Ripple will power blockchain payments for a global remittance company in the United Arab Emirates that moves $30 billion each year.
According to Reuters, UAE Exchange will use Ripple’s technology to launch cross-border payments to Asia by the first quarter of 2019. So far, there’s no word on whether the firm will utilize Ripple’s xCurrent or xRapid, which utilizes the digital asset XRP.
UAE Exchange is one of the oldest and largest money transfer houses in the Middle East. It’s one of a growing number of financial institutions in the region to join Ripple, including National Bank of Ras Al Khaimah and Kuwait Finance House.
Meanwhile, expectations for a potential Bitcoin bounce on the horizon are lowering.
As reported by MarketWatch, analyst Jani Ziedins of CrackedMarket says the longer Bitcoin holds at its current price, the less likely a short-term surge is coming.
“Bitcoin continues to muddle along in the mid-$3k range. The longer we maintain these levels, the less likely it becomes that prices are oversold and poised for a pop.
The public has largely written cryptocurrencies off as a fad and no new money is coming in. The lack of demand will continue to be a big liability.”
Finally, Tron (TRX) is steadily boosting its presence on cryptocurrency exchanges around the world.
The latest numbers from CoinMarketCap show Tron has surpassed Stellar (XLM), and is now listed on 159 crypto exchanges. Stellar is currently available on 157 exchanges overall.
Stellar is the fourth largest cryptocurrency with a market cap of $2.08 billion, while Tron is holding the number ten spot at $867 million.
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