The ongoing case between fintech firm Ripple and the United States Securities and Exchange Commission took another turn this week when the company was granted access to Binance’s documents. U.S. Magistrate Judge Sarah Netburn granted Ripple CEO Brad Garlinghouse’s motion to “obtain international discovery” of Binance records. According to the docket, the approval was made on Tuesday while a duplicate request was denied: “ORDER granting 274 Letter Motion for Discovery. The Court will communicate with counsel to arrange delivery of the letters.” As part of the case against Ripple for selling unregistered securities, the SEC claims that Garlinghouse sold more …

XRP’s price swung higher on Wednesday as its parent company, Ripple, entered an agreement with SBI Remit to back a remittance corridor from Japan to the Philippines. Positive news boosts XRP’s price The Ripple blockchain’s native cryptocurrency, also ranked as the sixth-largest digital asset by market capitalization, reached its one-month high of $0.759 after rallying 17.73% intraday. At a monthly low, it was changing hands for as little as $0.514. The bullish boost came over a partnership between Japan’s largest money transfer provider, SBI Remit, and Philippines-based mobile payments service Coins.ph. With additional assistance from SBI’s digital asset exchange platform, …

Showcasing the use of cryptocurrency in monetary transfers, Ripple has become a known partner for traditional institutions that wish to revamp their cross-border remittance services. Taking this vision further, Ripple announced a new partnership with Japan’s SBI Remit to transform remittance payments from Japan to the Philippines. Ripple’s latest partnership will see the involvement of mobile payments service Coins.ph and digital asset exchange platform SBI VC Trade to provide a cheaper remittance option to its customers. This will be made possible by using XRP to eliminate the pre-funding costs. According to the official statement, Japan’s first On-Demand Liquidity (ODL) service …

Visa officially announced on Thursday that it had signed a definitive agreement to acquire Currencycloud, a fintech platform supporting about 500 banking and technology clients across more than 180 countries. The new acquisition aims to improve Visa’s foreign exchange business and expand them to serve financial institutions, fintechs and partners. The deal will specifically improve Visa’s payment transparency and speed, the company’s global treasurer Colleen Ostrowski said, stating: “The acquisition of Currencycloud is another example of Visa executing on our network of networks strategy to facilitate global money movement. Consumers and businesses increasingly expect transparency, speed and simplicity when making …

Most crypto enthusiasts are less than pleased with the United States Securities and Exchange Commission’s past approach to crypto. This is not because legitimate businesses oppose regulation but because of the breadth, complexity and uncertainty associated with the current regulatory regime. Even in the context of general discontent, few actions by the SEC have engendered as much widespread criticism as the Dec. 22, 2020 complaint that initiated a civil enforcement action against Ripple Labs and two of its executives. Not everyone opposed the action. For example, Coin Center, a pro-crypto nonprofit advocacy and research group, declined to argue against the …

San-Francisco-based fintech firm Ripple has notched up another small victory in its ongoing battle with the United States Securities and Exchange Commission. U.S. District Court Judge Sarah Netburn has denied the SEC’s motion to suppress the deposition of the former director of the SEC’s Division of Corporation Finance, William Hinman, in a ruling in New York on Thursday. In June 2018, Hinman said in a speech that based on his understanding of the Ethereum network and its decentralized structure, the “current offers and sales of Ether are not securities transactions.” The deposition may add more weight to Ripple’s claim that …

An oversubscribed funding round has netted the Mintable nonfungible token (NFT) minting platform and marketplace a cool $13 million. The Series A funding round for the Singapore-based startup included some big name participants including Ripple, mobile and blockchain gaming developer Animoca Brands, and Metapurse, the world’s largest NFT investment fund. Ripple put out an announcement stating that Mintable plans to integrate the firm’s own blockchain, XRP Ledger (XRPL) which it says is already carbon neutral and is “ideally suited to deliver a seamless experience for NFTs”. "Its environmentally friendly attributes will allow billions of NFTs to be minted, bought and …

Ripple blockchain’s native token, XRP, could make a full bearish price swing against Bitcoin (BTC), per a classic technical indicator. Dubbed as Head and Shoulders (H&S), the pattern develops when an asset forms three peaks atop a common baseline. The outside peaks, known as Shoulders, are close in height, while the middle one, called the Head, is the highest. The H&S pattern is completed when the asset breaks below its baselines support, with high volumes, confirming a negative breakout. The so-called neckline also serves as the most common entry point for bearish traders as they target deeper downside levels. Though …

Ripple has scored another win in its ongoing legal battle against the United States Securities and Exchange Commission as the court has denied the SEC access to Ripple’s legal advice. Magistrate Judge Sarah Netburn of the District Court for the Southern District of New York ruled Sunday to deny the SEC’s motion to compel Ripple to produce memos discussing XRP sales with the firm’s lawyers. According to the SEC, Ripple could have been aware that XRP could be a security from its legal advisors before moving forward with its token sale back in 2013. The SEC filed a motion on …

XRP’s price soared 260% in April, moving from $0.57 on March 31 to $1.97 on April 14, its highest level since January 2018. The move caused XRP futures to reach an impressive $2.1 billion in open interest. However, on Wednesday, as cryptocurrency markets collapsed, XRP lost 60% in four days, liquidating $510 million of long positions. The futures open interest retraced to $550 million, roughly the same level from early February when the altcoin traded near $0.40. Investors are now questioning whether XRP futures will ever be able to recover to a multi-billion-dollar market. Were April’s figures inflated by excessive …

Dogecoin (DOGE) is surging, and Bitcoin (BTC) is limping, but one analyst predicts that this week will burst the DOGE bubble. In a series of tweets on Tuesday, popular Twitter account Lowstrife highlighted similarities between Dogecoin and XRP among warning signs that “the end” is nigh. “Final push” As Cointelegraph reported, DOGE/USD has continued to climb this week, reversing previous losses to take out its previous sky-high peak of $0.47. Year-to-date, the pair is up 7,000%. With major proponent Elon Musk due to make his promised appearance on Saturday Night Live as “The Dogefather” on Saturday, however, that date is …

Major cryptocurrency company Ripple has not given up on its plans to go public despite its ongoing legal battle with United States regulators, according to SBI Group’s CEO. Yoshitaka Kitao, CEO of Japanese financial giant SBI Group, claimed that Ripple plans to become a public company after the firm settles a legal action brought against it by the United States Securities and Exchange Commission. Speaking on a Wednesday earnings presentation call, Kitao said that both Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen are planning to take Ripple public: “After the current lawsuit, Ripple will go public. The current …