Daily Cryptocurrency News – 18th October 2018

Welcome to the Daily Cryptocurrency News presented by the Zerocrypted team.

Ethereum – #5 on the fastest growing open source projects of Github

According to Octoverse, Ethereum is now the 5th fastest growing project on Github. Even though Ethereum’s price dropped significantly since December 2017 – a lot of developers & enthusiasts are contributing to the project. Even for its scalability issues, there have been a series of solutions proposed by the community such as : Sharding, Plasma, State channels, Raiden and others. Developers worldwide are working to improve the Ethereum network – and their efforts didn’t went unnoticed.

Moreover, this is also a sign that a lot of people understood the impact that smart contracts can have over the day-to-day life and recognized the benefits of Ethereum network. Even though there are plenty of competitors for Ethereum – they still keep the #2 spot on the cryptocurrency ranking website Coinmarketcap with a market cap of $21 Billions and a price of $205.42.

For developers that missed the San Francisco Hackaton, you can read the following article to get the updates that you’re looking for: Just #Buidl: ETH San Francisco Hackathon. If you want to get involved and help Ethereum, you can check the Ethereum Github.

The Crypto Fund of Billionaire Mike Novogratz is Fidelity’s First Custodian Client

In a recent report by CCN, Mike Novogratz – the owner of Galaxy Digital – will be Fidelity’s first custodian client. Galaxy Digital is a  crypto merchant bank that its listed on Toronto-based stock exchange  TSX-V. A few days ago, Galaxy DIgital announced their listing on Frankfurt Stock Exchange under the symbol 7LX as a response to their European investors:

“Our listing on the Frankfurt Stock Exchange is in direct response to the interest generated from European investors in our Company, and their growing demand for exposure to digital assets and broader blockchain technology.  We remain focused on scaling our core businesses and identifying unique and strategic opportunities to further expand our global footprint.”

Fidelity is the world’s #4 largest asset manager with $7.2 trillion in assets under their administration. In October 2018, they launched Fidelity Digital Assets, a subsidiary created to provide crypto custodian solutions to institutional investors and accredited ones. Trough the platform, over 27 million customers and 23,000 businesses of Fidelity will have the infrastructure to invest safety in the cryptocurrency market.

This partnership between Fidelity and Galaxy Digital is expected to lead a lot of new clients into the cryptocurrency world. With the massive rise in the institutionalization infrastructure of the cryptocurrency market, a lot of new investors may gain interest into the cryptocurrency space.

IOHK involved in Uganda, Africa

A few days before, Binance announced that they would be offering fiat-to-crypto trading pairs through its new Uganda exchange. Weiss Ratings tweeted about this, which led to Charles Hoskinson’s tweet.

There aren’t any more details yet, but it seems that the IOHK team have certain development plans which include Africa. It’s still unknown what Charles announcement will be, but you may watch his AMA from yesterday: Surprise AMA from Charles – maybe you’ll find out more.  A few rumors are that IOHK’s annoucement will be related to the landownership problem in Africa – something that Cardano announced they will try to solve in the future in some past, according to AMBcrypto.

Viamericas now using Ripple’s xRapid, Ripple can now be used as Loan Collateral

Viamericas became the forth financial institution that is now using Ripple’s xRapid. The company is an internationally licensed money transfer company – dealing with check processing and bill payment. xRapid, Ripple’s latest solution has now reached 4 financial institutions that are using it : Cuallix, MercuryFX, Viamericas and IDT. This new technology was presented by Ripple at the Swell 2018 conference. Until now, xRapid customers saved up to 70% of the typical cost of a transaction. And the transaction time takes between three to five seconds,

Liquid.com announced that this week they will enable $XRP for margin trading and lending. There will be 4 trading pairs available to margin traders : XRP/JPY, XRP/USD, XRP/EUR and XRP/SGD. The maximum leverage offered by Liquid is 25x and you can also earn interest by lending cryptocurrency from a minimum of 0.001% per day to 0.1% per day.

Nexo also became the first crypto lender to use XRP as loan collateral. Nexo offers instant crypto-backed loans. The company can serve up to $2 million XRP-backed loans. You can also store XRP tokens in the Nexo wallet and benefit from a loan rate of 8% per year.  For more details about this, you can check up Nexo’s website.

And this is not all for XRP, Bill and Melinda Gates foundation now works with Ripple and Coil to send donations to less fortunate countries with poor infrastructure. The partnership would results in the creation of Mojaloop – an interoperable payments platform build on the InterLedger Protocol (ILP).

The partnership was announced yesterday, 17th October 2018, by Miller Abel through Twitter :

If you’ve missed yesterday’s news you can read them here: Daily Cryptocurrency News – 17th October 2018

Image Source: timesofisrael.com

 

 

 

Leave a Reply

Your email address will not be published.