October 2024 has been a rollercoaster month for the crypto industry as key events like the recent partnership between cross-border payment network Ripple (XRP) and Brazilian crypto exchange Mercado Bitcoin. Amidst these developments, a crypto ETF trading platform, ETFSwap (ETFS), gained massive traction in its ongoing presale as it plans to roll out phase 1 of its beta platform. This article discusses these developments in detail.
Industry Whales Rush ETFSwap (ETFS) As It Gears For Beta Platform Launch
ETFSwap (ETFS) is a crypto ETF trading platform that facilitates the trading of tokenized ETFs on the blockchain. The tokenized ETFs on the platform directly represent traditional ETFs on-chain, allowing everyone to invest in assets like precious metals, cryptocurrencies, and even stocks at a low price. Also, since they are on-chain, users can trade anytime, unlike traditional ETFs, which are restricted to specific trading hours.
Further transactions on ETFSwap (ETFS) will be executed with the help of smart contracts, unlike traditional financial institutions where third-party authorization is needed for a transaction to be fully executed. Regarding security, ETFSwap (ETFS) has taken strict measures to protect users and its ecosystem from fraud and cyber attacks. One such measure is a regular audit of its smart contracts to fish out vulnerabilities that hackers can exploit to gain illegal access to the network.
Recently, Cyberscope, a world-renowned blockchain security firm, thoroughly audited the platform smart contract and found it intact with no severe underlying conditions to make cyber-attacks to cyber attacks. The ETFSwap team was also recognized by SolidProof, a smart contract security auditing firm in Germany, who verified them for their trustworthiness and transparency. Also, ETFSwap (ETFS) announced the launch of its highly anticipated beta platform, with plans to roll out phase 1 soon. In this phase, users can test ETFSwap (ETFS) swapping features and its liquidity and staking mechanism.
However, only users who hold the platform's native token ETFS can participate in the beta platform launch; thus, industry whales are scampering to buy the token in the ETFSwap (ETFS) ongoing presale. In this presale, ETFSwap (ETFS) offers the token at a low price of $0.03846 per coin. However, aside from gaining access to the beta platform launch, token holders can increase their profit by staking the token on the platform staking pool, earning up to 87% APR. Users who stake their tokens are also eligible for rewards from the platform’s 5% sell tax and trading fees.
Ripple (XRP) Lands Key Partnership In Brazil
US-based fintech giant Ripple (XRP) has expanded its services to Brazil by partnering with Brazilian-based crypto exchange Mercado Bitcoin to transform cross-border payment in the region. Interestingly, the partnership with Mercado Bitcoin came after the US SEC filed for an appeal in its ongoing legal dispute with Ripple (XRP).
Further, Ripple's (XRP) move into Brazil aligns with the payment network's goal of establishing itself as a leader in LATAM-based countries’ crypto and fintech sectors. Further, Mercado Bitcoin, one of the largest crypto exchanges in Brazil, is the first to adopt Ripple (XRP) payment. However, it won't be the last, as integrating the Ripple (XRP) payment method will eliminate payment delays, and users will no longer need to wait for banking hours before making transactions.
In addition, fintech media outlet Decrypt is optimistic that the partnership between Ripple (XRP) and Mercado Bitcoin is a win for Brazil and the region. Meanwhile, many analysts are confident that Ripple's (XRP) expansion into Brazil will react favorably to the XRP price, pushing the token to new highs. According to CoinGecko, Ripple (XRP) currently trades at $0.53, ranking 7th in the crypto market.
Conclusion
The future is bright for XRP as Ripple (XRP) has entered Brazil by partnering with the country's top crypto exchange Mercado Bitcoin. However, it is brighter for ETFSwap (ETFS) as it is expected to surge to the $5 mark after platform launch and token listing. Meanwhile, Ripple (XRP), on the other hand, is still facing legal battles with US regulators, which could hinder its growth. So do not let this opportunity pass you by. Buy ETFS today!
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