2023-11-09 13:23

Copyrighted Image by: Reuters. Global payments processor RocketFuel Inc. announced today that it has entered a strategic partnership with Ripple to integrate its payment technology into RocketFuel's infrastructure. The collaboration seeks to modernize fiat currency transfers to merchants and partners worldwide, with a focus on user security and privacy. The platform supports various payment methods and aims to prevent data breaches. RocketFuel's one-click checkout system simplifies traditional checkout processes, fostering impulse buying. Merchants can access new sales channels through RocketFuel's services, which include pay-ins, payouts, B2B cross-border payments, and invoicing solutions. RocketFuel CEO Peter Jensen is currently attending Ripple’s Swell conference in Dubai (November 8-9, 2023), where he is discussing the evolving payments industry landscape, the increasing importance of cryptocurrencies, and Ripple's potential to revolutionize existing payment processes. The suite of services offered by RocketFuel now includes Ripple’s technology-integrated tools such as "Rocketfuel Pay-In Commerce" for facilitating crypto and ACH payments for merchants both online and at physical locations. It also includes "Rocketfuel Mass Pay-Out" for executing global bulk payments and "Rocketfuel Cross border B2B" for conducting large-scale cross-border transactions using blockchain and stablecoin technologies. Earlier today, RocketFuel disclosed its strategic alliance with Ripple to incorporate Ripple Payments into its suite of services - 'RocketFuel Pay-In Commerce', 'RocketFuel Mass Pay-Out', and 'RocketFuel Cross border B2B'. These offerings use blockchain technology to manage in-store and online crypto and ACH payments, execute global payouts in crypto or through bank transfers, and manage cross-border transactions using stablecoins to ensure market stability. This development follows RocketFuel's alliance in September 2023 with AvecPay to introduce cryptocurrency payments in Latin America. Utilizing RocketFuel's blockchain technology and stablecoins for market stability, AvecPay aimed to launch an online marketplace. This platform is designed to allow international merchants to showcase their products and conduct transactions in cryptocurrency. https://www.investing.com/news/cryptocurrency-news/rocketfuel-incorporates-ripples-payment-technology-into-suite-of-services-93CH-3228975

2023-11-09 12:30

Copyrighted Image by: Reuters. The NZD/USD currency pair experienced a rebound from its weekly lows, trading higher near 0.5930 during the Asian session on Thursday, Nov 09, 2023. The rise was attributed primarily to a weakening US dollar rather than the impact of China's mixed economic data. This data included a 0.2% yearly fall in October's Consumer Price Index (CPI) and a slightly better-than-expected 2.6% decrease in the Producer Price Index (YoY), which seemed to have no effect on the NZD/USD. The US Dollar Index (DXY), reflecting the greenback's strength against a basket of six major currencies, marked its second consecutive day of losses, trading around 105.50. These losses were influenced by downbeat US Treasury yields and increasing market uncertainty surrounding future interest rate hikes. Despite resistance against interest rate cuts, Federal Reserve Governor Michelle Bowman hinted at potential short-term rate increases. Her statement added to the prevailing market uncertainty. In contrast, Neil Kashkari, President of the Minnesota Federal Reserve, voiced concerns over the adequacy of rate hikes considering the economy's resilience. Simultaneously, the New Zealand Dollar faced pressure due to a pessimistic global economic outlook and New Zealand's significant exporter status. The Reserve Bank of New Zealand's (RBNZ) inflation report forecasted price declines due to an anticipated economic slowdown, adding further pressure on the NZD. Market participants were awaiting insights from Federal Reserve Chair Jerome Powell, who was scheduled for a panel discussion later on Thursday. His comments were expected to provide further clarity on the direction of US monetary policy and its potential impact on global currency markets. The contrasting views within the Fed between Governor Michelle Bowman and Minnesota Fed President Neil Kashkari highlighted the complexity of the economic outlook. https://www.investing.com/news/forex-news/nzdusd-rebounds-as-us-dollar-weakens-amid-interest-rate-uncertainty-93CH-3228753

2023-11-09 11:10

Copyrighted Image by: Reuters. The GBP/USD exchange rate experienced a slight rebound on Thursday despite global cautious trading and enduring market volatility. The rate appreciated by 0.4% to $1.2261 after initially dipping. This movement was influenced by the USD's strength against riskier currencies, which was tempered by dovish remarks from Federal Reserve officials. Policymakers such as Lorie Logan have advocated for a data-driven approach to monetary policy and the maintenance of steady interest rates. However, data from October revealing a slowdown in US employment and manufacturing has suggested that the broader economy is beginning to experience the effects of previous rate hikes. This development has slightly undermined the USD. The GBP has seen fluctuations due to a lack of substantial UK data and ongoing economic concerns. These concerns were heightened by Bank of England (BoE) Governor Andrew Bailey's warning about potential economic fragmentation, leaving the Pound in a vulnerable position in the absence of positive UK data. The GBP/EUR rate climbed by 0.3% to €1.1501. This occurred despite no fresh data and the BoE's hawkish stance versus the European Central Bank's (ECB) unchanged rates. Three BoE policymakers backed a rate hike last week while ECB signals no further hikes. The UK's high inflation at 6.7%, exceeding the eurozone's 2.9%, hints at potential BoE intervention; however, Huw Pill expects inflation to fall without rate hikes. The EUR weakened against the GBP as investors await Christine Lagarde's speech amidst a 0.3% drop in eurozone retail sales and Vice President Luis de Guindos' negative growth outlook. Significant future events include Lagarde's speech and tomorrow's UK GDP report, which is forecasted to show a 0.1% contraction due to elevated interest rates. https://www.investing.com/news/forex-news/gbpusd-exchange-rate-rebounds-gbpeur-climbs-amid-economic-uncertainty-93CH-3228445

