Observation: #Ripple has actually doubled down on crypto, moving away from marketing themselves as a plain payments network. They used to advertise RippleNet w/ crypto options. Now they market themselves as crypto for enterprise, pushing the pay network off center stage. 1/3
If this isn't a change, it could be important corporate clarity. They are not one payments network among many, a Wise or Visa competitor. They are fundamentally about crypto, the XRPL in particular, and this is better reflected in the marketing now. 2/3
A lot of what #Ripple does is interpreted through the SEC lawsuit, with good reason, but this public product refinement looks more like leaning into the crypto world as a credible org than trying to present as a payments network using crypto. Is it more appealing to tradfi? 3/3
Note - the initial tweet shows the front page in 2021 and also today, if you're curious.
[shameless plug] Otherwise, there's this:
(Sadly, I know pundits will want to seize on these tweets & try to frame it as an indictment. That is not my point. The numbers bear otherwise. I am trying to observe what I hope is a refining process to be well positioned in the market.)
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Portfolio: #Ripple now lists Oceanus as a partner on their landing page. Announced as an ODL partner in November, who is Oceanus and why would they use an #XRP using product? (Starts slow but gets very interesting towards the end..)
🧵 in, uh, a few..
2. Let's get this out of the way upfront - the preceding pic is from their '22 Annual Report, as is most of this info. They went nuts with the "Ripple" theme, but they are an aquafarm co, so not a #Ripple advert 😅 links.sgx.com/FileOpen/Ocean…
3. They are a small global foodtech co, listed on the SGX, established, known for aquaculture; farming, processing, packaging, & distribution of seafood products. #Ripple announced a number of these xborder food trade co's as ODL users. For instance:
FRAMING: In Aug, #Ripple published "Payments by the Numbers Guide." that sets their course very clearly, presenting 3 use cases; remittances, SME payments, & Treasury Flows. Surprised this hasn't generated more discussion as it's illuminating.
1/10, but there are pictures.
2. The doc is straight to the point, using 3 partners to demonstrate 3 use cases for #RippleNet.
REMITTANCES = Tranglo
SME PAYMENTS = Novatti
TREASURY = Pyypl
3. This is important framing & clarifying as these are the major partner/investment annc's from the last couple of years that are using #RippleNet with #XRP. There are other partners of course, but these are the XRP users.
Portfolio: New #Ripple partner Star Dreams General Trading is located in Dubai, "a regional leader in the import, processing and export of agri commodities. " There's not too much to say from the outside looking in, but there are a couple of points.
🧵/7 stardreamsgtl.com/about-us/
2. Based in Dubai, by far the country serviced most is India (if I have accurate data). On it's own, this isn't remarkable, but given India's crypto ambivalence, it's a strong move to use ODL in corridors that might require INR? panjiva.com/Star-Dreams-Ge… reuters.com/world/india/no…
3. They also have shipped a number of places including Benin & UK, only interesting in light of #ODL because Benin uses the West African CFA franc (XOF). Eight African countries share this currency. You can find Columbia & Philippines, too. en.52wmb.com/supplier/67163…
Portfolio: Recently announced #Ripple partner Choice International (UK), is a co that supports money transfer businesses especially with de-risked nations requiring tight AML/KYC; places where liquidity is difficult. So how are they using ODL? 1/5 choicemoney.co.uk/about-us
3. Choice International also has a forex division, which seems like the most obvious ODL implementation. What is notable about their forex business is that they only facilitate tx's for tangible goods, b2b. -There is an invoice for every tx. choice-forex.co.uk/about
Can the XRPL represent the value of everything, all at once? Can $XRP be backed by gold? Both questions seem related to misunderstanding what $XRP is & how it functions, a boorish, simple🧵/14.
(Note: just condensing XRPL.org. All misunderstandings are mine.)
2. First, according to XRPL.org there are 2 types of assets on the XRPL. 1. XRP 2. Tokens.
That's it.
Two categories with different properties. Honestly could end the thread here. But I'm avoiding work, so here goes... xrpl.org/currency-forma…
3. $XRP is the ledger's native token. It can be sent anywhere, from anyone & receipt is settlement. Don't have to wait for anything more. It secures the network as payment of a very small (but traffic scaled) tx cost & a required reserve for an account.
Daily Davos Creeper thread; a collation of #Ripple news at the intersection of Davos (WEF) and the UAE. There's smoke, is there fire?
A 'lil 🧵 1/7
2. Let's start by noting the meta-discussion surrounding Brad's mention of #Ripple's status in the UAE. To the listener it seemed he believed alternate information about Ripple's UAE status, despite the UAE minister to his left asserting "You do not".
3. The UAE, at least in the press, was notably present, as are many countries, but it does seem they were making an effort, participating in seminars including sustainability, preparing for the future and crypto.
...in the Venn diagram, as they say. zawya.com/en/press-relea…