The lawyer stated 3 points in support of the company to remove the lawsuit, wherein he mentioned: A putative class action may be removed to the appropriate federal district court if 1. the action purports to be a ‘class’ action brought on behalf of 100 or more members 2. Any member of a class of plaintiffs is a citizen of a state different from any defendant and 3. The amount in controversy exceeds $5 million. The Lawsuit The XRP lawsuit claims that Ripple’s XRP should have been registered as a security and that Ripple Labs and its CEO have been manipulating the price of XRP for their own benefit. The Ripple Lab lawyers moved the case from a state court to a federal court. This may be because it is believed that the judges at Federal Courts are more sympathetic towards corporate defendants. What if XRP is deemed to be a security by the court? If the court’s decision proves XRP to be a security it may prove to be very harmful to the whole cryptocurrency community as it may have a negative effect one of the top 3 cryptocurrencies in the market. Continue Reading Advertisement Advertisement Latest Crypto News #Bitcoin5 hours ago Bitcoin is Halal? Will crypto rise with mass Muslim adoption? #Ripple Price Analysis7 hours ago XRP price analysis and market updates #Bitcoin16 hours ago Bitcoin ETF: Worlds first Cryptocurrency ETF approved #Ethereum Price Analysis17 hours ago Ethereum Price Analysis: Can ETH cross 200? Bitcoin Cash1 day ago Why Bitcoin Cash SV is the real winner of the Hash War #Bitcoin1 day ago Bitcoin Cash BCH Hash Wars: Who is winning? Bitcoin2 days ago Cryptocurrency Mining getting too expensive #SEC2 days ago Spanked by the SEC: Paragon and Airfox ICO #Bitcoin Price Analysis2 days ago Bitcoin Price Analysis: Will BTC Rise Again? #Ripple2 days ago Ripple Latest Updates and XRP Market Analysis #Bitcoin Cash Price Analysis3 days ago Bitcoin Cash Price Analysis: BCH post fork downfall Bitcoin Cash3 days ago 3 possibilites that can happen during the bitcoin cash hardfork #Daily Price Analysis4 days ago Cryptocurrency Market losers of the day: BCH, XLM, IOTA, ETC and ADA #Ripple Price Analysis4 days ago Ripple Price Analysis: Will XRP fall ahead? #Bitcoin Cash Price Analysis5 days ago The Battle: Bitcoin Cash ABC Vs Bitcoin Cash SV Live Crypto Prices BTCUSDAUDCADEURBitcoin(BTC) 5618.64057528Ethereum(ETH) 176.719845493Bitcoin Cash(BCH) 385.565147491EOS(EOS) 4.582590061Litecoin(LTC) 42.2816432465Cardano(ADA) 0.0618485057TRON(TRX) 0.0188366883Dash(DASH) 132.584153504NEM(XEM) 0.0932694026 Trending #Blockchain3 months ago What is DigixDAO coin? Trade DigixDAO on Blockonix Exchange. #Blockchain4 months ago What is Aeternity Token and its future? Fully Explained. Adoption2 months ago SWIFT will use XRapid to process payments using XRP. Here is the proof #Blockchain3 months ago What is Mithril coin? Trade MITH on Blockonix exchange. #Blockchain4 months ago Ethereum vs EOS: Which one is the Vanquisher? #Blockchain4 months ago What is Maker Token? Fully Explained. Is MKR overpriced? #Bitcoin3 months ago How to buy Bitcoins in Sri lanka? Explained. #Blockchain4 months ago What is Ontology Token? Is it worth investing in 2018?