Tag: Ripple

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

boss

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…

Ripple Acquires Swiss Crypto Custody Platform Metaco for $250M as Part of Push toward Tokenization

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.…

Ripple acquires Swiss blockchain custody firm Metaco for $250M

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…

Court victory for Ripple as judge denies SEC motion to seal Hinman docs

boss

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…