Ripple confirms Сhina expansion plans

Ripple confirms its plans to enter one of the world's biggest markets
16 August 2017   2445

The San Francisco blockchain startup Ripple address rumours about its Сhina expansion plans, CoinDesk reports. 

Long story short: yes, the blockchain company is planning to set up operations in China, but no, it's not doing so with the help of one of the region's e-commerce giants Alibaba.

Emi Yoshikawa, Ripple's director of joint venture partnership, commented on the situation:

"China is a key market for a global payments network, which is why we are looking to build a presence there. Total cross-border payment value involving China is $5 trillion annually, and the large Chinese e-commerce market currently lacks a highly efficient and low-cost solution."
 

Emi Yoshikawa
Ripple's director of joint venture partnership

Despite the fact that Ripple has added 10 new financial institutions to its blockchain network, including MUFG in Japan, BBVA in Spain and SEB in Sweden, membership by Chinese firms has so far been absent.

Thus, it appears it will have to keep working on adding a big name from China to that impressive list of collaborators. Ripple also put to rest speculation that Alibaba was already running a validator node on the Ripple network, according to CoinDesk:

Alibaba (the company) is not running a validator.
 

Emi Yoshikawa
Ripple's director of joint venture partnership

Images in the post showed a node that appeared to be operating in Hangzhou, China, with an address linking it to Alibaba Advertising Co., Ltd, which led some to believe Alibaba would help Ripple maneuver its way into the country, though a Ripple spokesperson said such an effort is not in the works. 

Boerse Stuttgart to Launch Crypto Trading Platform

SolarisBank has a license to provide banking services in Germany and will become the banking partner of the exchange
13 December 2018   82

In the second half of 2019, the second largest stock exchange in Germany, the Börse Stuttgart Group, with the support of fintech company solarisBank, will launch a platform for cryptocurrency trading.

The official press release notes that solarisBank has a license to provide banking services in Germany and will become the banking partner of the exchange.

At the initial stage, the platform will support Bitcoin and Ether, and in the future, various tokens that will produce its own ICO-service of the exchange and will also be available in secondary markets.

Access to the trading platform will be available to both retail and institutional traders, and it will differ little from the existing securities trading platform.

In addition, the Boerse Stuttgart Group is awaiting approval by the regulator for the launch of a multilateral trading platform for cryptocurrencies, which will allow to compare the applications of buyers and sellers using electronic systems.

In April of this year, Sowa Labs, the Fintech division of the Stuttgart Stock Exchange, reported on the work on the Bison application for cryptocurrency trading. Its launch was expected in September, but so far has not yet taken place.

SolarisBank is also a partner of the Bitwala blockchain-start-up, which on the eve announced the launch of its updated cryptocurrency service offering users a single bank account with support for Bitcoin and Fiat.