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XLM Coin Shows Moderate Recovery Over the Week-long Run

Timmy Murphy
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XLM Coin Shows Moderate Recovery Over the Week-long Run

Stellar Lumens had managed a good performance against the bears in the ongoing volatility in the crypto market during 2019. Though it started on a low note in 2020, it had managed to gain steam and pick up the price momentum in the ensuing days that followed. However, the bears have once again started showing their stronger position as visible from the seven-day price chart where the price of XLM coin has been mostly below the baseline in the range between $0.055 – $0.063.

Stellar Price Analysis

XLM price has nothing much to cheer over the past seven days, as evident from the bearish price trend. The coin started on a high note at $0.06329 on January 22. In the next two days, the price of Stellar cryptocurrency fell below the baseline to $0.05551 showing a downward movement of 12.18%. On the same day, the XLM price made a recovery to the extent of 4.06%. Then, the price again fell and touched $0.05583. After this 3.27% fall, Stellar price again recovered on $0.05862 on January 27, rise being at a rate of 4.99%. The current day’s price of XLM is at $0.05770, showing a downturn of 1.53% indicating that the bears are still very much in control of the price of the currency.

Stellar News

Analysts expect the current trend to be of a short-term nature and look forward to XLM getting back to its stellar performance during the year when the crypto market is expected to show more stability. Current investors need not despair and should believe in the capability of the coin to give greater returns in the long-term. Day traders and short-term investors can continue to trade amidst the current volatility in the crypto market.

Harex InfoTech to Share UBpay to EASTAR Air

Robert Hill
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Harex InfoTech to Share UBpay to EASTAR Air

Harex InfoTech Inc. and UBpay have recently joined hands for sharing their UBpay platform with EASTAR Air, South Korea’s affordable air carrier. UBpay will facilitate its service to EASTAR Air’s app.

With the help of UBpay, EASTAR Air’s app will now be offering various payment services for air ticket booking, dining, travel, taxi, rental cars, etc. EASTAR air aims at expanding its customers’ base nationally as well as internationally. Harex Infotech is also looking at getting benefitted from a vast customer base of EASTAR air.

UBpay is a payment service based on a mobile app that undertakes authorization of transactions directly from banks and the financial institutions, hence, removing the scope of any middle man. It also gives the utmost safety and security of online transactions at an affordable cost. It also offers its users, loyalty points, discounts, and gift certificates. One of its major USPs is low turnaround timing.

Jang, Yunmi, the manager of EASTAR Air, says,

It means a lot for us to be able to offer such convenient and extensive services to our clients through our app under the EASTAR brand.

She also added that EATAR Air is likely to launch many more user-friendly services with Harex InfoTech. EASTAR Air users now can access 320,000 UBpay associated stores in South Korea and many more online as well as physical services.

EASTAR Air can also give its users the option to make mobile payment services with its brand. UBpay has 320,000 affiliated stores across South Korea with an association with Government-run Zero pay. Harex Inotech is aiming to step into many countries like Indonesia, Vietnam, Guatemala, the Philippines, and 6 Central American countries, China, Africa, the U.S., and India, with its app-based services.

Voltron Follows New Trend For Commercialization; Rebrands as Contour

Ray Buckler
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Voltron Follows New Trend For Commercialization; Rebrands as Contour

Voltron, the renowned blockchain trade-finance project, seeks new dimensions for commercialization by rebranding itself as Contour. The independent global network was propounded by eight member banks of Voltron along with R3 (a renowned Fintech Consortium) in Singapore. It also got support from reputed firms like Bain & Company and CryptoBLK.

However, Voltron will first go through the basics before changing its status into an independent network. The onus of the project is to digitalize the letter of credit process, which Voltron was doing quite well, but to commercialize the whole phenomenon, it needs an online platform and rebranding as Contour is a move towards that.

The Contour network is expected to help Voltron’s main aim to reduce the processing time of the letter of credit by 90%, which will, in turn, attract more participants towards Voltron. Getting the financial support of the shareholders, Contour seeks to implement more technical talent through mass hiring to create the much-needed infrastructure to scale up the project.

In this regard, Joshua Kroeker, the blockchain lead for global commercial banking at HSBC (which is also a member bank of Voltron) said,

We’ve been working with letters of credit for a long time and have been trying to digitalize them for at least 20 years or so, so this isn’t something we want to do quickly in a huge race.

