Yesterday, @Ripple led a $72m funding round for digital asset market maker Keyrock. Active primarily in spot markets so far, it has been expanding into OTC markets recently. investingcube.com/market-maker-k…
"Keyrock leverages its own technology to offer flexible and scalable liquidity solutions to marketplaces and asset issuers like #Ripple and over 85 other trading venues." They lost a small amount of assets to FTX. coindesk.com/business/2022/…
Also, SIX is partnered up w/ #Ripple investor SBI Holdings to create "the preeminent digital asset liquidity hub in Singapore."
And Middlegame Ventures has nothing to do with gaming.
Ah, here's the soundbite: “Keyrock has provided scalable liquidity solutions to all kinds of stakeholders... including #Ripple,” said Maxime Fages, Dir of Institutional Markets at Ripple. “We have been partners for over 3 years & watched Keyrock’s global success.”
This means they partnered before Liquidity Hub was announced. The question is how, in what way?
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Let's be clear; there are no secret ledgers where real XRP is priced at $100k. It is impossible and represents a misunderstanding of how the #XRPL works.
A🧵/12
2. Just think of it - want XRP to be $50? $500? $5 million!? You could do it on your own private ledger! XRPL.ORG / Github even shows you how!
Then squeeze your super valuable XRP back onto the market, right? xrpl.org/blog/2020/runn… xrpl.org/run-rippled-as…
3. No.
Remember how the XRPL achieves consensus; there is a network of independent validators that agree on each tx recorded so the network progresses. And they already agree on the amount of XRP created and where it is. wazirx.com/blog/blockchai…
Get questions re: Partior given these articles. JPM spun off Partior, a "neutral" global payments platform. ETH based (no fees). It's competition for Ripple in one sector but - and this is significant - it is also further fragmentation, not consolidation. ledgerinsights.com/partior-jp-mor…
What Partior has done, as you might infer from the article, are systems for large value tx's, like SWIFT. They look like correspondent schemas, laid out in smart contracts for speed & automation.
For the most part there hasn't the XRP liquidity for these & worse still (for banks) it requires buying XRP. Partior doesn't require buying a token. The AMM XRPL proposal could go a long ways to providing enough liquidity though for large ODL tx's which wouldn't require buy-in.
Don't miss the news that MFS Africa is now a #Ripple ODL partner amidst all the news of the day. This is a potentially huge partnership. Why so exciting? A humble 🧵beginning w/ the obvious & moving to the not-so-obvious in 7 tweets.. financialit.net/news/cryptocur…
1. First, mobile uptake is important. #Ripple notes worldwide use is expected to reach 70% of the global population, largely in markets in APAC & Africa. This is a perfect high volume, small payment application that could generate tremendous volumes. ripple.com/insights/a-win…
2. Second, payment structures across Africa aren't well connected w/ poor liquidity. Many Tx's are cross-border, but even domestic payments can be a challenge. ODL can offer a $701 mobile market cheap fast, reliable payments. ripple.com/ripple-press/r…
A lil' #Ripple partner mystery: 1. Payment Rails (Montreal), an API-first approach, enabled developers "to seamlessly add international payments to their platform, website or apps, giving access to global markets."
But then, they disappeared. paymentsjournal.com/payment-rails-…
2. In reality they just rebranded in 2021 as Trolley with "ambitions to drive payout-based growth..." and "progress in meeting the payout needs of a borderless, internet-based economy."
At the same time, they closed a $7m series A funding round.
3. Their P/R seems like a perfect place to use RippleNet:
"Trolley plans to leverage Pace Capital's investment to:
- Increase direct integrations w/ top ERP & accounting platforms
- Expand tax compliance beyond the US
- Add more local & instant payout options"
I cannot recommend it enough! Someone rec'd it here a few months ago and I've since reread it every few weeks. She deftly pokes holes at the mythology of Silicon Valley progress presenting itself as natural and inevitable and not deliberate choice and financial interest.
Here is a review of her book, "Teaching Machines."
(it's very good, too, book & review).
There is a lot buzz about the #XRP valuation model this weekend. Why?
Short version: Blackrock is investing in Coinbase & the head of Blackrock's Digital Asset div. has been Robert Mitchnick, one of 2 authors of an $XRP model from 2017, so lots of buzz.
Long version? -a lil🧵
1. Blackrock announced a partnership with Coinbase for institutional advisors to gain BTC exposure. This is big money. bloomberg.com/news/articles/…