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  • Cryptex Allocates 4.88 Percent XRP Weighting in US Digital Asset ETF Filing

    Cryptex Allocates 4.88 Percent XRP Weighting in US Digital Asset ETF Filing

    Cryptex Finance assigned a 4.88 percent weighting to XRP in an amended registration statement submitted to the US Securities and Exchange Commission for its proposed Digital Market Cap ETF. The fund, set to list under the ticker BAGZ, tracks a diversified digital asset index where XRP held a 4.36 percent baseline weight before eligibility screens.

    The filing includes language suggesting Ripple could retain higher quantities of XRP from its monthly escrow distributions if federal rules become clearer, directing those tokens toward liquidity for stablecoin and foreign exchange trading pairs. That language appeared without an attributed source or direct confirmation from Ripple representatives, drawing scrutiny from institutional market watchers and legal analysts who follow cross-border digital payment infrastructure.

    Escrow releases and market liquidity

    Ripple locked 55 billion XRP into 55 monthly escrow contracts of 1 billion tokens each to ensure predictable distribution. Under current ledger mechanics, the company cannot unlock tokens ahead of schedule, but it regularly decides how much of each released tranche returns to new escrow contracts. Historically, Ripple returns between 60 percent and 80 percent of each monthly 1-billion token release, keeping the remainder for operational reserves and institutional sales.

    Retaining a higher portion of monthly releases would expand secondary market circulating supply for cross-border liquidity rails. For digital asset fund managers and trading desks operating between Asia and North America, any shifts in circulating XRP balances directly alter transaction depth on major exchange corridors.

    Regulatory timeline for the CLARITY Act

    Cryptex tied its liquidity assumptions to legislative momentum around the CLARITY Act, a federal measure designed to provide an explicit regulatory framework for digital asset markets in the United States. The Senate Banking Committee cleared the bill in May on a 15-9 vote.

    Procedural action on the bill heads to the Senate floor in September, where broader legislative debate will determine whether digital asset issuers gain the regulatory protections required to restructure their asset distribution models.

  • Rippl launches Star Wars range in 7-Eleven

    Rippl launches Star Wars range in 7-Eleven

    Australian canned water brand Rippl has rolled out its Star Wars water range in 7-Eleven stores nationwide.

    The brand offers aluminium canned and bottled water in various customisable options for consumers and businesses. It sources spring water from Black Hill in Millbrook, Victoria, which boasts a natural alkalinity of PH7.8-8.0.

    In addition, Rippl features limited-edition can designs from popular brands and pop culture icons such as Disney, Star Wars, Jurassic World, Mattel, Hello Kitty, and more.

    Rob Hilton, MD of Mammoth Brands, the parent company of Rippl, said the brand aims to provide consumers and businesses with an “inspiring form of hydration” while prioritising sustainability.

    “Rippl Water is not just about drinking; it’s about making a statement with every sip,” said Hilton. “We aim is to offer a product that is both good for the planet and our customers.”

    Rippl Water x Star Wars is available for an RRP of $72 for a pack of 24 cans, and $96 for a pack of 24 bottles online and in 7-Eleven stores nationwide

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  • Google’s Ripple Could Bring Tiny Radars To Cars

    Google’s Ripple Could Bring Tiny Radars To Cars

    Google has been building radars for a while. Remember the ill-fated Pixel 4 smartphone which came with the project soli radar that was used for an advanced face unlocking system? That phone was ill-fated as it couldn’t be launched in many countries like India where the 60Ghz mmWav frequency spectrum was not available for public use. In fact, even before 2019’s failure with the Soli radar, Google had been building miniature radar chipsets since 2015. And now, it has its latest effort which isn’t in hardware form but a software platform called Ripple which is fundamentally an application programming interface (API) that allows the use of this technology outside of Google’s device ecosystem.

    Notably, Google is partnering with Ford with whom it already has a relationship for the use of the Android Automotive platform. Ripple was showcased behind the scenes at CES. Ripple will unlock helpful innovation that benefits everyone. General-purpose radar is a key emerging technology for solving critical use cases in a privacy-respecting way,” said Ivan Poupyrev, who was part of Google’s ATAP unit that developed the Soli radar as well.