He added,

It’s something that we want to do right. We want to make sure that when we go live, we have a very substantial solution.

Digital Currencies to Witness Large Scale Adoption in Coming Years Claims Deutsche Bank

Marisol Contreras
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Digital Currencies to Witness Large Scale Adoption in Coming Years Claims Deutsche Bank

Deutsche Bank has made a startling claim regarding the large scale adoption of digital currencies and believes the coming years will remain crucial for them in terms of their growing popularity and acceptability.

Recently, a fresh report by the leading bank has been published about the surging popularity of digital currencies amid facts that they barely came into existence 10 years ago. And, in such a small period, the currencies have already displayed vast potential to fundamentally alter the payments, central banking, banking and balance of economic power.

According to the report,

We believe a new digital currency could become mainstream within the next two years.

Meanwhile, China’s key digital yuan initiative and Facebook’s Libra project are likely to be launched in 2020.

Deutsche Bank AG is a leading German multinational investment bank and financial services company. The bank is headquartered in Frankfurt, Germany. In terms of total assets, Deutsche Bank has already become the world’s 17th largest bank. It has already spread its operations in 58 countries all over the globe.

If the current adoption rate is to be considered, cryptocurrencies are already running parallel to the internet during its initial years, added the report. And, if the trend continues to persist in the years to come, there should be over 200 million blockchain wallets by the year 2030 from 50 million in 2020.

The latest report is the third in Deutsche Bank’s series that has been assessing the upcoming landscape for payments. The bank’s first report highlighted several existing cryptocurrencies, like bitcoin, that are grappling with volatility issues and cannot be used in its current form as a feasible mode of payment or even as a store of value. Meanwhile, the second report showcased the integral advantages of cash and how it will be used as a mode of payment method for yet another decade.

In the latest report by the bank, several such sentiments have been highlighted. But, at the same time, researchers also emphasized the fact that digital currencies may combine the convenience of electronic payment along with the privacy of cash payments.

Will EOS Price Manage to Break Away from the Bear Momentum?

Felicia Learned
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Will EOS Price Manage to Break Away from the Bear Momentum?

EOS coin has been going through a lot of fluctuations in the ongoing bearish sentiment in the market. The currency was at a high then went below the baseline and now has slowly again moved in the upward direction over the past few days. The 3-month price chart indicates the price movements for the coin in the range between $2.42 – $3.91.

EOS Price Analysis

EOS coin was continually trading with huge volatility from the 3-month price trend. The price was trading at $3.6839 on November 05, 2019. It fell further to $2.4572 on November 25, 2019, showing a huge downward movement of 32.78%. Then on December 08, 2019, the price went up to $2.7633 by 12.19% hike.

With the bear pressure looming large over the currency, the price of EOS again fell to $2.4255 on January 02, 2020. The price of EOS is trying to get back to its stable upward momentum, as witnessed by the massive price upsurge to the extent of 61.23% on January 17, 2020, when it rallied to $3.91065.

EOS News

Today, at the time of writing, the coin was trading at $4.0625. It needs to be now seen whether the price of EOS will be able to maintain this upward momentum or reverse the trend in the upcoming days.

The EOS price has been trying to get out of the bear momentum. The past few days have brought some respite from the bear pressure. Analysts are expecting the currency to stabilize during the year and EOS price to follow suit and regain its stable upward momentum in the near-term. Investors can continue to hold on to their investments as EOS price is expected to stabilize during the year.

Kickstart the Decade With Asia’s Biggest Disruptors at Money20/20 in Singapore

Marisol Contreras
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Kickstart the Decade With Asia’s Biggest Disruptors at Money20/20 in Singapore

Money20/20. No, not the year 2020, but perfect 20/20 vision. As in, see into the future of money type vision. Money20/20 brings that future into crystal clear focus, so those in the industry can plan, create, collaborate, and take their businesses forward.

With that goal in mind, the region’s biggest change-makers are joining the line-up in Singapore, with keynotes, including Douglas Feagin, President of International Business, Ant Financial Services Group; Armand Hartono, Director, PT Bank Central Asia, Tbk; Jason Thompson, CEO, OVO; Jason Gardner, Founder & CEO, Marqueta; Muhamad Fajrin Rasyid, Co-Founder & President, Bukalapak; Anubrata Biswas, MD & CEO, Airtel Payments Bank.

