Talking about cryptocurrencies with use cases, one cannot but mention Ripple (XRP), Stellar (XLM), EOS (EOS), Nano (NANO), and Basic Attention Token (BAT). These are promising crytpocurrencies.
While many people may be doubting the unmatched performances of these cryptocurrencies, Weiss Ratings, which brags as the “nation’s leading provider of independent, unbiased, trusted ratings of Stocks, Mutual Funds, Cryptocurrencies, ETFs, & Financial Institutions”, also resonated this claim yesterday, however, it did not give reasons for the selection of these few coins.
“Here are some of the #cryptocurrencies which look very promising: #NANO, Basic Attention Token (#BAT), #XLM, #EOS, #XRP.”
Ripple’s xRapid Is Going To Be A Game Changer
Ripple (XRP) has some awesome tools deployed during cross-border remittance. The cryptocurrency is going to be unveiling xRapid, a tool that is going to be fully dependent on XRP.
Prior to its launch in months to come, xRapid has sealed rewarding partnerships to enable it make cross-border remittance in Philippine and South America successfully.
Through partnership with Bittrex, Coins.ph, and Bitso exchanges, Ripple’s xRapid will be able to service more than 10 Million overseas Filipino workers who require cross-border remittance.
Bittrex is to hold transactions made with US Dollars, while Coins.ph and Bitso are for Philippine Pesos and Mexican Pesos respectively.
In a statement by Ripple, xRapid, a cross border payments tool that reduces liquidity costs has dependable speed, scalable and seamless. In the same vein the tool, unlike Swift, is powered by low transaction cost.
Cory Johnson, Chief Market Strategist at Ripple, who spoke on the development said:
“Bittrex is one of the biggest names in digital asset trading in the U.S. The same goes for Bitso in Mexico and Coins.ph in the Philippines. That makes today’s announcement an important development for xRapid.”
He added that
“We’ve seen several successful xRapid pilots already, and as we move the product from beta to production later this year, these exchange partners will allow us to provide financial institutions with the comfort and assurance that their payments will move seamlessly between different currencies.”
However, Ron Hose, CEO of South East Asia’s Coins.ph showed his happiness, pointing that,
“We are excited to be partnering with Ripple to bring the benefits of blockchain technology to cross-border payments, making sending money home more affordable for 10M+ overseas filipino workers”.
Explaining Stellar’s Unlimited Cross Border Payment
Stellar is one of the few cryptocurrency with tenable use cases. Not long, Stellar grabbed a compliance certification, becoming the first distributed ledger protocol (DLT) to be conferred such opportunity. Stellar technology and network received the certification from The Shariyah Review Bureau (SRB), a renowned international Sharia advisory under the Central Bank of Bahrain.
The certificate of Shariah compliance makes Stellar (XLM) okay for Muslims in the middle east and confirms that Stellar does not involve in anything anti-Islam.
The certification according to a statement, will help
“grow the Stellar ecosystem in regions where financial services require compliance with Islamic financing principles. For example, Islamic financial institutions in the Gulf Cooperation Council (i.e. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) and parts of Southeast Asia (e.g. Indonesia and Malaysia) will now be able to integrate Stellar technology in their Sharia-compliant product and service offerings.”
The development is a revolution in the history of not only Stellar but in cryptocurrency world, and the move is expected to open cryptocurrency to myriads of opportunities it the region.
Nano (NANO): Explaining the Uniqueness
Hard to mention good cryptos without mentioning Nano (NANO). In August market analysts say Nano is the month’s top performing cryptocurrency inspite of the hurdles faced by many cryptocurrencies in the month.
Nano showed resilience in the second half of the month even after witnessing a yearly of $0.74 on Aug. 14.
After the reduction in price, Nano bounced back, rising by 73.85 percent in the month, while driving past the top 30 cryptocurrency in the market.
This month, Today’s Gazette published that Bitcoin Superstore revealed that Nano (NANO) is now the month used cryptocurrencies over 200,000 online stores that it partnered with. It said Nano accounts for 20% of all transactions performed on the platform.
Conclusion: cryptocurrency like Ripple (XRP), Stellar (XLM), Nano, and Basic Attention Token (BAT) are going to disrupt the space. They need to be followed keenly.