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Articles by Williams Mugwagwa

Ripple and Intermex Partnership Targets Cross-border Payments Between U.S. and Mexico

February 5, 2020

Ripple has entered in a new partnership. Together with International Money Express, Inc. (Intermex) it will ensure faster cross-border payments between the U.S. and Mexico.Ripple, a blockchain company specializing in global payments announced on Feb. 4 that it has partnered with International Money Express, Inc. (Intermex), a company providing remittance services to Latin America and the Caribbean corridor. The partnership between Ripple and Intermex is another testament to the blockchain firm’s ability to ink deals with companies in the existing financial system.The deal will see Intermex use Ripple’s On-Demand Liquidity (ODL) product via RippleNet, the company’s flagship product that connects financial institutions and allows them to send money across the globe instantly, reliably, and

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XRP Price Surges Beyond $0.25 after Ripple Unlocks 500 Million Tokens from Escrow

February 3, 2020

The XRP token had a great start to the week following a 2.82 percent surge in price after Ripple, the company that is using the cryptocurrency in its solutions, released 500 million tokens from an escrow account on Feb. 1, at least according to data provided by resource monitoring website Whale Alert.In the last 24 hours, XRP price has spiked from $0.2460 to its current price of $0.2522, CoinMarketCap data shows. XRP’s gains extended across the board to other altcoins particularly those in the top ten list. The altcoins recorded mild gains ranging from 0.02 percent (in the case of the stablecoin Tether) to a high of 0.5 percent for Ethereum. Litecoin and Cardano are down 1.11 percent and 1.92 percent respectively.XRP has fared well against the dollar since the beginning of the year,

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FinNexus Plans to Build Tokenized Asset Platform on XRP Ledger

January 20, 2020

FinNexus, an open finance protocol designed to create a bridge between different blockchains, announced via a Medium blog post plans to develop a tokenized asset platform on XRP ledger. The company will run a pilot project of the tokenized platform in Q4 this year.The crypto firm is planning to build three technical products: the Blockchain Interaction Protocol (BIP), a Protocol Cluster for Assets Payments (PCAP), and an Assets Distribution Protocol (ADP).To develop the BIP product, FinNexus will turn to Wanchain (WAN) blockchain to get more avenues to connect different blockchains. In the case of PCAP, the startup in contemplating to employ XRP Ledger to potentially “connect different digital currencies including Ripple and XRP.”Per the announcement, FinNexus wrote:“We will use XRP Ledger

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Ripple Spends $170,000 on Trump’s Staff to Shape Crypto Regulation in the U.S. in 2019

January 17, 2020

Ripple, the company widely associated with XRP cryptocurrency, spent $170,000 in the first nine months of 2019 on the American government to shape crypto regulation in the world’s economic powerhouse. This is known from the information published by the Center for Responsive Politics.Data sourced by the Washington D.C.-based non-profit organization from the Senate Office of Public Records reveal that the cryptocurrency firm used the money to lobby the Executive Office of President Donald Trump.The U.S. – the world’s leading economic hub and home to Wall Street – has failed to take a giant leap in becoming a major player in crypto regulation. Several U.S. government agencies have different views on crypto regulation and this makes it hard to come up with a single stance on the nascent

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Fintech Startup Fundbox Hires First CFO in Preparation for Future IPO

January 15, 2020

San Francisco based financial technology startup Fundbox Inc. hired a former investment banker Marten Abrahamsen as its first-ever chief financial officer (CFO), the Wall Street Journal reported on Jan. 14. Abrahamsen was brought in as CFO to bolster the company’s executive team as Fundbox prepares to launch a potential initial public offering (IPO) in the future.Founded in 2013 by three partners – Eyal Shinar, Toma Michaeli, and Yuval Ariav – the startup helps in expediting the payment of outstanding balances owed to sellers and extends a line of credit to buyers so that they can meet their financial obligations on time. A 2019 research report revealed that U.S. companies are owed as much as $3.1 trillion, the startup said in a press statement.Targeting companies in several industries

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