Grab, Stripe, Tencent, WeBank, and BigPay are also amongst the many visionaries at Money20/20 set to spark new strategies and drive the next surge of innovation. The event is set to showcase speakers from the largest cross-section of experts and influencers from Asia, who will examine challenges and opportunities unique to each country, as well as the effects of changing technology and business models, more consumer choice and shifting profit margins. They’re bold, opinionated, and not afraid to shake up the status quo. 

Asia is one of the most exciting regions on the planet right now for fintech. Acknowledging its transformative role and the exciting developments it has jumpstarted, Tracey Davies, President, Money20/20, notes the need for a collaborative platform in facilitating its growth: “Asia is a diverse and dynamic region and we have seen it taking fintech forward at an unprecedented pace. Collaboration is key in accelerating fintech innovation and we are excited to create access and open opportunities for all, from the latest disruptors to the world’s largest incumbents.” 

Designed and curated to empower participants with actionable, hyper-local, and profitable insights, this year’s programme will champion ten key themes, including some of the hottest disruption battlegrounds driving Asia forward: Challenger Bank and Superapp Models, Social Seamless Retail, and Payments Wars.

This year, all four content stages, 160+ exhibitors and multiple networking zones, are brought together on one floor, a new format designed to allow attendees to learn, connect, and accelerate business—at speed.

Here’s a taster of event highlights:

Startup Pitch: The next generation of disruptors and entrepreneurs will showcase their world-class products to a selection of VC judges – expect to see pitches from startups, who are pioneering new technologies and changing the trajectory of money in the region (and beyond). Applications are open until January 29.

CEO Unplugged: Debuting this year, CEO Unplugged will be Asia’s most diverse CEO programme dedicated to learning, knowledge sharing, and futureproofing. An off-the-record programme of bespoke, curated content designed to unite CEOs from across the industry.

Rise Up: Money20/20’s global accelerator programme for women’s leadership is back and bigger than ever before, offering access to unrivalled networking, private meetings and fireside chats led by some of the region’s most prominent and inspirational female leaders.

Kickstart 2020 at Money20/20 Asia from March 24-26, 2020, in Singapore with Asia’s heavyweights, winners, and disruptors.

Visa Supports Technology Start-up Currencycloud With $80 Million Funding

David Pender
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Visa Supports Technology Start-up Currencycloud With $80 Million Funding

In a major breakthrough, leading financial technology start-up, Currencycloud has announced that it has raised a whopping $80 million in funding backed by Visa.

Currencycloud has been selling payment software for banks and fintech firms in a bid to process their international transactions. The start-up is based in the United Kingdom.

The company’s recent bid for funding was co-led by SAP’s venture arm Sapphire and Visa. It has also received backing from various other leading companies that may include Google, BNB Paribas, Siam Commercial Bank, and Japanese bank SBI. Soon after the deal, Visa’s treasurer Colleen Ostrowski is likely to join the start-up’s board.

Mike Laven, Currencycloud’s chief executive officer, said the firm counts Visa as a key investor. Currencycloud has inked a partnership with Visa to offer its clients access to Currencycloud’s technology, added Laven.

Currencycloud is also working with several alleged challenger banks in the UK that may include Monzo, Startling, and Revolut. And, they have earned scores of users who have been banking with them via only an app and debit card.

Laven said,

Their end-user customers, for the most part, will never see that we’re there. We’re a piece of embedded finance in the tech stack. It’s not as sexy, but it’s an incredibly good business.

Currencycloud has channelized efforts towards re-imagining how money circulates all across the world economy and pushing it into future platforms, asserted Laven in an official statement.

According to reports, the firm has reportedly raised over $140 million from investors and has already processed more than $50 billion dollars in payment ever since it came into existence.

Currencycloud’s headquarter is located in London. The firm provides 85 APIs that will include everything right from foreign exchange to inbound money collection, and multiple currency digital wallet services.  Laven also revealed that as many as 350 companies began using the APIs by the end of 2019.

The decision of Visa to fund Currencycloud came immediately after the company acquired Plaid. Plaid offers APIs to connect fintech apps to individual bank accounts for $5.3 billion.

Ex-deputy Governor of PBoC: China Should Slow Down the Launch of CBDC

Timmy Murphy
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Ex-deputy Governor of PBoC: China Should Slow Down the Launch of CBDC

After cryptocurrency gained a lot of attention and acceptance, many tech firms and financial institutes have been vying to launch their own digital currency. Many countries are also contemplating on creating their virtual currencies; China is leading this race. China started seriously working on the plans of launching its own cryptocurrency after Facebook revealed plans to create Libra.

