The stock markets collapsed, cryptocurrencies lost up to 15%. RippleNet will use the Malaysian bank CIMB, SIX Exchange will transfer to the blockchain.
On Wednesday evening, the price of Bitcoin dropped sharply to the level of 5402.10, setting a record low of 2018. However, the very next day it rose to 5747.30, having won back part of the fall. This happened against the background of global sales of other exchange-traded assets.
Experts cite several reasons for what happened. They are reminiscent of hardfork Bitcoin Cash, which was scheduled for November 15th. It is not excluded that this was a kind of manipulative action of one of the major players. It is known that the price on the BitMEX trading platform first fell, which pulled all other markets along with it. The total capitalization of the cryptocurrency market at the peak of the minimum fell to $ 180 billion.
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Another lending institution connected to the RippleNet platform. This time it was among the five largest banks in Malaysia CIMB. The purpose of cooperation is to improve the quality of services by increasing the speed of payments and reducing costs.
The bank already has its solution, but it wants to expand the possibility of conducting instant transactions in several regional areas. However, Ripple does not say what kind of product the new partner will use. Not all of them are based on the XRP token. Most recently, the head of Ripple Brad Garlinghouse announced that the adoption of cryptocurrency regulation rules will increase their popularity among ordinary and corporate users.
The SIX Swiss Exchange is planning to launch a blockchain-based trading platform in mid-2019. In the transition period, it is planned to use two methods of making payments at once - traditional and digital.
The head of SIX, Thomas Zeeb, said that now cryptocurrency exchanges began to create serious competition to classic sites, and they are forced to look for new solutions. However, it is not yet possible to fully switch to the SIX blockchain. There are some legal aspects that prevent this from happening. Therefore, the site is awaiting clarification from FINMA, the Swiss financial regulator.