Moneynetint Joins Ripple’s (XRP) Instant Payment Network

Another major signing has been recorded by Ripple (XRP) as UK e-money outfit Moneynetint notified that it has partnered with Ripple to use the firms blockchain-based instant payments rails.

Moneynetint has completed the deployment of RippleNet, and has also signed partnership agreements with two other networks, enabling it to process payments in a decentralised manner.

Speaking on the development, Nadeem Ladki, director, account management at Ripple, says: “By leveraging Ripple’s blockchain technology, Moneynetint will now be able to simplify and reduce the FX conversion rates for their customers, increase the speed of settlement and offer services to new markets that would otherwise have been too difficult or too costly to reach in the past.”

Coinbase Opens Office in Ireland as Part of Brexit Contingency Plan

San Francisco-based cryptocurrency exchange Coinbasehas opened a new office in Dublin, Ireland, according to announcement published Oct. 15.

The Irish Minister for Financial Services and Insurance Michael D’Arcy commented on the exchange’s expansion:

“I am delighted that Coinbase is opening an office in Dublin. This decision highlights the competitive offering and attractiveness of Ireland for financial services.”

Ireland itself has gained a reputation in Europr as a hub for the tech industry, due in part to its low corporate taxesand proactive measures to bring business to the country.

In May, academics at the National University of Ireland Galway urged  the government to promote blockchain in the country, arguing that the technology’s potential impact on economic growth could transform business and government operations.

korean ICOS

South Korean Financial Regulator Reaffirms Negative Stance on ICOs and Crypto

The chairman of Korea’s Financial Services Commission Choi Jong-koo has reaffirmed his negative position on digital currencies and Initial Coin Offerings (ICO’s) Business Korea reported Oct. 11. Choi spoke at a parliamentary audit session of the commission held at the National Assembly.

This August, Korean lawmakers, including participants from government ministries, returned to the cryptocurrency issue, focusing on repealing the country’s ICO ban. Choi said:

“Many people say the Korean government should allow ICOs, but ICOs bring uncertainty and the damage they can cause is too serious and obvious. For these reasons, many foreign countries ban ICOs or are conservative towards them.”
South Korean cabinet ministers agreed to exclude all sale and brokerage of digital assets based on blockchain technology from venture business classification.