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#CryptoCorner: HK Blockchain Fund Plans Japanese Yen Stablecoin, #Bitfinex Launches Privacy Focused #Ethfinex and Saudi Arabian Bank Joins #Ripple Network

September 18th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App

 

Point Roberts, WA and Delta, BC - September 18, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

Listen to today's Crypto Corner Podcast:

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#CryptoCorner: HK Blockchain Fund Plans Japanese Yen Stablecoin, #Bitfinex Launches Privacy Focused Ethfinex and Saudi Arabian Bank Joins #Ripple Network

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Crypto Corner

Market Roller Coaster, HK Blockchain Fund Plans Japanese Yen Stablecoin, Bitfinex Launches Privacy Focused Ethfinex and Saudi Arabian Bank Joins Ripple Network

The crypto market has been a bit of a roller coaster ride in the past 24 hours, with Bitcoin (BTC) and Ethereum (ETH) both dropping yesterday to as low as $6250 USD and $195 USD respectively, but at press time having recovered to $6370 USD and $211 USD respectively. The total market capitalization fell as low as $191 billion USD, but has now recovered to $200 billion USD, which is above yesterday at the same time. Apart from the aforementioned coins, XRP surged some 17 percent in the last 24 hours to drive the market cap upward. All data is from CoinMarketCap.

Hong Kong-based blockchain fund Grandshores Technology Group plans to raise $12.7 million USD to launch a stablecoin based on Japanese Yen, according to a story in the South China Morning Post today. The company's founding partner, Yongjie Yao, said that those involved in the project are working with a mid-tier Japanese bank, but did not reveal any more details. Yao believes the stablecoin will be of interest in particular to crypto exchanges and traders. He spoke more broadly of the impact blockchain technology will have on the market:

"Blockchain will become the mainstream technology in the next three to five years. We are entering the next stage of blockchain evolution, a stage which is akin to when computer operating system was transiting from MS-DOS [disk operating system] to MS-Windows."

Crypto trading platform Bitfinex has launched an Ethereum-based exchange platform called Ethfinex Trustless. The announcement on a Medium blog post claims that Ethfinex Trustless requires no signups, deposits, withdrawal delays or sacrificing the custody of users' tokens. As such, the service is targeted at those who value improved privacy and security. Initial trading pairs are: Ethereum (ETH/USDT), OmiseGo (OMG/USDT & OMG/ETH), and 0x (ZRX/USDT & ZRX/ETH).

The National Commercial Bank (NCB) of Saudi Arabia has recently joined RippleNet, an enterprise blockchain network for the settlement of international transactions, according to an announcement. The move is expected to help the Kingdom of Saudi Arabia, as the country is "one of the largest sources of remittances in the world. Joining RippleNet connects customers of NCB to people and markets in the world that they previously had little or no access to.

Sam Mowers, Investorideas

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