⚠️ BREAKING:
FEDERAL RESERVE FINANCIAL SERVICES JUST POSTED THIS:
„ISO20022 FOR THE FEDWIRE FUNDS SERVICE WILL BE IMPLEMENTED ON JULY 14!“ ⏱️
NOTICE THE GREEN LIGHT? 🚦 #XRP
True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.
Earlier in the week via @StandardCustody, we also applied for a Fed Master account -- while Congress is working towards clear rules and regulations, and banks (in a far cry from the years of Operation Chokepoint 2.0) are leaning in, this access would allow us to hold $RLUSD reserves directly with the Fed and provide an additional layer of security to future proof trust in RLUSD.
Ripple always has and will continue to build trusted, battle-tested and secure infrastructure. In a $250B+ market, RLUSD stands out for putting regulation first, setting the standard that institutions expect.
Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in.
🚨 Ripple and the SEC have jointly requested a pause on the appeal, signaling that a settlement is in motion.
Final approval from the commission is pending.
#XRP#XRPArmy#XRPCommunity#XRPHolders
🚨 BREAKING:
TREASURY SECRETARY SCOTT BESSENT SAYS THE US GOVERNMENT IS „TAKING A CLOSE LOOK AT REGULATORY IMPEDIMENTS TO BLOCKCHAIN, STABLECOINS & NEW PAYMENT SYSTEMS!“ 🇺🇸
RIPPLE‘S STABLECOIN RLUSD IS READY AND COMPLIES WITH ALL LAWS! 🙌🏼 #XRP
And...a few hours later we get an appellate filing that (2) has been resolved. Formally, it is not resolved until we see the notice of withdrawal but today's filing publicly states the settlement is done pending Commission approval.
What they told you crypto was about:
ICOs, NFTs, Cartoon monkeys, Memecoins
What's it's actually about(we tried to tell you):
The US Dollar remaining the world reserve currency
Bretton Woods 2.0
Great Trump Reset
World Reserve Digital Assets
Replace the PetroDollar
BRICS Solution
Financial Inclusion
Banking The Unbanked
Level The Playing Field
US Treasuries remaining strong
Global Bridge Currencies
The Payment System
Why did the SEC choose @ripple and XRP to target out of the thousands of crypto companies and digital assets?
The Level Playing Field is here. @bgarlinghouse layed it out long ago.
PS F You Gary! You lose.
$3 trillion a year equates to about $8.22 billion flowing daily.
XRPL currently $500 million to $1 Billion Daily
This will have a massive increase to XRPL volume on chain
https://t.co/tUAb1kEKvQ
Ripple’s $1.25B acquisition of Hidden Road isn’t just a win for $XRP, it’s a signal flare for Flare.
Billions in capital, institutional clearing on XRPL, and RLUSD as the bridge between traditional and crypto markets.
Now imagine that flow unlocking on Flare via $FXRP + FAssets. We’re just getting started.
🚨 Here is the full speech of @MonicaLongSF about @Ripple acquiring Hidden Road for $1.25B👇
How RLUSD will be used ?!
Will XRP be involved in this deal ?
Is volume on the XRPL going to explode ?
Check and repost the video guys 👇
Ripple is acquiring prime-brokerage Hidden Road for $1.25 billion, marking the largest deal ever for the digital-asset company and one of the biggest in the history of the cryptocurrency industry https://t.co/ZuolDcwCXb
i worked at goldman sachs, blackstone and graduated from @Wharton with honors.
i've tracked tons of deals in the crypto space.
but @ripple's acquisition of hidden road is without a doubt one of the most important deals for crypto.
here's why:
1/ ripple is now the first crypto company to own and operate a global, multi-asset prime broker.
this means ripple can offer full-service trading and clearing solutions that rival wall street's biggest players. in fact, it's the first crypto company to do so.
2/ one of the largest deals in crypto.
at $1.25 billion, this is a big deal (literally!). i'm currently on the ground at Paris Blockchain Week, where the news first dropped, and it's all everyone's talking about.
3/ supercharges the #XRP Ledger and adoption of $RLUSD stablecoins.
how? well, all of hidden road's trades will be migrated onto the #XRP Ledger. and $RLUSD will be used as collateral across Hidden Road’s brokerage services. both bring huge real-world institutional usage to the ecosystem.
4/ hidden road is one of the fastest-growing prime brokers in the world.
with $3 trillion+ in clearing volume annually and 300+ institutional customers, hidden road allows ripple to bring digital assets to institutional customers at speed and scale previously not possible.
5/ gives ripple an unparalleled foothold in traditional finance.
on any one day, hidden road clears over $10 billion and processes more than 50 million transactions across traditional rails. now, that's going to run on the XRP Ledger.
since partnering with ripple, we @easya_app have educated over 100,000 developers on the XRP Ledger and got thousands more launching on the XRPL at our in-person ripple hackathons around the world.
with this latest acquisition, we're excited to work with ripple to onboard thousands more. the future's even brighter than you can imagine.
I have a theory about Brad Garlinghouse stating on live television that dozens of banks would use xRapid (ODL) in 2019 and what went wrong.
My theory is that he expected Hinman to include XRP in his famous speech where he declared Ethereum a non-security... and thus spoke too early.
If you just look at the dates:
- Brad Garlinghouse made his statement on live TV on June 5th, 2018.
- Hinman gave his famous speech on June 14th, 2018. Just nine days later.
With clarity that XRP is not a security, banks could have felt safe to use XRP in their payment flows.
xRapid (later ODL) went live later that year.
Instead, the SEC went silent on XRP UNTIL the very end of Clayton's term when he and Hinman quit that same day they launched their lawsuit, at the end of 2020.
What would have happened if XRP would have been included in the Hinman speech?
But it also gives us indications that some very good things may come when the SEC vs Ripple lawsuit is officially over...