Binance.US Calls XRP 'Future of Banking Remittance Services', Uses Hashtag '#XRPTheStandard'

Two interesting XRP-related developments have taken place in the last 24 hours: (1) the popular non-custodial cryptowallet wallet BRD is adding support for XRP; and (2) Binance.US has added support for XRP/USD trading to its mobile app.

BRD Wallet Adding Support for XRP

On 11 October 2019, BRD announced that it had formed a strategic partnership with Ripple.

There were four reasons for BRD's enthusiasms about this partnership:

  • The fact that "Ripple has one of the largest and tight-knit communities."
  • The fact that the Xpring SDK makes it possible for "developers to easily integrate XRP in their apps."
  • Ripple's support for BRD's vision to make their wallet "the cheapest and easiest place to buy XRP."
  • BRD was "impressed with the adoption of XRP for real use cases around the remittance, payments and cross-border banking initiatives."

As part of this partnership, Ripple said that Xpring would be investing $750,000 into BRD, and Ethan Beard, Senior Vce President of Xpring, called BRD “one of the oldest and most respected” crypto wallet providers:

The BRD team has helped consumers on-ramp $6 [billion] worth of traditional currencies into digital currency, making them an ideal partner to continue the proliferation and adoption of cryptocurrencies like XRP to solve real-world problems.

Then, on Wenesday (February 12), roughly four months after that announcement, Ripple had more to say about BRD. 

In a post published on Ripple's "Insights" blog, Ripple said that BRD -- "the fastest growing consumer crypto wallet in the world, with more than 3 million users in 170 countries" -- is "now adding support for XRP to its wallet" (first iOS and then Android).

BRD Co-Founder Aaron Voisine stated that "XRP will be one of the first currencies in BRD’s new Blockset product, an enterprise-grade API and hosting solution for blockchain data."

According to Ripple, Blockset is "envisioned as a high-uptime, high-availability SaaS-like service for banks and other crypto businesses that need access to Bitcoin, XRP and other blockchain data—but who find it cost-prohibitive or too difficult to maintain on their own."

Binance.US Adding XRP Support to Its Mobile App

Also, on the same day, we found out via a tweet from Binance.US, Binance's trading platform for customers based in the U.S., that it was adding support for XRP -- which it called "the future of banking remittance services" -- to its mobile app. What made this tweet even more special was that it used the beloved hashtag "#XRPTheStandard":

Binance.US, which was launched in September 2019, is a digital asset exchange that is "powered by matching engine and wallet technologies" licensed from Binance but is operated by San Francisco-based BAM Trading Services.

According to data from CryptoCompare, XRP, which is currently the top daily gainer (vs USD) among the top 30 cryptoassets (by reported market cap), is trading at $0.3142, up 8.61% in the past 24-hour period:

XRP-USD 24 Hour Chart on 13 Feb 2020.png


Featured Image Courtesy of Binance.US

Ethereum Co-Founder Tells Binance CEO Crypto Can Do More Than Reform Money

Ethereum co-founder Vitalik Buterin has told Binance CEO Changpeng Zhao that cryptocurrencies can do more than just “reform money,” adding the crypto community should expand beyond the finance mentality.

In a tweetstorm, the co-founder of the second-largest cryptocurrency by market capitalization argued that some of the most popular narratives in the cryptocurrency space do not apply to this year’s crisis. Per Buterin, while Bitcoin was created n the aftermath of a global financial crisis in 2008, this year we’re dealing with a “virus crisis,” a crisis related to epistemology, and one of “overbearing policing.”

As a result, he said, the narrative bitcoiners user surrounding inflation is not the best one to use right now, taking into account that while the Federal Reserve’s balance sheet has been growing, inflation isn’t.

Buterin added, pointing to the March crash in equity markets and in the cryptocurrency space, that Bitcoin and other cryptos are also not uncorrelated to traditional assets, as at the time both dropped significantly. While Bitcoin has since recovered to give investors positive returns YTD, the S&P 500 has been struggling to climb back up to its highs.

Nevertheless, Buterin argued that it is time for the cryptocurrency community to understand “finance is relatively less important this decade than it was in the last decade,” and adjust to this new reality. The co-founder of ETH added his cryptocurrency already has various applications that go beyond finance, including governance, decentralized communities, censorship-resistant publishing and communication, and more.

Per his words, stablecoins have succeeded in the space because users are not trying to get away from the U.S. dollar, but are instead moving into the cryptocurrency environment to have more options on what they can do with their own money.

He then pointed to a tweet from Binance CEO Changpeng Zhao arguing “Bitcoin is the peaceful protest,” and claimed that “reforming money is not sufficient” and the crypto community needs to expand its mentality.

Buterin went on to say that 2016-.2020 is a “period of ideological realignment. Many old ideologies and coalitions are dying, and many new ones being born. The hills and valleys on the battlefields are shifting.”

Featured image via Unsplash.