Connect with us

Blockchain

MoneyGram Deepens African Presence with Airtel Partnership

The company will facilitate international transfers for 19 million Airtel Money customers.

Avatar

Published

on

MoneyGram, a major global remittance company, has partnered with Airtel Africa to facilitate the international transfers directly to the telecom operator’s payments application.

Announced on Friday, this partnership will affect 19 million users of Airtel Money, one of the widely used mobile payment applications in the continent.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

“This partnership with Airtel will enable millions of consumers instant access to our global platform to receive money from over 200 countries & territories without having to even step outside,” John Gely, Head of MoneyGram Africa.

While this strategic partnership will ensure instant money transfers on the mobile as well as strengthen MoneyGram’s presence in the continent. 

Suggested articles

Stock Trading Whiz Timothy Sykes Commits $1.6m to Humanitarian ReliefGo to article >>

“We’re excited about how this customer-centric partnership with Airtel will expand our mobile wallet capabilities, build upon our strong momentum in Africa, and further accelerate our digital growth across the globe,” Gely added.

Adopting blockchain

Meanwhile, MoneyGram is betting big on decentralized technology to make the cross-border transferred fast and efficient. The company received a significant investment from blockchain payments company Ripple which now holds around 10 percent of MoneyGram’s common stocks.

Earlier this year, remittance Western Union also approached MoneyGram with a takeover deal, but that did not see any light yet.

“We are delighted to work with MoneyGram to provide millions of customers with fast, secure, and convenient options to receive and send money as well as access their funds from a vast distribution of exclusive kiosks, agents and branches at their convenience,” Airtel Africa CEO Raghunath Mandava said.

“This is a significant step forward in our ambition to transform lives through greater financial inclusion and empowerment across the continent. Maximizing access to global remittances is a key part of this – even more so given the disruption and economic hardship faced by many because of the COVID-19 pandemic.”

Blockchain

Cardano long-term Price Analysis: 29 November

Avatar

Published

on

Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice

Cardano recorded a stark surge in its price, despite its drop of 30% following Bitcoin’s correction on the charts. Altcoins are the ones that suffer the most due to Bitcoin’s volatility and the same has been true in ADA’s case.

However, what’s different is that Cardano’s bounce since the drop – the 30% drop – was almost fully retraced over the next 2 days. This underlined the strong buyback for ADA, one that was backed by a good volume surge on the charts.

At the time of writing, ADA’s outlook seemed 50-50. The cryptocurrency’s price was just above the 61.8%-Fibonacci level and could go either way.

Cardano 4-hour chart

Source: ADAUSD on TradingView

The 4-hour chart had Fib extensions, the moving averages, and indicators to it. While there was no pattern to it, ADA’s chart seemed eager to surge higher. A bounce from the 61.8% level could take ADA higher. However, failure to respect this level could push ADA down to the 50% level, which was at $0.1442.

Rationale

Since the odds seemed equally skewed, considering ADA’s correlation with BTC might help break it. At press time, the 60-day correlation between ADA and BTC had surged from 0.276 to 0.50.

Such a stark surge in correlation meant that ADA will promptly follow where Bitcoin goes. Since Bitcoin did show a bearish outlook, we can expect ADA to head south as well.

Additionally, there was the confluence of moving averages 50, 100, and 200. There hadn’t been a reversion to the mean between the price and these MAs. Hence, this supported the bearish scenario.

The OBV indicator showed a good surge in volume for the second wave, however, it still seemed to be lower than the previous surge. The RSI was testing the overbought zone yet again. A failure at this level would be higher, hence, a short position will make sense.

Levels to look out for

Entry: $0.162438
Stop-loss: $0.173178
Take-profit: $0.144140
Risk-to-Reward: 1.7

Source: https://eng.ambcrypto.com/cardano-long-term-price-analysis-29-november

Continue Reading

Blockchain

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Avatar

Published

on

  • The San Francisco-based payment protocol has filed a document on Friday with the US Securities and Exchange Commission (SEC). It reads that Ripple Labs has entered into an agreement with MoneyGram, which entitles Ripple to sell up to 4,000,000 shares of common stock.
  • Ripple’s option to sell these shares will expire “upon the earliest of March 31st, 2021, the time at which the maximum amount shall have been sold, or the occurrence of certain other customary events affecting the issuer.” 
  • CryptoPotato reported last year that Ripple and MoneyGram announced a strategic partnership. The initial term of the agreement was for two years. Ripple had agreed to provide a capital commitment amounting to $50 million in exchange for equity through the two-year period.
  • As per the SEC filing, Ripple owns 6.22 million shares of the giant money transfer company (or 8.6% of shares outstanding). However, the blockchain company has a warrant to buy up to another 5.95 million shares, amounting to a total equity position of 12.2 million shares or 17% of MoneyGram’s shares outstanding).
  • With the initial investment in 2019, Ripple purchased the MoneyGram shares at 4.10 per stock, which was a significant premium to the market price. 
  • Nevertheless, MoneyGram’s stocks (MGI) have surged in 2020, closing Friday’s session at $7.42. As such, Ripple can cash out with an 80% profit, despite the initial premium.
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/ripple-plans-to-cash-out-33-of-its-moneygram-stake-with-a-significant-profit/

Continue Reading

Blockchain

South Korea To Postpone Previously Planned Crypto Income Tax

Avatar

Published

on

Lawmakers in Korea are planning to postpone a recently considered tax on crypto assets profits. Reports say the tax rule delay will be about three months – instead of October 2021, January 2022.

