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June 2017

Coinbase Invests Over $1 Million into DeFi Sites

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Coinbase

Coinbase

One of the major reasons behind the rapid development of the cryptocurrency space is the presence of crypto exchanges, and Coinbase is one of the most influential exchanges in the world. On Wednesday, the company further strengthened its bets in the decentralized finance (DeFi) applications space by announcing a fresh round of investments.

Major Investment

Coinbase announced that it has decided to invest a total of $1.1 million in two separate projects through its USDC Bootstrap Fund. This is a major development for the DeFi space and for the crypto space at large. It remains to be seen how the blockchain industry reacts to it.

The USDC Bootstrap Fund was launched by Coinbase in collaboration with Circle in 2019 and is part of the Centre Consortium. The fund is looking to boost development in the DeFi sector and is investing in projects denominated in stablecoins backed by the United States Dollar. The money is donated directly to the DeFi protocols.

However, that is not all. The crypto exchange has already committed as much as $100,000 to the USDC with regards to the daily prize that is awarded by PoolTogether. The first project is Uniswap, which is an Ethereum-powered decentralized exchange that runs without the aid of an actual order book.

The Uniswap exchange has also announced that in the second quarter of 2020, it is going to launch its second version, which will allow users to complete token to token swaps directly. The other project is PoolTogether and is regarded as a ‘lossless lottery’ by those in the industry.

>> Binance Enters South Korea, Gets Approval for OkCoin

The decision to invest in these projects reflects the fact that Coinbase is determined to build a true crypto ecosystem that can thrive in the long-term. To that end, it is making certain investments, and many crypto watchers will be following the company’s next moves quite keenly.

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LiteLink Announces Launch of PerfectRoute, a Route Planning and Fleet Optimization Solution

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VANCOUVER, British Columbia, Oct. 15, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B, a key player in logistics and payment solutions, is pleased to announce PerfectRoute, a delivery route planning and fleet optimization solution for all types of vehicles designed for last-mile delivery, powered by the 1SHIFT Logistics platform.

With the global route optimization software market expected to reach US$5.07 billion by 2023, compounded with today’s increasing pressure to lower costs of transportation and logistics.

Route optimization will be provided to enterprise customers via Litelink’s flagship 1SHIFT platform, but also as a standalone offering in a simple monthly subscription format under the second brand ‘Perfect Route,’ guaranteeing the best route for any delivery to achieve the lowest delivery costs.

1SHIFT’s route and truck optimization features will be available to the mass market this quarter in 2019, which customer trials currently taking place at this time.

PerfectRoute is a true self-service SaaS offering from Litelink focused on user simplicity and immediate response of the best fit optimized route to take. To access this feature, any user can upload any number of pickup and drop-off locations, and simply click ‘Optimize’ to generate the most efficient planned route to take. The key differentiator is a ‘truck optimizer feature’ that estimates how many trucks are required to ship al customer orders minimizing wastage and cost.

“While onsite with a customer implementing our flagship platform 1SHIFT Logistics, we noticed the time and effort being spent each day manually figuring out how many trucks and customer orders were required for planned truck routes. It is clear the owners are very reliant on two critical resources and an array of manual steps,”

stated Shanila Karim, head of 1SHIFT Customer Success.

“We are very excited about the launch of our new product PerfectRoute, which will solve some of the key biggest challenges faced by last-mile delivery businesses,” said LiteLink CEO Ashik Karim. “Litelink can continue to focus on rolling out 1SHIFT Logistics to enterprise clients, and now capture even a larger market with a subscription based high value solution like Perfect Route.”

To learn more about PerfectRoute, schedule a demo of the solution or request a 14-day free trial, please visit https://1shiftlogistics.com/1shiftrouting2/ or email kent.churn@1shiftlogistics.com.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. Our route planning and fleet optimization platform PerfectRoute is designed to help last-mile delivery companies better plan deliveries with higher truck utilization.

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Ripple Signs Major Agreement with Major National Bank

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Ripple

Ripple

In 2019, XRP did not have a particularly great year despite the bull run in many cryptocurrencies, and much of the blame for this was laid at the door of Ripple. However, the company has made a range of important deals in recent times, and it signed another one on Tuesday.

Ripple for Remittances

The company signed an agreement with another big-ticket customer, and this time it is the National Bank of Egypt. The San Francisco-based blockchain company holds the highest number of XRP tokens, and many have blamed its previous actions for the depressed price. However, the story is definitely changing now.

The company revealed yesterday that it has signed a cooperation agreement with the bank. According to the terms of the agreement, Ripple is going to provide the National Bank of Egypt with more options for incoming remittances. In other words, it will give the bank another option for helping Egyptians to send money home from across the world.

It has also emerged that, by way of this new deal with Ripple, the National Bank of Egypt will become the first bank in the African nation to use blockchain technology. That being said, many will be waiting to see the sort of influence it has on the XRP price—if any.

>> Libra Vice-Chair Unconcerned By High Profile Departures

It is a significant deal for the blockchain company since the National Bank of Egypt is one of the best-regarded financial institutions in Egypt and in Africa. In addition to that, it will also open up the Egyptian, North African, and Middle Eastern markets for the blockchain company. If all goes well for Ripple with this partnership, then it could lead to bigger deals with other banks, and that is possibly one of the things that many XRP investors look forward to.

Last but not least, it has also been announced that the bank is going to use Ripple’s RippleNet to make the remittances.

Featured image: DepositPhotos © 

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Ripple (XRP) | $26 Million Moved to Co-Founder Jed McCaleb

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Ripple

Ripple

Ripple, the company that holds the highest number of XRP tokens, has been in the news for the wrong reasons over the past few weeks. Analysts and members of the XRP community have been quite vocal about the way in which the company has gone about dumping large quantities of its holding at regular intervals.

Many believe that the periodic selling of XRP tokens at large volumes has led to the poor performance of the token. XRP, which is the third biggest cryptocurrency by market capitalization, has been one of the worst performers in the market so far, and Ripple’s actions are being blamed for that.

Another Major Development

In a new development, it has emerged that the company sent XRP tokens worth $26 million to the Chief Executive Officer of Stellar, Jed McCaleb.

Now, a transfer of that nature to Jed McCaleb is always going to be controversial since he used to be the Chief Technology Officer at Ripple and over the past months, he has been responsible for dumping hundreds of thousands of XRP on a daily basis. The detail was found by a Twitter account that tracks big transfers of XRP being done by the company, and it was revealed that Ripple had transferred as many as 100,000,000 XRP tokens to McCaleb on September 7.

>> Bakkt is All Set to Introduce Bitcoin Futures in September

The company has a fraught history with McCaleb. The current Stellar CEO owned as many as $1 billion worth of XRP tokens back in 2017. After he left the company, Ripple enacted lawsuits in order to stop him from dumping his tokens quickly, and that created bad blood between the two.

While large transfers are now quite common with regards to XRP, it is important to note that the value of the token has not moved much and has largely underperformed in comparison to the market so far. CEO Brad Garlinghouse has stated that the token sales are done in order to finance a range of blockchain projects.

Featured image: DepositPhotos © akulamatiau

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