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Ripple Could Be Adding Large Vietnamese TPBank to RippleNet via SBI Giant

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  • Yuri Molchan
    📰 News

    Ripple continues its global expansion via the Japanese SBI finance giant as it plans to sign up a large Vietnamese TPBank on RippleNet

Ripple Could Be Adding Large Vietnamese TPBank to RippleNet via SBI Giant
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The crypto giant Ripple continues to sign up more banks around the world on its global network RippleNet. As reported by U.Today previously, in Asia and Japan, Ripple is pushing its blockchain technology forward via its partner - the financial giant SBI.

The first step on its path will be the collaboration of the Money Tap payment app running on RippleNet with PayPay – another popular Japanese payment app.

More good news is that now Ripple may be rolling out to Vietnam.

SBI partners with TPBank

In a recent interview, the TPBank’s CEO, Nguyen Hung, confirmed that TPBank plans to collaborate with SBI for faster transactions.

TPBank Ripple
Image via Vietnaminsider

RippleNet was created in collaboration between Ripple Labs and SBI Ripple Asia, based on the nascent blockchain technology. Unlike traditional systems, such as SWIFT, RippleNet transactions just take minutes to complete and get the money sent to any part of the world, regardless of the distance.

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More of recent Ripple’s partnerships

As reported by U.Today, a while ago, Ripple’s investment company Xpring acquired Strata Labs, a small startup that is busy building the Interledger (ILP) network.

Prior to that, in August, Xpring had also bought Equilibrium Connect to streamline the Interledger adoption. Now, Xpring intends to let developers build their own decentralized projects on the ILP network using Strata’s proprietary code.

What are your thoughts on the possible Ripple’s entrance into the Vietnamese market? Feel free to share them in the comments under the article!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

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  • Alex Dovbnya
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    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
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According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

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Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

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The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

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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