Celer Networks In Talks With NEO

The Celer Network (CELR) could become a scaling solution for NEO’s blockchain platform.

NEO has already integrated with Trinity Network, an existing off-chain scaling protocol developed in-house by NEO developers. John Wang, NEO’s Director of Eco Growth and the $100M EcoBoost fund, says that an integration with Celer is now “under discussion.”

The Celer Network is designed as a scalable payments solution that uses smart contracts and DAG-based sidechains to facilitate fast and feeless transactions, fifteen times faster than Bitcoin’s Lightning Network.

Celer is blockchain-agnostic and can run on multiple chains simultaneously. It already supports Ethereum, Oasis, Thunder (TT) and the DLT cloud computing project, Dfinity. The protocol is open-source, so any blockchain can integrate by writing out the necessary components and smart contract connections

The NEO core team is currently focused on developing its version 3.0, which will improve stability and scalability as a means to draw users back to the network. Based on the roadmap, NEO 3.0 should be ready sometime in Q1 2020. If the talks go according to plan, Celer may be a part of the new roll-out. (Neutral)

Binance Reveals ‘Venus’ — Its Own Project to Rival Facebook’s Libra

Binance is launching ‘Venus’ — a cryptocurrency project that it says will be more independent and regionally-focused that its Facebook counterpart.

The exchange defines Venus an “independent regional version of Libra,” according to an announcement published Monday. The exchange also calls on governments and businesses  organizations to join the initiative. (Neutral)

Santander to Connect Latin America Using Ripple’s xCurrent

Spanish megabank Santander Group is expanding its use of Ripple’s technology.

The bank is building a “payment corridor” that would let customers in Latin America send money to the U.S. instantly for free via One Pay FX, a mobile app that uses Ripple’s xCurrent software.

Currently, only customers in the U.K. and Spain can send money to the U.S. over One Pay FX. While the bank would not reveal how many Latin American countries it plans to connect to the corridor, Santander serves Brazil, Uruguay, Chile and Mexico.

Like Santander’s DLT efforts to date, the new payment capability will not involve XRP. Last year, Santander introduced One Pay FX in four countries that account for more than half the bank’s profits: Spain, the U.K., Brazil and Poland.

This offering is getting traction, the bank says.

“Customers who were not doing international transfers are now using the service, customers who were using international transfer are now doing it more, and customers who had gone to use fintech competition have come back because of the One Pay offering,” said Cedric Menager, CEO of One Pay FX.

Unlike the SWIFT messaging system that banks traditionally have used to make international transfers, xCurrent is instant, has no fees and gives users a view into currency exchange rates before they send money, Menager said. (Positive)