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Ripple's XRP Ledger to Facilitate "Ultra-Fast" Trading of Traditional Stocks and ETFs

  • Alex Dovbnya
    📰 News

    The launch of CoinField's "Sologenic" platform that will allow trading major stocks on the XRP Ledger is expected to happen in 2020

Ripple's XRP Ledger to Facilitate "Ultra-Fast" Trading of Traditional Stocks and ETFs
Cover image via www.123rf.com

Cryptocurrency exchange CoinField has announced that it will enable "ultra-fast" trading of traditional investment instruments, such as stocks, ETFs, and fiat currencies, on Ripple's XRP Ledger (XRPL), according to a press release that was shared with U.Today.    

Coinfield CEO Bob Ras says that it will possible through its new platform called "Sologenic," which is slated to launch in 2020. 

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The tokenization of traditional assets has become a new hot trend in the cryptocurrency industry. In such a way, investors from all over the globe are able to trade US stocks around the clock.    
 
DX.Exchange, another Estonia-based exchange, started offering investors the tokenized shares of FANG companies back in January. Around the same time, Zilliqa partnered up with MaiCoin to launch a Singapore-based exchange for tokenizing tech stocks. 

Apart from making traditional markets more accessible, Ras states that Sologenic would also help to drive cryptocurrency adoption. 

“We’re making it easy for people around the world to have access to different global stock exchanges via the Blockchain. [...]  Ultimately, Sologenic helps the mass adoption of cryptocurrency by allowing people to invest in stocks. It’s a WIN-WIN for everyone!"

The exchange uses its own fiat-backed Solo (SOLO) cryptocurrency in order to provide liquidity for trading. Major stocks and ETFs will be traded in the form of stablecoins against XRP and Solo on CoinField.    

This platform tokenizes stocks on the XRPL as demanded, allowing you to trade it against any cryptocurrency and spend in real-time anywhere. 

The XRP Ledger seems like an obvious choice for running Sologenic given that its consensus algorithm is capable of processing up to 1,500 transactions per second. 

As reported by U.Today, Ripple's XRPL recently achieved an important milestone by closing its ts 50-millionth ledger.  

Will you trade traditional assets on the XRP Ledger? Let us know in the comments!   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
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    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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