👀 "In the future, customers can use their Ripple-enabled wallet to custody XRP, BTC, stablecoins, and anything that’s tokenized. "

Ripple's getting into the custody game.

Some observations:

I mean how could you not think that even if Ripple is working on their own custody solutions. 😆
The real story here is wallets. Offering a wallet is what a lot of big players in payments do. A wallet is a functional account to add services to. Visa does this for Visa Direct.
Growth from a payments network to "a platform providing tokenized services" bringing crypto to enterprise reflects what the XRPL was created for, only in an enterprise ready form. It coincides with renewed discussions about moving tokens on XRPL happening on Twitter.
Are there any SEC implications here?
They write "it all starts with wallets" but remember that is the thing FINCEN forbade them from offering in an early action.. This new wallet account is surely Ripple-customer only, not for public and highly vetted/compliant.
NFT's are not the focus of this document, but they are included.
@novatti is mentioned, as is Ripple's acquisition of Tranglo as as fiat on and off-ramps, especially in SE Asia.
@fxflash also mentioned - why? Just to show ODL is driven by customers? Is there more here?
Nerd stuff: @ashgoblue and @Ripple editors should be congratulated for their writing here. Great composition/ clarity to tell a story.
(I swear I'm not grading these but I just finished reading a bunch of essays I wish were this clear.)

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More from @WKahneman

7 Jul
#Ripple partner Nium has acquired Wirecard Forex India Private Limited. Wirecard Forex is an FX exchange, pre-paid card, & remittance service provider licensed by the RBI as a Money Exchange Dealer (AD II). The aquisition opens up the subcontinent.
Wirecard Forex has 23 branches in major cities with 190 employees. The deal is expected to close in the third quarter of 2021. It's an opening in a huge market with several payment methods.
Wirecard Forex India was a division of Wirecard AG which dissolved after ~$2b "disappeared" and several officials were arrested. FWIW, The CEO of SBI Ripple Asia once wrote about Wirecard and blockchain
Read 4 tweets
3 Jun
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"
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… Image
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… Image
Read 4 tweets
24 May
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! )
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.
Read 5 tweets
7 Apr
#Ripple recently announced partners MercuryFX & @Xago_io were admitted to S.Africa's Intergov. sandbox. MercuryFx is known, but Xago, built on the XRPL, trading #XRP, needs some exposure.
A thread, 1/x :
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"
3. Also last week, they partnered with Paxful, Africa's largest P2P BTC marketplace w/mobile app.
Read 12 tweets
15 Mar
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.
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."
Read 4 tweets
19 Jan
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."
"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.
Read 6 tweets

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