Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Ripple is the catchall name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network which requires various parties to participate in validating transactions, rather than any singular centralized authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
Japanese banking giant Shinsei is offering USD $60 in XRP or BTC to attract new customers in a rewards program.
Shinsei Bank, a diversified Japanese financial institution offering a range of financial products and services for both institutional and individual customers, launched a new program to reward customers with cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange coupons for opening an account or setting up a yen term deposit with the bank.
In a press release issued, Shinsei noted that it had chosen to offer the rewards inRipple (XRP) o Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) in partnership with SBI VC Trade.
According to the bank, new and existing customers can earn up to 8,000 Japanese yen (USD $60) in XRP o Bitcoin for performing the stipulated services, and is in effect from this week until October 31, 2022.
According to plan, new users will be rewarded when opening an account, while existing customers have room to be rewarded with cryptocurrency exchange coupons. Customers selected through a lottery system will need an SBI VC account to redeem the coupons.
“Cryptocurrency exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. ticket giveaway campaign worth up to 8,000 yen for all customers who open a new account an account is essentially a whose purpose is to track the financial activities of a specific asset/ and make prescribed transactions” said the bank.
Notably, this is the first Japanese bank to opt to offer crypto rewards for its program that has been running for years. The addition of cryptocurrencies is seen as a bid or draw to attract more customers considering the growing popularity of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets.
It is worth noting that the lender chose to XRP even though the parent company of the token,Ripple, has been embroiled in a legal dispute with the U.S. Securities and Exchange Commission (SEC) . However, as he tells it Finbold, Ripple has established a reputation in Japan and across Asia as it pushes for its technology to drive cross-border payments. For example, the expansion ofRipple in Asia has led to the company partnering with Japanese financial giant SBI Holdings.
In addition, the incorporation of XRP into the rewards program occurs whenRipple revealed that more financial institutions are expected to incorporate crypto into their services. Recently,Ripple noted that about 76% of financial institutions around the world intend to use cryptocurrencies in the next three years.
The information was shared by various media outlets and in Twitter:
— Watcher.Guru (@WatcherGuru) August 11, 2022
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