2023-11-09 10:22

Copyrighted Image by: Alpha Footage John Deaton, a prominent attorney and founder of CryptoLaw, revealed a significant shift in his cryptocurrency investment strategy on Wednesday. Initially holding a portfolio primarily composed of Bitcoin (BTC) and Ethereum (ETH), Deaton has increased his investment in Ripple's XRP, reflecting his confidence in the digital asset amidst his ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). Previously, Deaton's BTC holdings were ten times more than his XRP investments, and ETH four times more. Now, he leans more towards XRP due to his belief in its potential growth. This shift seems to be emotionally driven, fueled by his confidence in a legal victory against the SEC. Deaton remains optimistic about Bitcoin's future, anticipating that its market cap will surpass that of gold. This prediction suggests a potential price surge beyond $500,000 per unit for the leading cryptocurrency. Furthermore, Deaton perceives XRP as an integral part of the rapidly growing cross-border payments sector. In 2021, customer-to-business cross-border payments reached $2.8 trillion, while business-to-business intercontinental payments exceeded $150 trillion. Already in 2023, global payment transactions have reached $190 trillion and are projected to hit $290 trillion by 2030. Deaton's increased investment in XRP stems from its potential share in this vast market. Despite this shift towards XRP, Deaton also voiced concerns over Ethereum's "regulatory advantage", critiquing Ethereum co-founder Joseph Lubin and investor Mike Novogratz for praising the SEC while condemning similar practices in other projects. He called for scrutiny of changes made to former SEC official William Hinman’s speech on Ethereum’s decentralization after Hinman’s meeting with Ethereum co-founder Vitalik Buterin. While Deaton expressed skepticism towards overly optimistic XRP price predictions, he humorously added that he would be delighted if they come true. His investment approach and legal battles against the SEC continue to shape his cryptocurrency portfolio, reflecting not only market trends but also the influence of regulatory decisions on digital assets. https://www.investing.com/news/cryptocurrency-news/deaton-shifts-crypto-strategy-favoring-xrp-anticipates-btc-market-cap-to-surpass-gold-93CH-3228347

2023-11-09 10:18

Copyrighted Image by: Reuters Dogecoin (DOGE), the meme-based cryptocurrency, is anticipated to experience a significant rally, according to projections released Thursday. However, despite the optimistic outlook, questions remain about its ability to reach the elusive dollar mark. The forecast, provided by crypto analyst Kaleo, suggests a fast-paced climb for DOGE, mirroring its pre-spring 2021 surge levels. This projection is closely tied to Bitcoin's performance, as the two cryptocurrencies often move in tandem. Currently, DOGE is trading 89.51% below its all-time high, indicating there is substantial room for growth. In the past 24 hours, Dogecoin has shown moderate volatility. The cryptocurrency gained 4.1%, with its value fluctuating between $0.074 and $0.077. This recent activity reflects the inherent volatility of the cryptocurrency market and highlights the potential for significant price swings. As of today, Dogecoin holds a market capitalization exceeding $10 billion. Its trading volume for the last 24 hours was reported to be close to $834 million, demonstrating substantial investor interest in this digital asset. Despite the positive forecast and recent gains, it remains to be seen whether Dogecoin can achieve the ambitious target of one dollar per coin. This milestone has been a point of discussion among investors and analysts alike since Dogecoin's inception. The upcoming period will be crucial in determining whether Dogecoin can sustain its rally and approach its all-time high. With its strong market presence and considerable trading volume, many will be watching closely to see how this popular cryptocurrency performs in the coming weeks. https://www.investing.com/news/cryptocurrency-news/dogecoin-poised-for-rally-still-far-from-dollar-mark-93CH-3228340

2023-11-09 10:17

Binance, a leading global cryptocurrency exchange platform, announced the addition of new loanable assets and margin pairs to its portfolio. This move is aimed at catering to the rising demand for cryptocurrency trading and increasing transaction volumes. The new loanable assets include AST, GNO, and ORDI. Alongside these, Binance also introduced Cross Margin pairs including BADGER/USDT, MOVR/USDT, ORDI/USDT, RAY/USDT, SCRT/USDT. In addition to these introductions, Isolated Margin pairs such as AST/USDT, GNO/USDT, RAY/USDT, and SCRT/USDT were also added to the platform's offerings. In a parallel development, Binance Futures launched the USDⓈ-M BADGER Perpetual Contract with 50x leverage. This allows traders to maximize their returns by leveraging their positions. The company has encouraged users to refer to Collateral Data for updated information on collateralizable assets, specific limits, and rates. These new additions are part of Binance's consistent efforts to reinforce its position as a comprehensive cryptocurrency exchange platform attracting more investors. The company continues to expand its portfolio in response to growing market demands and user needs. https://www.investing.com/news/cryptocurrency-news/binance-broadens-offerings-with-new-loanable-assets-and-margin-pairs-93CH-3228335