IBM’s Stellar-powered global remittance platform now has six banks on board. Today, the tech giant announced World Wire will power payments and foreign exchange services across 72 countries.“World Wire provides a more straight-through model for cross border payments using the Stellar protocol that makes money transfers point-to-point in lieu of the complexities of conventional correspondent banking. It reduces intermediaries and allows users to accelerate settlement time often in seconds by transmitting monetary value in the form of digital assets, commonly known as cryptocurrencies or ‘stablecoins.’ This simplified approach improves operational efficiency and liquidity management, streamlining payment reconciliation and reducing overall transaction costs for financial institutions.”
Cryptocurrency market data platform CoinMarketCap has added a new metric to their site for measuring the fundamentals of cryptocurrency projects.The new rating system dubbed the Fundamental Crypto Asset Score (FCAS) measures cryptocurrency projects “health” by considering user activity, developer behavior, and market maturity. Basically, the service provides insight into the growth and development of a project: “We intake raw blockchain data across relevant projects and parse them internally. Once we clean, analyze, and recreate the raw data elements, we combine them with market data gathered from various sources to inform our models……..
Over the last three years, the number of cryptocurrency ATMs has increased by 700%. This is indicated by data from the DRIVE Markets exchange. According to the company’s research, on January 1, 2016, 501 automatic teller machines for digital coins were in operation, and in 2019, the figure has reached 4,128. Experts believe this trend is related to the growing popularity and confidence in the crypto industry and the simplicity and accessibility of the devices compared to digital assets exchanges…………….
Although it has been a sketchy year for crypto in terms of price fluctuations, the number of cryptocurrency ATM machines in the world has doubled in 2018 to over 4,000. Crypto prices might be up and down quicker than a manic depressive, but wider adoption gets closer and closer. The figures come from data published by the crypto analytics firm Data Light and show a massive upward trend in the installation of cryptocurrency ATM machines this year. One of the most startling figures to come from the Data Light statistics is that six cryptocurrency ATM machines were installed per day on average in 2018. One of the main ingredients of wider crypto integration and adoption is the availability of crypto for the masses, and that is exactly what the increase in ATMs shows. Read more……