Ripple (NASDAQ: XRP) Asserts 20+% Of All Transactions On Its Global Network Of Blockchain And Cryptocurrency Payments Platform Are Made In Its XRP Crypto Digital Currency; iQSTEL Inc.’s (OTC: IQST) itsBchain LLC Subsidiary Finalizing Settle-ments/Payments Marketplace Project
Quick growing Ripple (NASDAQ: XRP) asserts that more than 20% of all transactions on its global network of blockchain and cryptocurrency payments platform are made in its own XRP Crypto digital currency. The open protocol of worldwide payments at the FinTech company is seen as a ‘melding of the old world and the new,” according to Asheesh Birla, Ripple Senior VP. Ripple has been named to the Forbes FinTech Top 50 List for 2020. Meanwhile, iQSTEL Inc.’s (OTC: IQST) itsBchain LLC Subsidiary is finalizing its own Settlement and Payment Project in telecommunications that cuts costs and speeds transactions on a blockchain that offers transparency in real time.
Media companies such as Stock Market Press are reporting on the fast growing telecommunications market. It keeps readers up to date on company stocks such as iQSTEL Inc. (OTC: IQST), amazon.com (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), Telefónica SA (NYSE: TEF), Samsung Electronics Co. Ltd. (OTC: SSNLF), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS),Ericsson (NASDAQ: ERIC), DISH Network Corporation (NASDAQ: DISH), Nokia Corporation (NYSE: NOK), Liberty Global (NASDAQ: LBTYA) and Vodafone Group PLC (NASDAQ: VOD).
Ripple (NASDAQ: XRP) Asserts 20+% Of All Transactions On Its Global Network Of Blockchain And Cryptocurrency Payments Platform Are Made In Its XRP Crypto Digital Currency; iQSTEL Inc.’s (OTC: IQST) itsBchain LLC Subsidiary Finalizing Settlements/Payments Marketplace Project
Birla said that its XRP is increasingly being used as a ‘bridge currency’ in RippleNet transactions
as on On-Demand Liquidity Solution. Birla said, “We’re seeing a melding of the old world and the new. It’s only a matter of time before banks offer custody cervices, acquire companies with those capabilities, and potentially even offer crypto lending as they see consumer interest in DeFi.” He added that dollar-backed cryptocurrency, like Tether, offer unbanked consumers and individuals outside of the U.S. access to the U.S. dollar. Ripple (NASDAQ: XRP) Asserts 20+% Of All Transactions On Its Global Network Of Blockchain And Cryptocurrency Payments Platform Are Made In Its XRP Crypto Digital Currency; iQSTEL Inc.’s (OTC: IQST) itsBchain LLC Subsidiary Finalizing Settlements/Payments Marketplace Project.
iQSTEL Inc. (OTC: IQST) Sees Key Role In Settlements/Payments Marketplace
In this digital FinTech global world, banks are beginning to see the merit in global transactions made in blockchain and cryptocurrency. This only proves the wisdom and foresighted vision of iQSTEL Inc.’s (OTC: IQST) strategy of acquiring blockchain-driven companies such as subsidiary itsBchain. That company’s Settlement and Payment Project platform designed initially for Tier-1 and Tier-2 telecommunications carriers offers real time daily payment settlements for VoIP, SMS and data. This carrier market exchange currently is approximately a $900 billion market in the U.S. Rather than a 30-45 day process closing process, these transactions can be settled using this new platform in a single day under the itsBchain LLC project. It offers lower costs, faster settlements plus blockchain accuracy and transparency, the subsidiary said on its site.
As a soaring FinTech innovator such as Ripple (NASDAQ: XRP) sees the value in worldwide transactions made by blockchain technology in digital cryptocurrency, iQSTEL Inc. (OTC: IQST) subsidiary itsBchain LLC sees the importance of developing a 21st Century payments platform in the telecommunications field. This new platform offers all the benefits developed by Ripple to global bankers: speed, safety, transparency and stability. This is the intersection of the new digital settlement and payment marketplace platform being finalized by subsidiary itsBchain LLC and the new interest by banks in blockchain’s distributed ledger technology.
Cryptocurrency Gaining Acceptance From More Global Banks
Major publicly traded financial institutions such as MasterCard (NYSE: MA) and central banks such as Bank of America (NYSE: BAC) And Goldman Sachs (NYSE: GS) see a cryptocurrency payments ecosystem emerging in the future. MasterCard’s experimental Digital Currency Testing Platform and the activity of Bank of America and Goldman Sachs handling of large cross border transactions using cryptos-underlying technology, blockchain, reflects their acceptance of the digital future. Ripple (NASDAQ: XRP) Asserts 20+% Of All Transactions On Its Global Network Of Blockchain And Cryptocurrency Payments Platform Are Made In Its XRP Crypto Digital Currency; iQSTEL Inc.’s (OTC: IQST) itsBchain LLC Subsidiary Finalizing Settlements/Payments Marketplace Project.
iQSEL, Inc.’s (OTC: IQST) Sees Strong Q3 And Q4 2020 Performance
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST) (majority owner of itsBchain LLC subsidiary), said the parent Company’s first half 2020 financial gains represent “further proof that our business model, a combination of corporate growth and acquisitions, is working very well. All of our operating subsidiaries just reached a major milestone, going Net Income positive. Our management experience in Telecom Operations has been key in the achievement of these results. We look forward to fantastic Q3 and Q4’s as we anticipate further corporate and subsidiary developments leading in to 2021.”
iQSTEL, Inc. (OTC: IQST) reported all operating subsidiaries of the 21st Century enhanced telecommunications service provider generated positive net income for the parent Company. These subsidiaries include: Etelix, SwissLink, QGlobal and IoT Labs. All showed a positive net income for the Q2 2020 reporting period.
iQSTEL, Inc. (OTC: IQST) Expands List Of Subsidiaries
The parent company owns a 75% stake in blockchain subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide. It has acquired 51% of an Austin, Texas-based SMS U.S.-Mexico Service provider. Most recently it acquired IoT Labs MX SAPI. This Internet of Things (IoT) company is the creator of the “IoT Smart Gas” platform and application.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 firstname.lastname@example.org
Safe Harbor Statement: Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press