    Ripple’s libraries have been added to GitHub and is also a rebranding of its Standard Radar API. Soli’s technology could be theoretically repurposed inside a car where it provides privacy benefits – as it can detect whether someone is present, nearby, or telling a device to do something without the need of a microphone or camera. Ford which has joined Google on this initiative hasn’t revealed its plans but has revealed it is looking at an internal radar.

    “We are researching how to use interior radar as a sensor source to enhance various customer experiences beyond our leading Ford Co-Pilot360 driver-assist technologies that use advanced exterior radars today. A standard API, with semiconductor industry participation, will allow us to develop software independent of the hardware sourcing and give the software teams latitude to innovate across multiple radar platforms,” Jim Buczkowski, the head of Research and Advanced Engineering at Ford.

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  • Ripple and Tranglo Expand Partnership

    Ripple and Tranglo Expand Partnership

    Its growing cooperation follows Ripple’s acquisition of a 40 percent stake in Tranglo to scale the footprint of RippleNet in APAC and beyond.

    Tranglo has launched its first live On-Demand Liquidity (ODL) service on RippleNet to enable instant and low-cost cross-border payments in the Philippines, with plans to introduce more ODL corridors in the months to come, Ripple said in a statement on Thursday.

    Tranglo has also established multiple fiat connections with existing RippleNet customers, including BKK Forex, DeeMoney and Siam Commercial Bank, which will allow it to process multiple currencies in Asia Pacific, including Philippines Peso and Thai Baht.

    Founded in Malaysia in 2008, Tranglo operates a cross-border payment hub that provides smart services for mobile airtime top-ups, as well as foreign remittance and business payments.

    The strong traction with Tranglo in the past 6 months alone is testament to how we’re executing well on our shared mission to transform the cross-border payments experience in Asia Pacific, a region which is often tricky to navigate, Brooks Entwistle, RippleNet managing director in APAC and MENA, said in the statement.

    Ripple noted that APAC is one of the fastest-growing regions for RippleNet, with transactions growing 130 percent year-over-year.

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  • New Ripple Acquisition to Enhance Cross-Border Payments in APAC

    New Ripple Acquisition to Enhance Cross-Border Payments in APAC

    Its investment in an Asia-focused cross-border payments specialist aims to address challenges associated with cross-border payments in Southeast Asia’s fragmented payments landscape.

    Ripple has acquired a 40-percent stake in Tranglo, which will allow the blockchain payments company to meet growing customer demand in the region and expand the reach of on-demand liquidity (ODL), the company announced on Tuesday.

    ODL uses digital asset XRP to send money instantly. As Ripple broadens its regional footprint, RippleNet customers using ODL will be able to leverage Ripple’s line of credit to free up working capital and scale cross-border payments into more markets, the announcement said.

    Southeast Asia is the fastest-growing region for RippleNet adoption, according to the company. Tranglo will play a «critical role» in supporting existing corridors, such as the Philippines, and introducing new ODL corridors within its current network.

    Founded in Malaysia in 2008, Tranglo operates a cross-border payment hub that provides smart services for mobile airtime top-ups, as well as foreign remittance and business payments.

    Following the completion of the transaction, which is expected later this year, Amir Sarhangi, VP of product and delivery at Ripple and Brooks Entwistle, the company’s new regional managing director, will join Tranglo’s board of directors. TNG Fintech Group will remain the majority shareholder in Tranglo.

  • DBS Mulls Crypto Exchange Launch

    DBS Mulls Crypto Exchange Launch

    DBS’ plans for a digital exchange are still work in process, and have not received regulatory approvals. Until such time as approvals are in place, no further announcements will be made. DBS is planning to launch a crypto exchange that will allow four digital currencies – Bitcoin, Bitcoin Cash, Etheerum, and Ripple – to trade against the Singapore dollar, Hong Kong dollar, Japanese yen or U.S. dollar, according to a report by digital asset media firm The Block. 

    Dubbed DBS Digital Exchange, the initiative was first unveiled through a website seen by The Block which cached the now removed website.

    Regulated by the Monetary Authority of Singapore, the crypt exchange will be made accessible to institutional investors, including financial institutions and market makers. Retail investors will have access via DBS entities like their securities or private banking arm.

