Uphold Seeks Information Regarding Shiba Inu Partner, Bad Idea AI The Tech Report
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Upcoming Listing?: Uphold Seeks Information About Shiba Inu Partner The Crypto Basic
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Uphold Relists Nine Altcoins in Canada, Including Shiba Inu, Cardano, Dogecoin, and Others The Crypto Basic
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XRP Survives as Uphold Delists Shiba Inu, Cardano, Dogecoin and Others in Canada The Crypto Basic
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Uphold’s Head of Research Dr. Martin Hiesboeck predicts that Bitcoin price will surpass the $200K mark very soon. In an X post, asserting a great institutional demand, Dr Martin drops a hint that the recent Bitcoin bull market is nowhere close to the upcoming one.
Bitcoin recently broke the $44K mark in response to the approaching spot Bitcoin ETF approval date. Microstrategy and other big players acquiring huge sums of Bitcoin shows a high institutional engagement which directly correlates with Dr Martin’s scope.
John Deaton Reacting On Bitcoin Price Prediction
XRP lawyer John Deaton is again advocating Bitcoin and the whole crypto market. Reacting to Dr. Martin’s X post, Deaton shared an “eye” emoji. By this, Deaton might be indicating investors to monitor Bitcoin price movement closely. Bitcoin is a highly volatile asset and any movement could break the $45K barrier moving closer to $50K.
Deaton recently revealed that he has staked most of his crypto funds in Bitcoin. Adding a sequel to the same, Deaton took a dig at his financial advisor who once called him a fool for owning Bitcoin and crypto, now advises his clients to own 1-5% in spot Bitcoin ETF.
The comment came after the recent listing of fidelity into DTCC. Additionally, Deaton argued that if spot BTC ETF is approved in January before the halving, commercial investors will enter the market.
Dr. Martin also shared the commitments of traders (CoT) chart showing the variance in Bitcoin’s price and the CoT asset manager’s net position on BTC.
According to the Bitcoin CoT data recorded till November 28, Bitcoin has experienced an increasing number of commercial investments. The larger spikes that came in November have shown that institutional investors have mostly shown interest between the $36,000 and $38,000 price bands.
Also Read: El Salvador Unveils A Bitcoin-based Freedom Visa Program Offering Citizenship
Spot BTC ETF Approval Awaits
Discussions between the US Securities and Exchange Commission and asset managers wishing to list spot Bitcoin ETFs have progressed to important technical issues, indicating the agency may soon approve the products, according to industry experts.
Thirteen corporations have outstanding applications with the Securities and Exchange Commission (SEC), including Grayscale Investments, BlackRock, Invesco, and ARK Investments.
In recent developments, Fidelity Investments has successfully placed its spot Bitcoin Exchange-Traded Fund (ETF) on the Depository Trust and Clearing Corporation (DTCC) under the ticker FBTC. This is a significant move towards an official approval of the Bitcoin ETF and an optimistic announcement that can further embrace the Bitcoin market.
At the press time, Bitcoin (BTC) price was trading at $43,229.12, with a 24-hour trading volume of $28 billion. This indicates a 1.56 % decrease in the last 24 hours and a 13.16% increase in the last seven days.
Also Read: Former Binance CEO CZ Should Remain In US, Judge Rules
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a significant development in the financial technology sector, Simon Mcloughlin, CEO of the American cryptocurrency exchange Uphold, has revealed details of their new partnership with blockchain-based global payments provider Ripple. This collaboration is set to make a substantial impact on the realm of international money transfers.
Ripple Payments Streamlined by Uphold Partnership
In a recent interview with Digital Perspectives, a leading crypto media outlet, Mcloughlin shed light on how Ripple’s payment product, aptly named “Ripple Payments,” is designed to streamline cross-border fund transfers for international companies. By leveraging XRP, Ripple’s cryptocurrency, the company aims to tackle the long-standing challenges associated with the global movement of funds.
The partnership envisions Uphold as a key player in Ripple’s network, serving as one of its primary liquidity providers. In this role, Uphold will handle cryptocurrency conversion into fiat currency, thus enabling smooth payouts to banks. This functionality is critical in Ripple’s framework, as it allows companies to open Uphold accounts pre-funded with XRP, provided by Ripple, facilitating efficient currency conversions.
Mcloughlin emphasized the regulated nature of Uphold’s operations within this ecosystem, initially covering the UK, Europe, and the US, with plans to expand into Brazil. Expecting to lend credibility and stability to the operations, this regulated approach ensures compliance with the financial norms of these regions.