The New Crypto Income Tax Rule To Wait Until January 2022

According to a recent media report, the South Korean congress plans to put off the recently considered cryptocurrency income tax rule. A planning and finance committee of the National Assembly has issued a report, which proposes the necessity of implementing the crypto income tax rule from at least 2022.

A few months ago, in July, a report stated that South Korea’s Minister of Finance and Economy believes that the country should come up with a tax on cryptocurrency trading and investing. Back then, he added that South Korea has been in discussion with other countries about introducing a new digital law.

In July 2020, the country’s Ministry of Economy and Finance amended its tax code, where it included the plan for charging residents a 20% tax on gains from cryptocurrency trading, which are worth more than 2.5 million Korean won (about $2,000).

Lawmakers in the National Assembly are to approve the Government’s plan, which was to carry into effect the cryptocurrency income tax rule from October 2021.

Reason For The Delay – Time Is Tight

As per the media report, the reason for the postponement of the crypto tax law is based on some concerns, raised by local crypto exchanges. They have claimed the lack of time to build their proper tax reporting system and infrastructure, needful for the process to begin.

The so-called “Specific Financial Information Act” would be enforced from March next year, so crypto exchanges have to complete the necessary reporting system by September 2021 for verifying their real names of deposit withdrawal accounts.

As CryptoPotato reported, South Korea announced the planning of the crypto income tax in June this year. The Asian country went through some different views on how and whether it should tax profits from cryptocurrency. Firstly, at the beginning of 2020, the Ministry of Economy and Finance did not consider that digital asset trading gains as taxable income. A month later, another local report said the Ministry believes that the nation could start label cryptocurrency trading profits as “other income.”

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/south-korea-to-postpone-previously-planned-crypto-income-tax/

Continue Reading
Blockchain4 days ago

PayPal Reportedly Restricted a User’s Account for Trading Cryptocurrency

Blockchain3 days ago

South Korean crypto market records more trades in Altcoins

Blockchain3 days ago

Wrapped- DGLD brings Swiss vault held Gold to Ethereum

Blockchain18 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain3 days ago

Libra Hired New Payments Subsidiary General Counsel: Report

Blockchain2 days ago

Digital Euro: German finance minister urges ECB to accelerate its CBDC development

Blockchain17 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain5 days ago

Lattice and DEX Alternatives that Counter CEX Practices

Blockchain17 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain4 days ago

This upcoming 45 billion token airdrop is one of the reasons why retail is pumping XRP

Blockchain5 days ago

Verge Price Prediction – How High Will XVG Price Reach in 2021?

Blockchain16 hours ago

Bitcoin Price Prediction: BTC/USD Resumes Upside Momentum, Struggles to Break Above $18,000 Price Level

Blockchain4 days ago

How To Buy Ethereum With PayPal

Blockchain4 days ago

The FBC Fund Has Invested in Vectracoin

Blockchain18 hours ago

Ripple price prediction: XRP to hit $0.67 next, analyst

Blockchain17 hours ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain17 hours ago

Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC

Blockchain2 days ago

Bitcoin Worth $3B from PlusToken Ponzi Scam Seized by Chinese Authorities

Blockchain15 hours ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain15 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain4 days ago

Market Analysis Report (25 Nov 2020)

Blockchain4 days ago

American Investors Given 14 Days to Get Off Binance

Blockchain15 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain4 days ago

Tron Price Prediction – Could 2020 Be the Year of the TRX?

Blockchain4 days ago

Ripple price prediction: XRP to move short towards $0.45

Blockchain5 days ago

BitMEX Founder’s Charges Highlight Risks for DeFi

Blockchain3 days ago

Yes, You Can Spend Your Bitcoin This Black Friday

Blockchain3 days ago

Yearn. Finance Price Analysis: Spike in Buying Pressure Could See YFI Prices Soar To $25k

Blockchain3 days ago

$100M Liquidated From Compound Following Flash Loan Exploit

Blockchain16 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain14 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain5 days ago

Coinbase, Citing Regulations, Ends Margin Trading Services

Blockchain5 days ago

Coinbase Pro Ends Margin Trading Services

Blockchain18 hours ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain16 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Market Analysis Report (27 Nov 2020)

Blockchain15 hours ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain15 hours ago

Bitcoin Price Prediction: BTC/USD Back Above $17,500 Level as the King Coin Recovers

Blockchain5 days ago

Kraken Daily Market Report for November 24 2020

Trending