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AtoZ Crypto weekly: Ripple IPO and Facebook decentralized stablecoin

Redwan Eid | Apr. 13, 2019
AtoZ Crypto weekly: Ripple IPO and Facebook decentralized stablecoin

April 13, 2019, | AtoZ Markets - The Ripple IPO starts its bet, and ASIC and FCA put their hands together to continue their cooperation after the Brexit. Skype shows openness to discuss adopting the Ripple, and Facebook is the last to know it had raised $1 bln for its decentralized stablecoin!

These are the most prominent headlines the week has seen so far.

Welcome to our AtoZ weekly crypto brief, and the start is with Jacob Burrell Campos, a 22-year-old US citizen and resident of Mexico, who got a two-year imprisonment sentence for having been involved in selling bitcoin through an unlicensed business.

The US Department of Justice representatives said that Burrell promoted his unlicensed bitcoin sale business through LocalBitcoins.com, using text messages and emails to communicate with his clients.

Barrel accepted payments through MoneyGram, ATMs, as well as personally, getting commissions that exceeded the current exchange rate by 5%.

The Ripple IPO starts its bet – success or failure?

The information given under this headline were provided by a group of researchers who work for a private exchange, where they said that the Ripple IPO might prove unsuccessful.

The researchers see as well that If Ripple was fostered by a larger institution, it would have rated better.

The exchange, which trades in Ripple equity, raised concerns with regard the long-term viability of the remittance and settlements solution provider, while the argument in the research paper pivoted around whether a Ripple IPO would be an attractive investment, as even with cryptocurrencies like XRP having the ability to play as a settlements solution, the competition in this regard would still stand as a barrier, however, the same research still said that the Ripple IPO could become highly lucrative!

Facebook does not know it had raised $1 bln for its decentralised stablecoin!

The author of the popular Bitcoin book, Nathaniel Popper, shared on his Twitter account that Facebook intends to raise a sum close to $ 1 billion to finance the Facebook decentralized stablecoin. However, neither Facebook nor any well-known venture capitalists confirmed the news from Popper.

Atoz Markets had reported a month before, that the social media giant was developing a cryptocurrency that would be pegged against the United States’ dollar and is intended to be exchanged on Facebook-owned WhatsApp, focused mainly on the Indian market.

The controversy of the alleged fundraiser concluded that the Facebook coin may hit the market any time soon!

ASIC and FCE: hand by hand to keep the cooperation after Brexit

Financial regulators, not only in the EU, but in other continents as well, are preparing for their post-Brexit Forex regulations. 

In that context, both the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) confirmed earlier this week that they would keep mutual cooperation and coordination regardless of any Brexit developments.

Both regulators agreed on two Memoranda of Understanding, in correspondence with the G20 regulations.

The memoranda ensure mutual cooperation between the two financial bodies, in trade repositories and alternative investment funds (AIFs), after the UK leaves the EU.

The Forex trading sector may witness improvements under the new memoranda, as the news says.

AtoZ Market mid-week break was with an intriguing article and which bitcoin apps are the best in use in 2019.

Crypto visa cards for better bitcoin payment!

Bitcoin and other large cryptos, including ethereum, ripple, and litecoin, are somehow considered difficult to spend and use in the real world than traditional fiat currencies. The price of Bitcoin has always been described of being too unstable, and volatile to be used as a means of payment.

The Coinbase crypto exchange launched, as per resources, Visa debit cards for shopping using bitcoin and other top cryptocurrencies including ripple, ethereum, and litecoin. With Coinbase Visa cards, customers in the UK and Europe are said to be able of spending their crypto deposits directly from a Coinbase account.

Skype may surprise us in adopting Ripple!

The Ripple (XRP) community reportedly had talks this week with Microsoft Skype, over integrating the crypto mentioned as a micro-payment on the Skype network.

Skype’s management promised to study the suggestion with other joint departments at the company.

In the last period, the talk about the possibility of Ripple to be a mainstream currency, was in the news more. For that to happen, financial analysts said there should be a widespread adoption, like a giant organisation or institution to adopt it as a means of payment. However, Ripple was said to be working on this recently, with other options of making the currency a micro-payment solution are still on the table, like using it through XRPTipBot on Twitter, Reddit, Gmail, in addition to Discord, as per news outlets.

That was all we have for our tour this week, keep tuned for another brief of the most important headlines the week brings, the next week-end.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.