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Ripple partner TransferGo adds Bitcoin [BTC], XRP [XRP], Litecoin [LTC] and others for trading

Anirudh VK

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Ripple partner TransferGo adds Bitcoin [BTC], XRP [XRP], Litecoin [LTC] and others for trading
Source: Unsplash

TransferGo, a London-based payment remittance service company, recently announced that they will be adding cryptocurrency trading in their app. The currencies offered at launch are Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], XRP [XRP]. This marks the first time a remittance service has added a cryptocurrency trading facility.

Notably, TransferGo is a member of RippleNet, with a partnership occurring in October last year. RippleNet is Ripple’s network of banks that utilize the company’s products to move money globally.

The unique selling proposition of TransferGo is speed, and it is claimed that the company can guarantee remittances settling within 30 minutes. They also have a userbase of 650,000, with a growth rate of 100% on a year-over-year basis.

On the launch of cryptocurrency trading services, Daumantas Dvilinskas, the Founder and CEO of TransferGo, stated:

“We’ve launched this cryptocurrency trading facility in response to demand from our user base. Our innovation is driven by empathy for our customers and our focus is wherever there’s a point of friction for them. With over 4,000 users signing up in the first few hours we can see there is a strong demand in the market for a simple and reliable investment and trading solution.”

The service in question is added to the Android and iOS versions of the TransferGo app, thus allowing users to buy and sell cryptocurrencies “within the familiar environment of the TransferGo user experience”. This is coupled with the Know Your Customer [KYC] and Anti-Money Laundering [AML] checks that are the same as those used by the remittance app to ensure transparency with regulators.



Combined with the sizeable user-base that TransferGo has, it will bring a percentage of users into trading cryptocurrencies for the first time. Moreover, as a cross-border remittance service, users can make use of both the company’s services and cryptocurrencies to send money at a lowered cost.

Jan Yakira, a cryptocurrency enthusiast, stated that this move is part of a bigger wave of market movement towards adoption. He said:

“The entry of cryptocurrencies into mainstream remittance and payment services is beginning to gain traction. While mainstream financial institutions such as banks still shy away from adoption over regulatory concerns, the small players like Wirex, Skrill and, now, TransferGo are picking crumbs off the table for profits. More interesting is the amount of exposure new people gain to cryptocurrencies, which is what we need for global proliferation.”





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
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Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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