Crypto Rebound: Bitcoin at $6800, Ethereum nears $500, Ripple at $0.487 ZenCash [ZEN] Super Node Beta to be released soon DASH Announces Latest Version of v12.3 Network Chinese tech giant ‘Baidu’ set to launch rewards program for ‘Totem’ OmiseGO [OMG] partners with Ethereum [ETH]’s client, Status Bitbns becomes the first platform for EOS RAM trading Bitcoin [BTC], Ripple [XRP], Ethereum [ETH] trading exchange Bittrex partners with Invest.com Stellar Lumens [XLM] now has a universal marketplace called StellarX Western Union files new patent with reference to Bitcoin [BTC] and Litecoin [LTC] Bitcoin [BTC] transaction cost will go up: Global Data’s ‘Thematic Research’ Europe’s biggest ETF trader enters the crypto-world with Ethereum [ETH] and Bitcoin [BTC] ETNs Monero [XMR]: Reddit user finds vulnerability in seed code Ripple’s Emi Yoshikawa: “We are providing solutions to help banks become better” Coinome adds XRP trading pairs with Bitcoin Cash [BCH], Litecoin [LTC] and DigiByte [DGB] The Japanese market is being specifically targeted by Ripple, as seen from their partnership with SBI Holdings and the launch of SBI’s Virtual Currencies trading platform with XRP as an exclusive at launch. slinuxuzer on XRP Chat Forums claims to have a theory that explains Ripple’s “very specific strategic reason” for entering the Japanese market.
This is illustrated in his post on the forums, wherein he starts by establishing some basic facts about the Foreign Exchange [Forex] market. The Forex market is one of the biggest markets in the world, with the global market transferring upwards of $5 trillion every day.
This includes both the interbank and over-the-counter markets, which includes spot trading, forward trading, futures and many others. The part of the market that deals in Japanese Yen [JPY] has a share of about 21%, which translates to 950,000 billion every day.
It is the third biggest currency being traded in the market, after USD and EUR. slin makes the point that forex markets are subject to low regulation, with profit margins for brokers being razor thin.
Moreover, forex transactions usually take about 2 days to complete, with some corridors finishing it in one day. SBI Group is one of Japan’s biggest banking consortiums that represents about 80% of all deposits done in Japan. Read more from ambcrypto.com…
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