Using Ripple’s platform government institutions can manage and customize the entire life cycle of the CBDC, which includes minting, distribution, redemption and token burning. Financial institutions would also be able to manage and participate in inter-institutional settlement and distribution functions using the CBDC. Source
US remittance system Ripple acquired Metaco to leverage the company’s resources and entrench itself in the emerging crypto custody market. Ripple has acquired Swiss-based Metaco for $250 million as part of the remittance network’s expansion into institutional crypto custody. The acquisition also comes amid a favorable ruling for Ripple in its ongoing lawsuit with the Securities and Exchange Commission (SEC). Ripple’s acquisition of Metaco underpins the US-based tech platform’s faith in the tokenization space. Speaking to Decrypt, Ripple’s head of custody Sagar Shah predicts that the institutional crypto custody market will hit $10 trillion by 2030.…
On May 17, Ripple, creator of the namesake payments network and XRP token, announced it had acquired Swiss digital asset custodian and tokenization provider Metaco for $250 million. With the acquisition, Ripple says it will expand its enterprise offering to custody, issue, and settle tokenized assets. The firm’s developers wrote: “Metaco will dramatically accelerate its growth trajectory through access to Ripple’s established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients.” Ripple estimates the institutional crypto custody…
The purchase will allow Ripple to expand its offerings by incorporating the technology to custody, issue, and settle tokenized assets. Metaco offers customers crucial and secure custody infrastructure, allowing institutions to scale new business models in the crypto economy. Source
A motion from the United States securities regulator to seal the controversial Hinman documents has been denied — a move that has been seen as a win for the Ripple and crypto community. Judge Analisa Torres for the U.S. District Court ruled that the documents are “judicial documents” subject to a strong presumption of public access. Excerpt from Judge Torres’ ruling. Source: USDC “The Hinman Speech Documents “would reasonably have the tendency to influence [the Court’s] ruling on a motion,” she added. Judge Torres also said the court is rejecting…
“As Judge Netburn found in her order dated January 13, 2022, the Hinman Speech Documents are not protected by the deliberative process privilege because they do not relate to an agency position, decision, or policy,” Torres wrote. “Therefore, sealing these documents would not be related to preserving ‘openness and candor’ within the agency, nor would such an interest be substantial enough to outweigh the strong presumption of public access.” Source
The Dubai government’s official media has praised the blockchain company Ripple as a leader. The recent spotlighting is coming shortly after the firm launches its new business office in the country. Dubai Government’s Media Office Spotlights Ripple The official media Twitter page of the Dubai government spotlighted the blockchain company behind the crypto asset XRP. The tweet recognized the firm as a prominent player and a master in enterprise blockchain and crypto solutions. The government’s media office praised while responding to the expansion move into the country. It further highlighted…
Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still going to be unclear. And the whole crypto industry needs regulatory clarity in the U.S. to really thrive,” said the Ripple boss. Ripple’s CEO Shares New Info on SEC Lawsuit Over XRP The CEO of…
Ripple is opening an office in the heart of Dubai International Financial Centre (DIFC) and acquiring Swell Global 2023. Ripple, one of the most popular cryptocurrency firms, has announced its expansion in other countries. The company is all set to expand to Dubai, according to Chief Executive Officer Brad Garlinghouse. Garlinghouse also disclosed the development at the Dubai Fintech Summit that is happening today and talked passionately about the customer base in the Middle East. According to him, the regulatory operations have made the country a good choice for setting…
Garlinghouse expects the Judge to issue a summary ruling on the SEC vs Ripple case before the end of this year. The SEC vs Ripple Labs lawsuit is slated to be one of the largest legal fights for blockchain and cryptocurrency development in the United States for the next decades. Already, hundreds of projects on Ethereum using the ERC-20 standard, and other Layer One blockchains that undertook initial coin offerings (ICO) in the United States are eagerly waiting for the final ruling by Manhattan District Judge Analisa Torres. From the…