WrathofKahneman Profile picture
Oct 28, 2021 7 tweets 4 min read Read on X
The SBI Q2 Report is out. Six slides bear upon #XRP and #Ripple and then I just type a couple more thoughts..

1) First up - ODL makes the presentation! (p.181) JPY-PHP is Japan's first DA remittance service. sbigroup.co.jp/english/invest…
2) Not a huge surprise, but SBI is planning for #Ripple's IPO. (p.75)
3) SBI has set up a car export business in Africa with the intent to use #XRP. (p.90)
4) SBI is launching a crypto fund of the DA they sell with a large portion as #XRP. (not clear if it will be 50% as reported last year, but doubtful?) (p.174)
5) #XRP is central to their remittance strategy, obviously, but as SBI goes all-in with DeFi, tokenized assets and NFTs, will XRP find an expanding role? (p.153)
And now, boring text with no pictures-
SBI describes itself as a personal online bank that is pivoting to include larger corporate accounts, their regional revitalization efforts require it. It means providing FX liquidity in traditional ways, too, not just Ripple/XRP. 🤔
They move forward w/ Osaka Exchange providing global DA liquidity, too. #XRP is presented very specifically for xborder tx's. I presume more ODL corridors are on the way, but will their consideration of XRP change as their DA ambitions grow? NFT? Sidechains? That's the q.

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More from @WKahneman

Oct 21, 2025
Here's is the investor presentation ex.-99.1 for Evernorth! It clarifies and titillates :) I haven't clipped them all, but most here. Take a look, especially at 6 & 9. 🧵

1/10 but mostly pictures- #XRP #XRPCommunity #XRPL #RLUSD
2⃣leadership #XRP #XRPCommunity #XRPL #RLUSD
3⃣Growth edge #XRP #XRPCommunity #XRPL #RLUSD
Read 11 tweets
Oct 20, 2025
Here is the 8-K form for the #Ripple backed SPAC merger w/ Armada Acquisition Corp II to hold #XRP. Ripple is a named party in the agreement. 1/3 #XRP #XRPCommunity #XRPL #RLUSD
2. One clause requires Evernorth to buy #XRP equal to the advance funding proceeds within ten days of closing. (Opinion) The contract uses “purchase,” not “transfer” or “acquire from Ripple” so I believe these are open market buys.
3. The wallet will be operated by Pubco (Evernorth) to function as a company whose balance sheet intentionally holds XRP as a core reserve. It will be a public, regulated co - we will know the financials of this entity because it will be listed.
Read 5 tweets
Sep 23, 2025
#Ripple/Securitize/BlackRock/VanEck: What does it all mean? The short version is that Securitize has tokenized some funds from big players. Now, they have made a contract for seamless redemption to #RLUSD.
So what?

A thread.#XRP #XRPL #XRPCommunity #RLUSD
2⃣ What are these funds?
>BUIDL is BlackRock’s tokenized money market fund, a cash management tool to safely park cash.
>VBILL is VanEck’s tokenized U.S. Treasury Bill fund. Used by trading desks, hedgefunds wanting crytpo T-Bills. #XRP #XRPL #XRPCOmmunity #RLUSD
3⃣ Securitize issues tokens representing both funds. Now they have a smart contract that lets holders redeem them in RLUSD, 24/7. No waiting for banks or end-of-day bank processing. Call it programmable liquidity.
Read 8 tweets
Aug 23, 2025
Unpacking the #Ripple/Gemini news. What exactly is going on? The whole may be greater than the sum of it's parts. (It gets weird in #5) This week has brought interesting news to ponder if this is more than just a loan ⤵️
1/8 #XRP #XRPCommunity #XRPL #RLUSD
2⃣Gemini’s SEC filing shows a revolving credit facility from #Ripple, a line of credit basically, up to $75M USD, expandable to $150M.
> Min draw is $5M
> Interest 6.5% or 8.5% depending on the collateral, which likely includes crypto.
Pretty standard before an IPO, but⤵️ #XRP #XRPCommunity #XRPL #RLUSD
3⃣The unusual part is that once Gemini borrows past $75M, additional draws can be in #RLUSD. It doesn't require or force RLUSD use, it just makes it available. It could embed RLUSD into a regulated exchange’s financing, but they don't have to.
Read 11 tweets
Aug 2, 2025
📰📰#Ripple’s OCC Banking License application is now available! Vol. 1 is the public release. The application provides some clues about Ripple’s intentions and structure to consider.
1/6#XRP #XRPL #XRPCommunity #RLUSD
2⃣First, and maybe obviously, Ripple is applying to charter a limited purpose OCC-regulated national trust bank. It would enable custody of RLUSD reserves and operating regulated infrastructure for tokenized finance and …...future Fed access (?). #XRP #XRPL #XRPCommunity #RLUSD
3⃣So it won't be retail. The CRA says it doesn't apply "to national banks that don't engage in any lending or deposit-taking activities &whose biz consists exclusively of fiduciary activities.” No deposits or lending, strictly B2B banking & infrastructure. Probably obvious. #XRP #XRPL #XRPCommunity #RLUSD
Read 9 tweets
Aug 1, 2025
A couple of highlights from the latest SBI report pertaining to #XRP & #Ripple. 1/3

[1] Some detail about adoption: SBI cites Ripple Payments in use by 100+ FI's across 55 countries. This is different than the oft cited 300 FI's, which may be using other products.#XRP #XRPCOmmunity #RIpple #RLUSD #XRPL
[2] They seem to be for crypto ETFs, including #XRP #XRP #XRPL #XRPCommunity #Ripple
[3] SBI has plans for #RLUSD. (Note the restrictions on JPY-backed stablecoins, too) #XRP #XRPL #XRPCommunity #Ripple
Read 4 tweets

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