ICO Alert Crypto Minute: January 12, 2018
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Ripple and MoneyGram Collaborate to Test Money Transfers through xRapid Network
Ripple has teamed up with MoneyGram make MoneyGram’s money transfers faster and more efficient through Ripple’s xRapid payment network. As reported by CNBC, Ripple’s XRP increased 15 percent to reach USD 2.22 at as of 9:55AM EST yesterday. This collaboration is currently just a test.
Popular Chinese Search Engine, Baidu, Adds Blockchain-as-a-Service Platform, Baidu Trust
Baidu, one of the most popular web search platforms in China, has launched its own blockchain-as-a-service (BaaS) platform, called Baidu Trust. According to Coindesk, Baidu Trust enables distributed ledgers to be applied in various use cases — such as digital currency, insurance management financial auditing, and more. Baidu claims to already have contributed to the “first asset-backed securities exchange products using blockchain technology in China.”
Binance Adds 240,000 New Users in Just One Hour
According to the Independent, Binance.com added 240,000 new users in just an hour yesterday. The sudden increase in registrations occured after the company lifted a temporary suspension due to high demand. Binance had to place a temporary ban on new traders again after the sudden surge in registration.
Mike Novogratz Announces Plans to Start Cryptocurrency Merchant Bank, Galaxy
Billionaire and former Wall Street trader, Mike Novogratz, has announced plans to start a cryptocurrency merchant bank called, Galaxy Digital LP. Novogratz intends to raise USD 200 million and list public shares of the bank on Canada’s TSX Venture Exchange. According to Bloomberg, Novogratz plans on making Galaxy “the Goldman Sachs of crypto.”
