In a “big milestone” for Ripple, the first two U.S. banks are announcing their use of the protocol.
AstroPay launches a new, licensed money service business based on the Ripple protocol.
Bitcoin finally crossed the $500 threshold, and it looks as if it may be there to stay.
Bitcoin just broke $1,000, triggering new questions of whether it’s a bubble — or if you should buy some. Here’s a round-up of the latest hype, including what marketers and financial types are saying.
Bitcoin is more portable and easier to divide than a gold bar. That’s part of the reason the Winklevoss twins think one Bitcoin will be worth $40,000. It’s possible — but so is the prospect of Bitcoin getting wiped out by a competitor like Ripple.
Ripple Labs — formerly known as OpenCoin — has pulled in $3.5 million in fresh investment, bringing the total to $9 million. New investors include Core Innovation Capital, Venture 51 and Camp One Ventures, while existing investor IDG Capital Partners is back for more. Earlier investors include Google(s goog) Ventures and Andreessen Horowitz.
Ripple is a decentralized currency exchange that’s been riding the Bitcoin hype wave while not actually being dependent on Bitcoin – it handles traditional currencies too, and uses its own virtual currency (XRP) for transaction tokens. Apart from the name change, Ripple recently completed its open-sourcing and released an iOS(s aapl) app for monitoring XRP prices.
Bitcoin-focused entrepreneurs will be the ones using innovation to turn Bitcoin from a controversial experimental currency into a powerful financial game-changer — and many of those innovations could come out of London.
Bitcoin has had a rough few months. But three news items in the last week bode well for the currency’s liquidity — and its legitimacy.
The Google-backed distributed currency exchange, which is part of a new wave of international financial technology outfits, is trying to make it easier for people to pay others in the crypto-currency Bitcoin.
Ripple is a distributed exchange that can be used for Bitcoin and other currencies, too. Google Ventures and IDG’s investment is the latest in a recent string for firms handling virtual currencies.