Facebook Unveils Libra Cryptocurrency, Ripple To Invest In Moneygram And Binance To Introduce Derivative Coins-The Crypto2Cash Chronicle
Today’s crypto and blockchain news, featuring some very big announcements!
Facebook Unveils Libra Cryptocurrency
Facebook has announced their new Libra Blockchain and the token of the same name. Dante Disparte, head of the Libra Association which will run the project said the following: “Implied in this project is that wherever the Visa or Mastercard logo are accepted, Libra would follow suit.” The projects has many goals, with the main focus laying on bringing banking like services and cheap remittances to “the unbanked”, meaning around half of the worlds adults, which still do not have a bank account. Facebook has also created the Calibra site, planning to launch many different financial services also including the likes of WhatsApp. WhatsApp alone had around 1.5 billion users last month and if this project receives the hype and adoption Facebook is aiming for, it could be a huge step for cryptocurrencies.
Ripple To Invest In Moneygram
Ripple has announced a new strategic partnership with money transmission network Moneygram. The two firms have set up a two year agreement, which will see them become partners in cross-border payments. As part of the agreement, Moneygram will also be able to draw up to $50 million from Ripple in exchange for equity. Moneygram will purportedly be using Ripple’s XRapid product, which is especially useful for remittances and cross border payments.
Binance To Introduce Derivative Coins
Binance is planning to launch tokens pegged to popular cryptocurrencies like Bitcoin and Ethereum. The Malta based exchange is doing this to bring these currencies to their Decentralized Exchange and therefore their own Blockckchain. By doing this Binance is trying to bring more diversity in assets to their site while also expanding their liquidity, with daily volumes currently only reaching around $11 million. Binance is not the first to produce derivatives of Bitcoin, projects like waves and Next have been using these types of assets quite succesfully for a longer time now.
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