A move to make Ripple XRP the official cryptocurrency of the 2020 Tokyo Olympics is gathering momentum.
A petition recognising XRP could solve the problem of foreign currency exchange at major international events started 10 months ago – but has gone viral in the past few days.
More than 10,000 XRP supporters have signed up with the number growing each day.
The petition starter, Ken Takahashi wants the International Olympic Committee to adopt XRP for the games in Japan.
“While this global event presents great cultural and economic opportunities, hosting countries also face many challenges concerning infrastructure, transportation and payment systems,” he said.
“As tourists stream into the country, demand for the local currency skyrockets, causing long lines at currency exchanges, as seen at past events like Beijing 2008 and Rio de Janeiro 2016. Confusing exchange rates and language barriers further complicate the problem.
“We believe that the fast transaction times and security of Ripple Lab’s XRP cryptocurrency would be a great contribution towards solving this problem.”
Crypto firm snaps up crowdfunder
Crypto firm Circle has snapped up US crowdfunding site SeedInvest in a deal of undisclosed value.
SeedInvest is one of America’s leading equity start-up funding platforms with 200,000 investors and licences from the Securities & Exchange Commission and broker-dealer regulator FINRA.
Circle plans to develop new services to fund businesses with cryptocurrencies.
“Circle’s vision is one of an open, global and connected digital economy built on crypto assets and blockchain infrastructure. A critical element of realizing this vision is building new ways for businesses, and ultimately individuals, to use crypto assets to more efficiently raise capital, manage investors and provide liquidity,” said Circle in a statement.
“Furthermore, Circle aims to continue to raise the bar for the crypto industry by embracing securities regulation as it applies to crypto and paving the way for security tokens.”
Misleading Bitcoin adverts pulled
Crypto Bank Global has fallen foul of advertising standards in the UK and must pull any ads implying Bitcoin and other cryptocurrencies values would rise significantly and quick and substantial investment returns are guaranteed.
Barclays Corporate Bank challenged the firm’s claims that Bitcoin values had hit £30,000 in 2018 and complained the advertising did not explain Bitcoin was an unregulated financial product in the UK.
Crypto Global Bank failed to respond to the watchdog.