Ripple, the digital payment network, has partnered with the Republic of Palau to help the Pacific island nation develop its own digital currency. The initial focus of the partnership will see the development of a USD-backed digital currency to help facilitate cross-border payments for the nation. The collaboration “could see the implementation of the world’s first government-backed national stablecoin in the first half of 2022” according to Ripple's announcement. Ripple suggested the national digital currency may not necessarily be just another CBDC. “Ripple would provide Palau with technical, business, design and policy support. Meanwhile, exploring a USD-backed stablecoin and associated …

The long-standing feud between distributed ledger technology firm Ripple and the United States Securities and Exchange Commission (SEC) is nearing its end, according to Ripple’s CEO. Brad Garlinghouse highlighted the progress made in the case “despite a slow-moving judicial process.” Speaking to CNBC, he predicted that the Ripple case would likely conclude in 2022. “Clearly, we’re seeing good questions asked by the judge,” Garlinghouse said, adding his belief that “The judge realizes this is not just about Ripple, this will have broader implications.” Last year, the SEC charged Ripple with allegations of selling unlicensed securities in the form of XRP …

Ripple, the company whose executives have often criticized the United States’ seeming lack of regulatory clarity on the cryptocurrency industry, has outlined its own “pragmatic” framework. In a Nov. 16 post on its website, Ripple released its vision for a regulatory framework aimed at advancing innovation while protecting investors in the United States. According to the firm, regulators need to be encouraged to promote innovation sandboxes, some of the existing frameworks in the U.S. can be used to apply to cryptocurrencies, and there should be “an active dialogue between regulators and market participants.” Ripple advocated for the proposed measures as …

Bitcoin (BTC) price continues to weaken following the shakeout of the leveraged traders in the derivatives markets on Nov. 10. This caused the derivative funding rates to drop to the neutral territory of 0.01% across exchanges. Data analysis firm Arcane Research said in its latest weekly newsletter that the derivatives markets had matured compared to the run to the previous all-time high in April. The firm highlighted that the futures’ basis, the difference between Bitcoin’s spot price and futures price, which was at elevated levels in April have dropped much lower, “indicating a healthier market.” According to Bloomberg senior ETF …

Fintech firm Ripple has announced a new service aimed at finance companies that will allow them to offer cryptocurrency trading to customers. Ripple unveiled the Liquidity Hub service in a blog post on Nov. 9, touting a “crypto-first future” in which every company will need to have a strategy for crypto assets. The new service will target its enterprise clients giving them access to digital assets from a range of providers such as exchanges, market makers, and over-the-counter (OTC) trading desks. It is currently in the preview stage and will launch in 2022. Liquidity Hub will initially support Bitcoin, Ethereum, …

Nonfungible tokens, or NFTs, have been dominating the crypto market this year. With sales topping over $2.5 billion during the first half of 2021, it shouldn’t come as a surprise that both the crypto community and mainstream creators are launching NFTs in hopes of driving revenue and engagement. The rise of the Metaverse has also pushed the adoption of NFTs, demonstrating the value of nonfungibles for major brands and social media platforms alike. While NFT sales soar, the Ethereum blockchain continues to rule the space. For instance, a recent report from Cointelegraph Research found that Ethereum represented at least 97% …

If all goes to plan, Wrapped XRP (wXRP) will be coming to the Ethereum (ETH) blockchain next month, courtesy of Wrapped.com. The move is meant to enable XRP holders to interact with aspects of decentralized finance, or DeFi, such as executing smart contracts for use in borrowing and lending, swapping for altcoins, via their native tokens. Currently, the network can only handle sending, receiving, and holding XRP. Wrapped tokens are digital currencies stored in a digital vault and run on a separate blockchain. Notable wrapped tokens include Wrapped Bitcoin, which operates on the Ethereum blockchain, and Wrapped Ethereum, which converts …

Ripple chief executive Brad Garlinghouse has been airing his thoughts over the state of the crypto market and regulations, and a grudge over the financial regulator’s approach to Ethereum appears to have surfaced. Speaking at the DC Fintech Week virtual conference on Thursday, the Ripple boss declared that Ethereum had been granted a regulatory green light that enabled it to surpass his company’s XRP token. The United States Securities and Exchange Commission (SEC) has been pursuing Ripple over claims that Ripple (XRP) is an unregistered security. In January, Ripple filed a Freedom of Information Act request with the SEC demanding …

Crypto lenders are the institutions situated between consumers and the untamed, blockchain-based, and often unregulated space of cryptocurrencies. As such, they are in a peculiar position when it comes to responsibility towards their customers and the assets for which they provide services. Consequently, when choosing which currencies to support, lenders lead a delicate dance of responsibility, a balancing act between catering to popular demand and adding cryptocurrencies that are sustainable, worthwhile and safe. Demand vs. approval: The question of endorsement It’s unsurprising that in a nascent industry full of new investors, a lender’s asset integration is often taken for endorsement. …

Blockchain payments firm Ripple has announced a $44-million environmental, social and governance (ESG) joint venture partnership with fintech provider Nelnet Renewable Energy to fund the adoption of environmentally conscious solar energy initiatives across the United States. According to the announcement, the new fund is expected to offset over 1.5 million tons of carbon dioxide over 35 years, equivalent to the energy usage of 180,635 homes for one annum. In March 2021, Nelnet Inc. received a commendable E1 ESG accreditation from the S&P Global Ratings evaluation board for the former’s $9.9-million solar tax equity fund. The project entails the financial backing …

XRP has a good chance of hitting $1.50 in the fourth quarter of 2021 after painting a bullish crossover between its 20-day and 50-day exponential moving averages (EMA). The so-called golden cross has appeared multiple times on XRP charts in history. Its last occurrence was on Aug. 10, which followed up with an 80% price rally later, with XRP topping out seasonally at $1.43 before pulling back to the downside. Similarly, a close of XRP’s 20-day EMA above 50-day EMA on Feb. 4, coincided with an approximately 400% price rally afterward. In doing so, XRP reached a year-to-date high of …

Financial services company MoneyGram International has partnered with the Stellar Development Foundation to enable consumers to send money using Circle’s popular stablecoin, USD Coin (USDC), and convert directly to and from fiat. Per a Wednesday announcement, MoneyGram has integrated support allowing crypto wallets connected to the Stellar Network to access its global retail platform. Working alongside Circle, MoneyGram will also enable “near-instant backend settlement,” account funding and local fiat withdrawals using the USDC stable token. United Texas Bank will act as the settlement bank to complete the process within the regulatory framework. “As crypto and digital currencies rise in prominence, …