Uphold Ripple Partnership Eyes $5B Volume
Mcloughlin addressed the difficulties individuals and businesses face in this domain, highlighting the intricacies of international financial transactions. He cited the example of Uphold’s recent licensing in Canada, humorously illustrating the challenges in funding a Canadian bank account. He expressed dismay over the outdated methods still in use, such as physical transportation of money, stressing the need for modern solutions to these age-old problems.
The CEO of Uphold shared his enthusiasm about being part of a solution that harnesses the power of cryptocurrency to address a widespread market issue. This sentiment underscores the growing recognition of digital currencies as viable tools for solving real-world financial challenges.
Regarding expectations for the volume of transactions, Mcloughlin did not provide specific numbers but projected an initial annual volume of around $5 billion through the partnership. He also indicated the potential for this figure to increase significantly, especially as regulatory clarity evolves in various parts of the world.
This partnership between Uphold and Ripple marks a notable step forward in using blockchain and cryptocurrencies for practical, everyday applications. The collaboration aims to alleviate the complexities and inefficiencies of traditional cross-border money transfers, offering a glimpse into the future of financial transactions.
Read Also: XRP Price Prediction: Like Ethereum, XRP Breaks Out Flaunting 16.5% Rally
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Uphold Exchange Holds Over 921 Billion Shiba Inu As Reserve The Crypto Basic
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Following Uphold’s recent announcement that it has integrated Cardano, the duo said it would be hosting a webinar to discuss the initiative in detail.
A recent Tweet by Uphold announces plans to host a webinar on August 17, 2022, at 4 PM UTC. The webinar will bring together senior executives, including Cardano Foundation John Macpherson’s Senior DeFi Relationship Manager.
According to the event calendar, the webinar will focus on Cardano’s development roadmap. The fact that Uphold will host the webinar indicates that the two entities mean business and are set to offer the best to the community.
Cardano and Uphold took to their respective Twitter handle to announce the development.
We’re excited to announce that we’re hosting an exclusive webinar with Sandro Knöpfel, Head of Financial & Regulated Institutions & John Macpherson, Senior DeFi Relationship Manager at Cardano on Wed 17th August, 4PM UTC!
Register here 
https://t.co/gIFSzTgpn9
See you there! pic.twitter.com/QXXOca6jfP
— Uphold (@UpholdInc) August 9, 2022
Meanwhile, the Cardano Foundation noted that it would use the opportunity to update its community about recent developments on the blockchain and upcoming projects.
Join the webinar tomorrow to hear about:
The latest releases to the #Cardano #blockchainWhat’s up next on the project roadmapWhat sets Cardano apart from other platforms@UpholdInc‘s new integration with Cardano which allows for deposits, withdrawals, and staking https://t.co/J35A0St9JE
— Cardano Foundation (@CardanoStiftung) August 16, 2022
Cardano’s Price Performance
Cardano (ADA) has been making waves in the market as the coin gained value by significant margins. The coin is now trading at $0.57, with a 4% 24-hour increase and a 7-day uptick of 12.7%.
Cardano’s success can partly be attributed to its resilience in the sometimes tumultuous market and efforts to enter into partnerships with various crypto and blockchain-related entities.
Uphold Fully Integrated Cardano
Earlier this month, the blockchain network and its native coin (ADA) scored a significant win with Uphold. Uphold, the digital money platform, recently added support for Cardano, thus giving its more than 1.7 million users access to deposit, withdraw, and stake ADA.
What Is Uphold?
Covering over 200 currencies that include crypto and fiat, Uphold prides itself in serving over 184 countries across the globe. It facilitates flawless cross-border fund transfers.
The platform has handled over $4 billion in transactions since its inception in 2015. The platform links users and businesses worldwide with e-money apps that facilitate trading between currencies in a safe environment.
Importance of ADA Integration on Uphold
Uphold’s the integration of Cardano will boost Cardano’s position as one of the most prevalent blockchain networks in the industry. It will also boost ADA’s reach as it gets introduced to a larger user base on Uphold.
Uphold plans to support ADA deposits, withdrawals, and staking. With Cardano’s Vasil upgrade coming of age soon, the integration with Uphold will surely be a considerable boost.
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Source: https://thecryptobasic.com/2022/08/17/cardano-and-uphold-to-host-a-joint-webinar-following-integration-of-ada-to-upholds-platform/?utm_source=rss&utm_medium=rss&utm_campaign=cardano-and-uphold-to-host-a-joint-webinar-following-integration-of-ada-to-upholds-platform
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