Ripple Financial News

Industrial and Commercial Bank of China injected capital into its US unit to help pay BNY Mellon $9 billion for unsettled trades and hired a cybersecurity firm to enable it to resume normal business after a ransomware attack, sources familiar with the matter said. ICBC's US unit told market participants on Friday it was hoping to finish the cyber review over the weekend, but the sources said they expected it would spill into next week. Meanwhile, the bank is using manual processes to trade, they said.

Attorney John Deaton, representing XRP holders, has made a persuasive case in the Ripple vs. SEC legal saga, suggesting that the anticipated $770 million disgorgement for Ripple is improbable. He grounds his prediction on various influential factors that could sway the court’s judgment.

The CEO of blockchain company Ripple has some strong words for the U.S. Securities and Exchange Commission.

Ripple CEO Brad Garlinghouse believes there will be a flood of new capital pouring into crypto if a spot Bitcoin ( BTC) ETF is approved.

The Chief Executive Officer of Ripple, Brad Garlinghouse, has voiced his disagreement with the regulatory posture taken by Jay Clayton, who formerly served as Chair of the US Securities and Exchange Commission (SEC). This criticism surfaced in response to statements made by Clayton during an interview with CNBC on June 29, 2023. Clayton was discussing the SEC's more aggressive legal stance against corporations, especially those operating in the cryptocurrency industry.

SBI Holdings and Standard Chartered’s investment arm, SC Ventures, have joined forces to set up a $100 million joint venture in the United Arab Emirates targeting crypto startups.

The two-day event will bring together Indian companies and several dozen Walmart buyers from the United States to evaluate their products for export, with buyers offering real-time, on-the-ground deals and prospects. Aligned with Walmart’s commitment to annually source $10 billion of goods from India by 2027, the goal of the event is to partner with the Make in India initiative, increasing exports across categories where India has expertise including food, consumables, health and wellness, general merchandise, apparel, shoes, home textiles and toys.The event will further enhance Walmart’s efforts to support India’s ambition to develop the country’s supply chain to be a leading participant in global markets, bringing together the Walmart sourcing innovation team and India-based supply chain innovators.Andrea Albright, Executive Vice President, Sourcing, Walmart, said, “Walmart has long invested in India, and sees tremendous opportunity in continuing to expand exports with our existing suppliers while developing relationships with new ones.

The joint venture will focus on investing in companies across the digital assets spectrum including market infrastructure, risk and compliance tools, DeFi, tokenisation, consumer payments, and the metaverse. The parties intend to capitalise the vehicle with $100 million.Alex Manson, CEO, SC Ventures, says: “The region is fast becoming a hub for fintechs in the digital asset space due to its regulation, strengthening infrastructure and talent.

Onafriq is using Ripple’s crypto-enabled payments technology to open up three new payments corridors between Africa and the rest of the world.Customers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council, and Zazi Transfer in Australia can use the technology for remittance and business payments to recipients in 27 countries across Onafriq’s pan-African network.The firms say that their partnership will bring faster, more efficient, and cost-effective international money transfers to Africa, accelerating financial inclusion across the continent.Dare Okoudjou, CEO, Onafriq, says: “Our mission is to make borders matter less when it comes to payment within, to, and from Africa.

HSBC Holdings Plc plans to offer institutional clients a custody service for digital assets such as tokenized securities, the bank’s latest move in the new area of finance.

In this article

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________

Major global banking company HSBC plans to launch an institutional custody platform for tokenized securities, also known as security tokens.

Naor Gilon has urged Indians to light a “Diya of Hope" for the hostages held by Hamas since October 7. In a video posted on X, Gilon said that just as Lord Ram's return is celebrated on Diwali by lighting Diyas, a diya (lamp) must be lit in the hope of having our loved ones return. “240 of our loved ones have been held hostage by #HamasTerrorists for a month.

Crypto payments giant Ripple has partnered with fintech Onafriq for cross-border payments between Africa and the rest of the world.

Israel's ambassador to India has urged Indians to light a 'Diya of Hope' for the hostages from his country who are being held by Hamas since last month's assault. Condemning Hamas for its October 7 onslaught, Israel's Ambassador to India Naor Gilon has said that if the country is able to eliminate Hamas terrorists, it will also decrease chances of a ripple effect. Gilon posted a video on X and said that just as Lord Ram's return is celebrated on Diwali by lighting Diyas, a diya (lamp) must be lit in the hope of having our loved ones return. «240 of our loved ones have been held hostage by #HamasTerrorists for a month. Every #Diwali, we celebrate Lord Ram's return by lighting Diyas,» Gilon said. «THIS #Diwali2023 we invite you to light a Diya in the hope of having our loved ones return Tag us and share your photos using the #DiyaOfHope,» he said. He said that Israel waited for weeks and asked civilians to evacuate to the south, but Hamas used civilians as human shields. «If we are able to eliminate Hamas, if we get the time, it will decrease the chances that it will have a ripple effect.

Ripple will power new payment corridors between 27 African countries and Australia, the United Kingdom and the Gulf Cooperation Council (GCC) under a deal with African mobile payments provider Onafriq.

In November 2022, the cryptocurrency world was rocked by the collapse of FTX, one of the largest cryptocurrency exchanges. The collapse was triggered by a liquidity crisis at FTX, which was caused by a combination of factors, including mismanagement of customer funds and risky trading practices by FTX’s sister company, Alameda Research.

The XRP price has risen by 1% in the past hour, with the altcoin beginning to recover after suffering a 3% loss in the past 24 hours.

Morgan Stanley Senior Vice President Jim Lacamp gives his economic outlook on «The Claman Countdown.»

The US Security and Exchange Commission (SEC)’s losing streak in its ongoing lawsuit versus US fintech company and the creator of the XRP cryptocurrency Ripple Labs continued last week.