Santander Releases OnePay FX App

On April 10, Santander released OnePay FX Application, which allows the users to make regular international payments
10 April 2018   1540

In February we have reported about Banco Santander announcing the launch of a mobile payment application based on the technology developed by Ripple.

On April 10, Santander released OnePay FX Application, which allows the users to make regular international payments of up to £10,000 a day in euros to all nineteen Eurozone countries; and US dollars to the USA.

OnePay FX AppOnePay FX App Screenshots

OnePay FX allows the users to:

• Either enter the amount in Pounds to send or the amount of Euros or Dollars to be received
• Always see the final amount that will be received
• Store the details of payments so it’s easier to pay them again 
• See all the payments made using the app
• Send payments to individuals rather than companies 

We will not charge you a transaction fee for using OnePay FX. However, the payment may be subject to receiving bank fees if you send a payment in Euros or Dollars to an account which uses a different currency. If we introduce a transaction fee in the future, we’ll inform you of the fee before you complete the transaction. 
 

OnePay FX Description

The users who would like to use OnePay FX will need the Santander Online or Mobile Banking log on credentials and a Santander debit card registered with Apple Pay.

It was indicated previously that the payment application developed by Santander and Ripple will appear in the first quarter of 2018, and OnePay FX is likely to be that very app. Nevertheless, the App Store description of OnePay FX app does not include any mentions of Ripple technology.

New Morgan Creek Fund to Exclude Pre-Mined Crypto

Ripple and Lumen won't be included to Morgan Creek Digital Asset Index Fund
28 August 2018   354

Morgan Creek, which manages $ 1.5 billion in assets, launched its own crypto fund, the Morgan Creek Digital Asset Index Fund, but refused to include some large crypto-currencies. This is reported by Forbes.

For example, in the new fund, which was managed by the American company Bitwise Asset Management, such cryptocurrencies as XRP, developed by the Ripple, and Lumen (XLM) of the Stellar project, are not represented, as their release was carried out through the so-called pre-goal.

If there’s a central party that owns 30% or more of supply then we withhold those from the index. Because we think that introduces a lot of additional risk that may not be there if it was a more decentralized network.
 

Anthony Pompliano
Partner, Morgan Creek Digital 

The index fund includes a set of 10 major cryptocurrencies weighted by market capitalization, which is rebalanced monthly. There are some other requirements, such as the presence of custodial solutions and a restriction on the concentration of trade.

When forming the fund, the risks of centralization of crypto assets were taken into account because of the increased probability of manipulating their prices and possible issues of regulators if such assets were recognized as securities.

We’re fully prepared and feel we’ve built something that institutional investors will find attractive regardless of how the assets are categorized. Whether they’re securities or not.
 

Anthony Pompliano
Partner, Morgan Creek Digital 

According to the co-founder of Bitwise co-founder Hunter Hosley, the main difference between the Morgan Creek Digital Asset Index Fund and the HOLD 10 fund launched by his company is the availability of the first inspection committee, which included Morgan Creek CEO Mark Yusko, Pompliano and Bitwise Research Department head Matt Hogan.

Hosley said that the decision of the committee to limit cryptocurrencies with pre-currency is caused by two main factors: fears about the opportunities for fraud, which are possessed by large holders of assets, and the doubts of regulators for which a high degree of centralization is an additional basis that allows to recognize crypto currency as a security.

The Morgan Creek Digital Asset Index Fund is already available for institutional and accredited investors. Hosley promised that the fund will be audited by Cohen & Company from this fall, the results of which will be published on an annual basis. The first report will be submitted in early 2019