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CZ hints at addition of fiat deposit feature to Binance exchange




CZ hints addition of fiat deposit feature to Binance exchange
Source: Pixabay

Changpeng Zhao, the CEO of Binance, the world’s largest cryptocurrency exchange, hinted at the addition of a fiat deposit feature to Binance recently.

Binance recently added Trust wallet as its official wallet, allowing users to buy cryptocurrencies with credit cards. During this announcement, the exchange added that the wallet would provide support for XRP, the third largest cryptocurrency. This is yet another development for XRP in the past two days, and it was welcomed by many in the Twitterverse. XRP enthusiast @RipplePandaXRP tweeted,

“For those who doesn’t know yet
You can start buying #XRP with credit card at @binance!!! And there is a daily USD20,000 limit, and USD50,000 per month.
Check out the pictures for the restricted countries and cities.”

The thread continued as RipplePandaXRP added,

I’m waiting for the fiat deposit & withdrawal services by @binance, wonder when it will be launch in Singapore?
@cz_binance, mind sharing any juicy news on this? 😍”

CZ, however, was quick to respond, and stated that these services will be added pretty soon.

This is yet another instance of CZ making a Binance announcement on Twitter. CZ had previously confirmed the addition of XRP as a base pair on Binance a few days before Christmas last year.

Additionally, CZ supported XRP in a recent AMA, and put the FUD to rest by claiming that XRP was not a security. CZ stated,

“… if XRP is ruled as a security, it would seriously hurt a lot of US users, and to a certain extent, other users around the world too. It certainly doesn’t look like a security to me, but that’s just one person’s opinion.”

@ripplepandxrp replied,

“Thanks for the reply!!! Looking forward to it!
I’m so excited!!!!”

@bullable_guy456, a Twitter user commented,

“Hate to be that guy, but when will XRP become a major base pair and not just for two coins..???”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Rabobank announces plans to drop its crypto-project

Sarvesh Kumar



Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,

“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.

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