Tag: Ripple

Ripple Joins Dispersion Capital’s $40M Decentralized Infrastructure Fund

The focus of the Dispersion Capital fund is to promote decentralization which is at the core of Web 3.0. American financial technology company Ripple Labs Inc which recently launched a CBDC platform has joined other investors to generate funds for a newly created decentralized infrastructure fund by venture capital firm Dispersion Capital. Dispersion Capital recently launched a $40 million first fund to boost Web 3.0 infrastructure that transcends protocols and networks as it seeks to deepen its foothold in the evolving industry. Notably, some of its investors are also from…

Ripple scores against SEC, blockchain adoption in China and South Korea, more ETH staked| Weekly recap

This week, a judge adjudicating the ongoing Securities and Exchange Commission (SEC) versus Ripple, the blockchain company, issued a landmark ruling. At the same time, Ripple announced crucial strategic expansions. Also, the number of staked ethereum (ETH) rose to record highs. Meanwhile, crypto adoption rate remained considerably high despite ongoing regulatory considerations. The crypto scene was also flushed with apprehensions concerning Ledger’s recently introduced seed recovery feature. Ripple secures landmark ruling On May 16, Judge Analisa Torres, the US district judge overseeing the lawsuit between Ripple and the US SEC,…

Ripple to showcase tokenization with new CBDC platform in Hong Kong

Ripple, a leading crypto solutions company, has announced its participation in the digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program initiated by the Hong Kong Monetary Authority (HKMA). As part of the program, Ripple will showcase a real estate asset tokenization solution and unveil its new CBDC platform. The company will collaborate with Taiwan’s Fubon Bank and other partners to demonstrate equity release using tokenized assets through a retail version of the e-HKD CBDC. Equity release, commonly known as a reverse mortgage, enables homeowners to access…

Ripple and SEC seek extension for unsealing Hinman documents

On May 19, James Filan, a defense attorney and ex-federal prosecutor who has been closely monitoring the Securities and Exchange Commission (SEC) vs. Ripple case for the past few years, shared an update regarding the potential unsealing of the Hinman documents for public access. According to a tweet, the SEC and Ripple Labs have filed a “Joint Letter for one week extension, until June 13, 2023, to file public, [redacted] versions of cross-motions for summary judgment and accompanying exhibits, which includes the Hinman materials.”  “public, redacted.” — James K. Filan…

SEC and Ripple seek extension for filing unredacted cross-motions

Parties in the ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple over XRP have submitted a joint letter requesting a one-week extension, until June 13, 2023, to file public, unredacted versions of their cross-motions for summary judgment and accompanying exhibits. The joint letter encompasses the highly anticipated Hinman materials, adding to the intrigue surrounding the case as both sides prepare their arguments for a decisive legal showdown. A joint request The statement means that the involved parties in the legal dispute, namely the Securities and Exchange…

Ripple launches CBDC and stablecoin issuance platform

Ripple, a leading crypto solutions company, has introduced the Ripple CBDC Platform, a comprehensive solution for central banks, governments, and financial institutions to issue their own central bank digital currencies (CBDCs) and manage the lifecycle of fiat currencies. Barely 24 hours after purchasing a controlling stake in Metaco, a Swiss-based firm specializing in tokenization and digital asset custody, Ripple, the fintech firm in charge of the XRP altcoin, has launched a new stablecoin and CBDC issuance platform. With over 90% of countries actively exploring CBDCs to enhance financial inclusion and…

Crypto Custodian M&A Likely After Ripple Deal, Says Advisory Firm

Traditional finance custodians such as Northern Trust and BNY Mellon have been wary of entering the crypto market due to the regulatory and market risks, but Architect Partners expects that to change in the future, which would represent “both a threat and an opportunity for those building specialized digital and crypto asset custody businesses.” The crypto winter has also put pressure on custodians and has slowed or stalled growth of assets under custody, leading to flat or declining revenues and recruiting financial staying power and conviction that an upturn is…

Ripple Labs Debuts CBDC Platform for Central Banks

The CBDC Private Ledger, according to Ripple, will handle tens of thousands of transactions per second. Popular blockchain payments firm Ripple Labs Inc is set to launch its own Central Bank Digital Currency (CBDC) platform, which will allow central banks, governments, and financial institutions to issue digital currencies. The news comes shortly after Ripple and the Central Bank of Montenegro agreed to collaborate on the development of a pilot project for a national digital currency. This platform’s goal is to equip Central Banks with the technology and infrastructure required to…

Ripple to demonstrate tokenization in HKMA e-HKD pilot program using new CBDC platform

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Ripple will participate in the Hong Kong Monetary Authority’s (HKMA’s) digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program by showcasing a real estate asset tokenization solution. The company will reveal its new CBDC platform at the same time.  Ripple will partner with Taiwan’s Fubon Bank and others to demonstrate equity release with tokenized assets using a retail version of the e-HKD CBDC. Equity release, also known as a reverse mortgage, is the practice of a lender letting a homeowner access the equity in their home, with…