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XRP Remittance Transactions From US and EU Surge 80 Percent This Fall

  • Yuri Molchan
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    A respected XRP community member from Japan shares data showing that the XRP usage for remittances to Mexico and Philippines spiked 80 percent this September

XRP Remittance Transactions From US and EU Surge 80 Percent This Fall
Cover image via news.u.today

A Twitter user and a member of the XRP community, @sentosumosaba, has taken to her Twitter page to share some positive news about XRP.

She refers to an article in Japanese which says that in September this year, the amount of remittance operations with Ripple-managed XRP from the US and Europe to Mexico and the Philippines has surged 80 percent.

 

The data she mentions is registered by the xRapid system, using the crypto exchanges Bitso (Mexico), Coins.ph (the Philippines), Bittrex (the US) and Bitstamp (the EU).

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In particular, the amount of XRP transferred from Bitstamp to Bitso in September, totaled 70 percent of the overall xRapid transaction volume. 

Earlier on Monday, U.Today reported that XRP was the only asset surging in the market while Bitcoin and the other top-ten coins went down.

What is your view on the rise of the XRP usage for making remittances to Mexico and the Philippines? Feel free to leave your comments below.

 

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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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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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