After a statement from Huang Qifan, vice-chairman of China’s Center for International Economic Exchanges (CCIEE), that China would be the first country to launch its own cryptocurrency; it seemed that China was racing to develop their virtual currency.

Recently, the ex-deputy governor of the People’s Bank of China, Zhu Min, suggested that the country should take an interest in the global proceedings of Libra. According to Zhu Min,

I think it’s critically important to join the discussions and take part in coordinated global regulation of Libra.

This thought was backed by the current chief economist for the Hong Kong Stock Exchange, Ba Shusong. He too believes that a multilateral institution needs to be set up to monitor digital currencies like Libra.

Almost after the announcement of Facebook’s Libra, Chinese President, Xin Jinping, advised for the development and adoption of blockchain-backed technology.

Later on, there was news that China is contemplating investing more than $2 billion by 2023 for the advancement of blockchain technology. Yet, cryptocurrencies are a forbidden topic among the regulators in China.

China is working on developing its own central bank-backed cryptocurrency. This move will throw China to a different league, way ahead of the United States, which does not support the whole concept of cryptocurrency.

Will Tezos Continue to Move Steadily in the Upward Direction?

Ray Buckler
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Will Tezos Continue to Move Steadily in the Upward Direction?

Tezos (XTZ) price is trying to get out of the bear stronghold since the beginning of the year 2020. Over the past 30 days, the price has been slowly moving in the upward range between $1.27 – $1.76 showing that XTZ has been gearing itself to fight the bear pressure.

Tezos Price Analysis

XTZ coin has been giving a good fight to the bears, as seen from the past 30 days’ movement. The price of Tezos coin started on a high note at $1.7630 on December 28, 2019. However, the coin faced a massive fall of 27.92% on January 07, 2020. After this drop, the currency started to recover, and the price reached $1.5312 by 20.35% hike. Then on January 19, the currency price went down to $1.4013 by 8.57%. On the next day, Tezos coin marked a steep hike of 22.70% and the price reached $1.7223. In the next 4 days, the price again fell to $1.4755, showing a downward swing of 14.33%. Today, the price of XTZ coin has again managed to recover at $1.5403, recovery being at 4.38%.

XTZ News

Tezos cryptocurrency has now shown a grit of pushing its price in the upward range over the past 30 days, even under continual bear pressure. Analysts expect the coin to prove its mettle during the year when the crypto market is expected to show more stability.

Current investors should continue to hold their investments from a long-term perspective. Day traders can continue to trade and make decent gains even under the current crypto market volatility.

XRP Price Improvement Might Invite the Rally

Marisol Contreras
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XRP Price Improvement Might Invite the Rally

The crypto market has been registering downside movement in the past couple of days. The same was experienced due to the selling pressure in the market. The top coins, like Bitcoin, Ethereum, and even Ripple, were badly affected by the pressure.

Ripple cryptocurrency is currently improving and looks like it would continue to escalate for the rest of the day. In the coming days, it is speculated that the upsurge would invite the rally in the market.

XRP Price Analysis

XRP News

XRP price was spotted at $0.22562 during the opening hour on yesterday. At 02:55 UTC, the price dropped to $0.21716 by 3.75%. In the next 3 hours, the coin has shown improvement and touched $0.2225. By 09:53 UTC, the coin touched $0.213 by 4.19% drop. Further, the XRP price escalated to $0.225 by 5.26%. Then, in the next 3 hours and 49 minutes, the price slipped to $0.2215. Later, Ripple crypto reflected a 1.39% hike and touched $0.2246 by 1.39%.

The closing hour brought the XRP price to $0.2218. The overall intraday movement reflected a 1.68% regression in the price. Today, Ripple price was at $0.2161 at 01:52 UTC. Later, the price improved and touched $0.2214 in the next 7 hours, but again dropped to $0.2158.

The current price of the XRP coin has breached the immediate resistance level at $0.216. The possibilities of dropping to the next support level at $0.210 are rife. The improvement in the currency takes place in a while till then; the traders recommended to keep calm. The future of the coin is likely to be flourishing. It might take some time to embark on hefty improvement.

R1: 0.227774 R2: 0.232506 R3: 0.238699

S1: 0.216849, S2: 0.210656 S3: 0.205924

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