XRP, the third largest cryptocurrency by market cap is surging with increasing adoption by various crypto platforms. The latest poll rolled by a UK based payment company, PayGlobal revealed community’s highest interest towards XRP, resulting the firm to prioritize XRP listing over other leading cryptocurrencies.
Which crypto should we add for @Payglobalme cash at atm and bank card payouts?
— PayGlobal (@Payglobalme) March 10, 2019
PayGlobal payment offers wallet service and ATM bank cards to masses. The firm intends to soon add cryptocurrency option at ATM and bank card payouts thus recently ran a poll on Twitter, asking user’s preference among EOS, XRP, and LTC. Reportedly, the poll received more than 8k responses and among all three top cryptocurrencies, XRP stood out with 88% highest votes, LTC with 9% and EOS with 3%.
However, XRP is yet to on-board – but on March 11, 2019, PayGlobal took to Twitter, stating that the XRP cryptocurrency sent to the product team with priority.
— PayGlobal (@Payglobalme) March 11, 2019
XRP’s adoption is on the massive run – as recently reported, Trust wallet of Binance cryptocurrency exchange has also announced the listing of XRP which marks a great move for XRP and the community at large.
To note, the average market cap of XRP is up by 1.23 percent over the past 24 hours, counting it $13,006,441,876. Furthermore, one XRP coin is valued at $0.31 US dollar respectively.
Twitter Blocks XRP Payments Platform Amid Rumors of Bitcoin (BTC) Integration
Twitter has blocked the popular XRP Tip Bot, which allows users to send XRP to one another by tweeting a string of commands. The platform is designed to give users an easy way to reward one another and support content creators.
“Hello, It has come to our attention that your Twitter account is in violation of the Twitter Rules, specifically the policy on Impersonation. Impersonation is pretending to be another entity in order to deceive, and is strictly prohibited. This account has been suspended and will not be restored.”
The XRP Tip Bot launched in October of
Twitter’s decision to ban the account comes amid reports that the tech company may implement a tipping platform of its own as well as rumors that it will integrate Bitcoin.
In February of last year, Twitter and Square CEO Jack Dorsey said he “loves the idea” of giving users on Twitter the ability to tip with BTC.
Square Crypto, a subsidiary of the payments company Square, recently announced the release of a software development kit for Lightning – a Bitcoin scaling solution designed to increase the speed and lower the cost of sending BTC.
Ripple CEO Hints at IPO, Says More Crypto Firms Will Go Public in 2020
Ripple CEO Brad Garlinghouse predicts that initial public offerings (IPOs) will become more prevalent in the cryptocurrency and blockchain space in 2020.
Speaking at the World Economic Forum in Davos yesterday, Jan. 23, Garlinghouse reportedly hinted that Ripple would itself be one of those firms to seek a public flotation:
“In the next 12 months, you’ll see IPOs in the crypto/blockchain space. We’re not going to be the first and we’re not going to be the last, but I expect us to be on the leading side… it’s a natural evolution for our company.”
An IPO refers to the process of offering the shares of a private corporation to the public in a new stock issuance. For this reason, it is sometimes referred to as “going public,” or as “floating” corporate shares to the wider market.
The cryptocurrency industry has to date focused its energies on initial coin offerings (ICO), which evolved as an alternative issuance model for still-young, innovative firms
Yet as the space matures — and arguably, in the wake of the post-boom ICO rout, which saw many offerings exposed as either outright fraudulent or simply unsuccessful — some firms are now seeking to build confidence with mainstream investors by way of public listings on traditional stock exchanges, with all of the red tape and financial disclosures that implies.
This is a trend that Garlinghouse appears to believe will consolidate itself in the near future, even as some of the industry’s largest players have thus far struggled to meet the stringent requirements of an IPO.
As an alternative to adopting a traditional flotation model, major crypto firms such as Blockstack have instead chosen to pursue compliant token sales, with the approval of the United States Securities and Exchange Commission.
Silvergate Bank — a California-based commercial bank focused on digital currency businesses — went public with an IPO on the New York Stock Exchange in Nov. 2019.
Ripple Reports Selling Just $13M of XRP Last Quarter
Ripple’s XRP sales fell dramatically in the last quarter of 2019 – at least partly due to change in how the company sells its store of the third-largest cryptocurrency by market capitalization, the company said Wednesday.
XRP sales in Q4 dropped 80 percent from the $66.24 million sold in Q3 to just over $13 million, according to Ripple’s XRP Markets Report. The drop is at least partly attributable to a total suspension in programmatic sales, which accounted for $16.1 million the previous quarter. Over-the-counter (OTC) trades also dropped 74 percent quarter on quarter (QoQ).
“In Q3 2019, Ripple further reduced XRP sales and paused programmatic sales. Ripple maintained this approach throughout the entirety of Q4,” the market report reads. Ripple said OTC trades had remained focused in providing liquidity and utility to partners in “strategic regions,” which included Asia, Europe,
Ripple announced in June it would adopt a more “conservative approach” to quarterly XRP sales to address concerns of misreported volumes from cryptocurrency exchanges. This came into effect soon after the company sold $251 million worth of XRP tokens in Q3.
Programmatic sales were made directly to exchanges and used to make up the majority of XRP sales figures, accounting for $144.6 million in Q2 2019.
Ripple also said in Wednesday’s report its On-Demand Liquidity (ODL) tool, which uses XRP as a bridge currency for cross-border payments, had proven to be successful with clients. The dollar value of XRP transacted through ODL increased 650 percent between Q3 and Q4, with transaction volumes increasing 390 percent QoQ.
Excluding the billion tokens released at the beginning of January, the company’s escrow accounts currently hold approximately 48.9 billion XRP tokens.
UPDATE (Jan. 24, 09:03 UTC): A previous version of this article said quarterly XRP sales had dropped by 75 percent. This has since been corrected.