Crypto Corner: Visa (NYSE: $V) to Buy #Ripple Partner and Payments Firm Earthport, Bakkt Raises $182 Million and Time Publishes Article 'Why #Bitcoin Matters for Freedom'
December 31st #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - December 31, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: #Visa (NYSE: $V) to Buy #Ripple Partner and Payments Firm Earthport, Bakkt Raises $182 Million
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Visa to Buy Ripple Partner and Payments Firm Earthport, Bakkt Raises $182 Million and Time Publishes Article 'Why Bitcoin Matters for Freedom'
Stocks discussed: (NYSE:V) (NYSE:ICE)
On Friday Reuters reported that Visa (NYSE:V) had plans to buy Ripple partner and cross-border payments firm Earthport plc for £198 million. Mati Greenspan, Senior Market Analyst at social trading platform eToro, commented on the possibility of XRP adoption by Visa in relation to the purchase.
For those of you who are not familiar, Earthport is a gigantic cross-border payment processor and a long-term partner of Ripple Labs. The $250 million offer that Visa made to buy them out was very generous indeed and represents a mark up of about 300% on Earthport's market price per share.
This high profile acquisition has certainly increased speculation that Visa might be planning on implementing XRP into their global payments network but for some reason, this hasn't shown up the price of XRP as it continues to follow the rest of the crypto market lower.
Sure, it's true that we still don't know what exactly Visa is planning to do with Earthport or if their partnership with Ripple will play any role whatsoever in future plans, let alone XRP. But still, this type of news, had it been delivered during the bull run would certainly have some people buying.
Bakkt, a crypto exchange created by the New York Stock Exchange's parent company Intercontinental Exchange, Inc. (NYSE:ICE), has raised $182 million in a funding round. The news was announced in a Medium post this morning by Bakkt CEO Kelly Loeffler. Loeffler commented on the progress made in the crypto space in 2018, which she considers to be concealed by the much-reported price volatility.
"Notably, 2018 was the most active year for crypto in its brief ten-year history. This was evidenced by rising investment in distributed ledger technology and digital assets, as well as by blockchain network metrics such as daily bitcoin transaction value and active addresses. Yet, these milestones tend to be overshadowed by the more narrow focus on bitcoin's price, which has been seen by some, as a proxy for the potential of the technology."
Time magazine recently published a piece titled: "Why Bitcoin Matters for Freedom" which argues that the decentralized structure of cryptocurrencies has and can further act as a bulwark against authoritarian regimes in the world. While conceding that the technology may in its infancy, the piece contends that it will become easier to access and use in the near future.
To be sure, Bitcoin is still a nascent technology, and doesn't offer cutting-edge usability, speed, or privacy. But engineers are constantly working to bring those attributes to Bitcoin by building better apps and on-ramps, upgrading the base protocol, and creating new second layer technologies like the Lightning Network, which could eventually mask and dramatically scale the number of possible bitcoin transactions per second. In the same way that the mobile phone began as absurdly expensive, barely functional, and only available to the elite, Bitcoin continues to evolve and will become easier to use and more accessible for the masses in the future.
Sam Mowers, Investorideas
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