2. Last week Xago partnered with BEQUANT to offer cross border trading facility for institutional investors based in Africa.
"Xago will now be able to access liquidity from Europe that institutional investors have been seeking in Africa" bequant.pro/media/bequant-…
3. Also last week, they partnered with Paxful, Africa's largest P2P BTC marketplace w/mobile app.
4. Xago launched as a Ripple gateway & custom exchange in S. Africa, "an issuing gateway and a private exchange with the gateway offering “a way for money and other forms of value to move in and out of the XRP ledger.” bitcoinafrica.io/2019/04/06/sou…
5. They have created a crypto-agnostic settlement platform and depending on the preference of the customer facing wallet, Xago will settle with the retailer in ZAR. Customers who sign-up directly with Xago pay in #XRP. xago.io/faq/
10. Final thoughts: @xago is ambitiously pro-#XRP and Africa is an important market. . Ripple highlighted MercuryFX because they are an old ODL partner but things are heating up for XRP in Africa with @Xago_io Looking forward to seeing how their payments efforts develop.
KFH making some noise in the press, including mention of Ripple. (Apologies for translations:) The first:
"KFH has also recently launched Live FX Pricing, an instant transfer service to your home Turkey using RippleNet" aljarida.com/articles/16206…
These next two are also very recent and seem like they are working from the same underlying copy, perhaps a press release? This one mentions instant transfers with RippleNet in a sidebar. alraimedia.com/pdf/2021/05/27…
This one mentions KFH's services as well, including instant RippleNet transfers. The article is reporting KFH's earnings growth, hence seemingly largely like a duplicate. pdf.alanba.com.kw/pdf/2021/05/07…
An observation & some amateur musing about the XRPL, a thread: The Ripple, RippleX, discussions about CBDCs and NFTs both discuss "coming federated sidechains". Today's RippleX article mentions it and links to an earlier article.
At 23:15, David Schwartz explains more in the video on this page today's announcement linked to. He also mentions -in passing- DeFi capabilities linked through Federated Sidechains that won't clog basic XRPL payment functions. (good! ) blog.ripplex.io/whats-the-deal…
Here's @JoelKatz Quora response about CBDCs as federated sidechains:
Q: Is Ripple's new announcement about a private version of XRPL an example for Federated side chains?
A: Yes. quora.com/Is-Ripples-new…
The letter Ripple filed today asking for SEC docs has some big claims that will define this case. They are asking for docs claiming the SEC is "withholding relevant, potentially exculpatory evidence" by not handing over communications. courtlistener.com/recap/gov.usco…
2) And this is important: "Based on information gleaned to date, it is clear that the SEC was told by sophisticated market participants that XRP was not a security" even after soliciting feedback. They ran with this until Dec '20.
3) They argue directly a consideration of the Howey test should consider that the SEC "shaped the character of XRP & other digital assets in commerce and what market participants could expect."
Perhaps someone can look this up, was posted on XRPChat (thanks Peanut56). "The Delaware Chancery court issued temporary restraining order Friday limiting Ripple's cryptocurrency transactions and stock redemptions until Tetragram can sell back its stock." law360.com/articles/13454…
"The vice chancellor said she viewed Tetragon's requests for a complete ban on XRP purchases as potentially "heavy-handed." Instead, the court ordered Ripple to maintain a "net zero" position in sales and purchases of XRP, rather than halting acquisitions outright."
Some takeaways:
•Tetragon's argument was they want to get out before the stock depreciates.
•They argue the Wells notice was a trigger for redemption, but Ripple argues it was not; a textbook example even.
At the 47min mark of Kristina Corner's interview of Ripple's @JoelKatz , he says three significant things in rapid succession before closing:
1) He dismisses idea that Ripple's escrow is spoken for as "conspiracy theories"
2) Says Ripple is "working on regional clearing partners which are banks that have RippleNet connections to numerous other banks in that region … so you can sign up with RippleNet as an institution and get clearing into an entire region"
3) Ripple is "also looking into offering...things like loans, or ...DeFi services to institutional partners. One of the unique things that Ripple has, is ...our software in the tx flow of all these financial institutions... and can offer it immediately..."
1/ Ripple investor SBI's capital tie-up with Sumitomo portends big things, potentially for XRP, even. There are a number of connected events that bear consideration; an SBI/Sumitomo/#XRP megathread. (sorry 😅)
2/ The specific fund Sumitomo invested in, OpenLegacy, is one used to revitalize aging Japanese banking by supporting API integration of core banking platforms.
SBI invested $20m in January specifically noting banks can integrate with MoneyTap. verdict.co.uk/retail-banker-…
3/ It's pretty clear Sumitomo is courting a younger online audience by buying 20% of the shares of SBI Neo Mobile Securities sometime in June. Their core clientele is an aging population. Though not announced, MoneyTap would serve them well.