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Ripple Embraced by UAE-Based Banks and Cryptocurrency Exchanges

Ripple embraced by uae-based banks and cryptocurrency exchanges

Ripple Embraced by UAE-Based Banks and Cryptocurrency Exchanges

Ripple embraced by uae-based banks and cryptocurrency exchanges

Ripple has made a big impact on the cryptocurrency industry. Its native XRP asset is in high demand on a global basis.  BitOasis, Dubai’s top cryptocurrency exchange, will enable XRP trading later this week. This news comes on the heels of the UAE’s RAK bank partnering Ripple for instant blockchain payments in India. The year 2018 may prove to be very solid for the blockchain company and their XRP asset.

The addition of XRP to BitOasis is a big development for Ripple. Their native digital asset has never been in such high demand before. The Dubai exchange feels now is a good time to introduce traders to this particular asset. The new trading markets will go live on January 30th. Customers can buy the XRP token using AED wire transfers or UAE-issued credit cards. BitOasis raises the bar in terms of making the purchase of XRP a lot more convenient for its users.  This is the third currency to be supported by the exchange, next to bitcoin and Ethereum.

Ripple Makes Headway in the UAE

According to BitOasis, there is an increasing demand from customers to trade and buy XRP. Considering how this exchange is one of the biggest platforms in the region right now, they have to set a precedent. Whether or not other companies will follow their lead by example, remains to be determined. It is certainly possible other companies will follow this example in the coming months. Global demand for Ripple’s asset is soaring despite the current lower price. It’s good to see BitOasis come back so strongly. Earlier this month, they faced issues with Emirates NBD blocking transfers to this platform.

This is not the only positive news for Ripple in the UAE region. More specifically, the UAE’s RAK bank has also shown a keen interest in this company. Thanks to a new partnership, both entities will use blockchain technology for instant payments to India. Ripple’s ecosystem, known as RippleNet, has a lot of promise in this regard. Enabling live retail remittance payments to Axis Bank users in India is an interesting option to explore. Furthermore, this is another validation of what Ripple is trying to achieve.

The world of international payments is undergoing many different changes. Using blockchain technology is the next logical evolution in this industry. RAK Bank aims to launch instant, frictionless, and secure money transfer services to India’s Axis Bank customers. Only time will tell if they can be successful in this regard. Axis Bank is also one of Ripple’s partners since January of 2018. They are also using into using RIppleNet for cross-border remittance.

Published at Mon, 29 Jan 2018 08:41:44 +0000

Altcoins[wpr5_ebay kw=”bitcoin” num=”1″ ebcat=”” cid=”5338043562″ lang=”en-US” country=”0″ sort=”bestmatch”]

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BitPesa & BitBond Jumpstart Bitcoin Blockchain Loans to Kenya

German Blockchain loans provider BitBond has partnered with BitPesa to facilitate payments directly to Kenya mobile accounts.

BitBond: Sub-Saharan Africa is 10% of Our User Base

The international partnership comes as Sub-Saharan Africa grows to 10% of BitBond’s user base and BitPesa’s popularity in its native Kenya continues.

BitBond CEO Radoslav Albrecht said in a blog post Tuesday:

This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes. 

 

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Smaller African enterprises’ lack of access to mature funding options has become a focus in recent times. In catering specifically to businesses, BitBond hopes to provide a major overhaul to the local ecosystem using the Blockchain and bitcoin as a backbone.

Focus on Developing Market Financing

Earlier this month, Daimler hinted at the possibility of considerable expansion into African markets following its acquisition of a European cryptocurrency transmitter business.

The concept is likely to involve similar facilitation of funding access for local businesses – specifically those in the automotive transport sector – helping resolve the current status quo where loanshark-like operators abound.

Africa mobile

“The major problem observed in the automotive sector is lack of adequate financing facilities,” Ethiopian financial services company director Eskinder Desta told industry magazine Autconomy in an article discussing Daimler’s move.

Across the world’s developing economies, a reported 2 billion individuals and 200 million businesses lack the sort of funding options available elsewhere.

“This is an unprecedented level of innovation and convenience in the entire online lending space,” Albrecht added.

Blockchain Channels International Remittance Interest

BitPesa offers a raft of cashing out options on the consumer end, first and foremost via Kenyan mobile accounts, the analog equivalent of which – M-Pesa – has held a consumer monopoly for years in lieu of significant banking penetration.

The startup is seeing continued international interest in its remittance functionality. In February, Japanese-Kenyan company Africa Incubator joined up in order to expedite payments to and from the Far East.

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“We are always excited to partner with companies that make doing business in Africa easier and more efficient,” BitPesa’s CEO Elizabeth Rossiello continued on the BitBond deal.

Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth.

What do you think about BitBond’s plan to increase Blockchain loans to Kenyans? Let us know in the comments below!

Images courtesy of Shutterstock, Bitpesa, Bitbond

The post BitPesa & BitBond Jumpstart Bitcoin Blockchain Loans to Kenya appeared first on Bitcoinist.com.

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