The number of bearish forecasts is much higher than the bullish ones.
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The company has signed a strategic partnership with Bahrain Fintech Bay, the main fintech incubator of the Kingdom of Bahrain, which is working with the government to implement blockchain and digital assets.
Now Ripple is officially consolidated in the MENA (Middle East and North Africa) region, continuing to expand after obtaining a DFSA license in Dubai.
What are they planning:
✦ Launch of pilots and PoC projects based on RippleNet and asset tokenization.
✦ Development of stablecoin #RLUSD and solutions for storing digital assets.
✦ Educational programs and accelerators for local fintechs.
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The company announced a strategic partnership with Absa Bank, one of the largest banks on the continent.
Together, they will launch institutional custody of digital assets in South Africa, including cryptocurrencies and tokenized assets.
Absa will become Ripple’s first major custody partner in Africa. Cooperation is aimed at developing a secure and regulated infrastructure for digital assets in fast-growing markets.
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At the DC Fintech Week conference, CEO Ripple said that crypto companies should receive the same opportunities as banks if they comply with the same laws.
«If we comply with the requirements of AML, KYC and OFAC, give us the same access to infrastructure, for example, to the Fed master account. You can’t say «yes» to regulation and «no» to equality».
As a reminder, Ripple has already applied for a national banking license. However, traditional banks are already lobbying against this step - fearing competition.
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#records
🐳 Institutional demand for cryptocurrency is increasing - report
➤ The volume of trading in cryptocurrency futures and options on CME exceeded $900,000,000,000 in the 3rd quarter - a record.
➤ Average daily open interest (OI) increased to $31,300,000,000.
➤ The number of large holders of positions (LOIH) reached 1014 - the historical maximum.
➤ Ethereum shows strong growth: the trading volume exceeded $13,000,000,000 per day (in the 3rd quarter)
➤ CME has launched options on #SOL and #XRP - a step towards the diversification of crypto derivatives.
➤ The exchange plans to switch to round-the-clock trading in crypto products - a step towards synchronization with the global market.
@Сryptoz ₿
➤ The volume of trading in cryptocurrency futures and options on CME exceeded $900,000,000,000 in the 3rd quarter - a record.
➤ Average daily open interest (OI) increased to $31,300,000,000.
➤ The number of large holders of positions (LOIH) reached 1014 - the historical maximum.
➤ Ethereum shows strong growth: the trading volume exceeded $13,000,000,000 per day (in the 3rd quarter)
➤ CME has launched options on #SOL and #XRP - a step towards the diversification of crypto derivatives.
➤ The exchange plans to switch to round-the-clock trading in crypto products - a step towards synchronization with the global market.
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A closed fundraising dinner was held in the White House.
Among the participants: heads of Gemini, Coinbase, Ripple (#XRP) and representatives of Meta, Google, Amazon and Microsoft.
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The company became the world’s first crypto firm to own and manage a global multi-active prime broker.
Stablecoin #RLUSD is now used as collateral in brokerage products, and BNY Mellon Bank has become its main custodian.
The deal strengthens Ripple’s institutional presence and opens the way to the introduction of digital assets into traditional finance.
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The company previously issued a bank card in the United States, but then stopped issuing it in March 2023. Probably because of the regulatory pressure.
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🎉🇺🇸 #XRP Ripple launches a brokerage platform for trading digital assets in the United States - announcement
Ripple Prime is a new service that allows institutional clients to make OTC transactions with dozens of tokens, including #XRP and #RLUSD. Includes spot trading, derivatives, currency transactions and swaps.
The launch followed the completion of the acquisition of prime broker Hidden Road, whose solutions are now integrated under the Ripple Prime brand.
@Сryptoz ₿
Ripple Prime is a new service that allows institutional clients to make OTC transactions with dozens of tokens, including #XRP and #RLUSD. Includes spot trading, derivatives, currency transactions and swaps.
The launch followed the completion of the acquisition of prime broker Hidden Road, whose solutions are now integrated under the Ripple Prime brand.
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Ripple, Mastercard, WebBank and Gemini are testing a system for credit card payments on XRP Ledger using stablecoin RLUSD.
The green light is expected from American regulators in the coming months - then the phased introduction of #RLUSD into the Mastercard, WebBank and Gemini settlement system will begin.
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At the same time, the #XRP token increased by 12% per day.
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⊹ Franklin XRP Trust ETF (#XRPZ).
⊹ 21Shares XRP ETF (#TOXR).
⊹ Bitwise XRP ETF (#XRP).
⊹ Canary XRP ETF (#XRPC).
⊹ CoinShares XRP ETF (#XRPL).
Adding a ticker to the DTCC website is part of the process of bringing ETFs to the market. The DTCC list includes active and potential ETFs, there is no 100% probability of listing. Depository Trust & Clearing Corporation clears transactions on Nasdaq.
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Expected trading volume #XRPC on the first day = $17,000,000 (according to Bloomberg forecasts)
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#altcoins
🔥 Eric Balchunas: Within the next 6 days, 5 spot ETFs will be listed for altcoins.
➤ Today: Dogecoin ETF from Grayscale.
➤ Next: ETF on #XRP, #DOGE and #LINK from Grayscale, Bitwise and Franklin Templeton.
@Сryptoz ₿
➤ Today: Dogecoin ETF from Grayscale.
➤ Next: ETF on #XRP, #DOGE and #LINK from Grayscale, Bitwise and Franklin Templeton.
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⊹ Bitcoin ETF (#BTC) = +$70,050,000.
⊹ Ethereum ETF (#ETH) = +$312,620,000.
⊹ Solana ETF (#SOL) = +$108,340,000.
⊹ Ripple ETF (#XRP) = +$243,950,000.
⊹ Hedera ETF (#HBAR) = +$4,220,000.
⊹ Litecoin ETF (#LTC) = +$414,950.
⊹ Dogecoin ETF (#DOGE) = +$2,160,000.
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▪#BTC = +$58,500,000.
▪#ETH = -$9,910,000.
▪#SOL = +$45,770,000.
▪#XRP = +$67,740,000 (12 green trading days in a row).
▪#HBAR = +$1,780,000.
▪#DOGE = +$513,430.
▪#LTC = $0.
The trading volume of Bitcoin ETF IBIT from BlackRock yesterday exceeded $3.7b and bypassed VOO from Vanguard - the largest ETF on the S&P 500 index ($3.2b).
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