    While most exchanges can execute orders at any time and any day, DBS will similarly follow the same trading hours as stock exchanges, allowing for less than seven hours per day, according to the report.

    In addition to standard trading, the bank will also provide institutional-grade custody solutions for safekeeping digital assets and, in due time, conduct security token offerings to help small and medium-sized firms raise funds.

    Digital assets are poised to be the future of tomorrow’s digital economy, the website originally read.

    With DBS Digital Exchange, a bank-backed digital exchange, companies, and investors can now leverage an integrated ecosystem of solutions to tap the vast potential of private markets and digital currencies.

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  • Ripple Shortlists Singapore for Move

    Ripple Shortlists Singapore for Move

    The blockchain payments company could leave the U.S. over lack of regulatory clarity. San Francisco-based Ripple is considering a move out of the U.S. as authorities there remain divided on whether to treat cryptocurrencies as a commodity, currency, property or security, according to a report on Thursday.

    The firm has shortlisted Japan and Singapore as potential destinations, along with Switzerland, Britain and the United Arab Emirates. The common denominator between all of them is that their governments have created a clarity about how they would regulate different digital assets, different cryptocurrencies, chief executive Brad Garlinghouse said.

    Ripple operates a blockchain-powered real-time gross settlement system, currency exchange, and remittance network. Japan is one of its fastest-growing markets, and works with Japanese financial conglomerate SBI Holdings in a joint venture offering global payment services driven by blockchain technology.

    Southeast Asia, however, is also an important market for the firm, driven by the advent and growth of digital banking in the region. Among the firm’s customers in the region are Siam Commercial Bank in Thailand, CIMB in Malaysia, and Nium, formerly known as InstaReM, in Singapore.

    In March, the company appointed a senior executive as head of Southeast Asia operations to oversee Ripple’s expansion in the region, and spearhead efforts to drive the growth of its customer base.

    In 2019, Ripple and the National University of Singapore opened the FinTech Lab, part of the company’s $50 million University Blockchain Research Initiative.

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  • Ripple Launches Academic Lab to Groom Talents

    Ripple Launches Academic Lab to Groom Talents

    The partnership with the National University of Singapore will bring together industry players, government agencies, regulatory bodies and educational institutions to develop and apply emerging technologies in the field.

    The School of Computing at the National University of Singapore and blockchain payments firm Ripple have come together to establish the NUS FinTech Lab, which aims to deepen knowledge and groom talent in the sector in Singapore, the two parties announced in a media statement on Wednesday.

    The academic lab is led by an industry liaison group comprising representatives from the private sector, government agencies and faculty members of NUS Computing.

    It plans to expose 1,000 students and industry professionals to fintech within one year through courses and programs open to NUS faculty and students, and those working in the field.

    NUS FinTech Lab is part of Ripple’s $50 million University Blockchain Research Initiative (UBRI) that supports academic research, technical development and innovation in blockchain, cryptocurrency and digital payments. The firm is working with six universities in Asia, including NUS, under UBRI.

    It will be a neutral space for dialogue and innovation that connects academia and industry, translating education into practice and generating tangible results, the statement said.

    The launch of the NUS FinTech Lab is a significant step toward recognizing the full potential of blockchain technology in finance and the real-world benefits of collaboration between academia and industry. Perhaps most importantly, the FinTech Lab will prepare students for the career opportunities brought about by continued technological advancements in finance, said Eric van Miltenburg, Ripple’s SVP of global operations.

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  • Singapore Payments Startup InstaReM Partners Thai Banking Group

    Singapore Payments Startup InstaReM Partners Thai Banking Group

    Digital remittance company InstaReM has partnered Thai banking group Kasikornbank in an agreement that would see the Singapore startup power cross-border payments for the bank’s clients in select markets, it announced in a press release on Thursday.

    This relationship further cements InstaReM’s position as a leading provider for cross-border transactions. With InstaReM, KBank clients will be able to realize faster turnarounds, while providing certainty on delivery times and payout amounts, Prajit Nanu, co-founder and CEO of InstaReM, said.

    “This is an important partnership for KBank at an exciting stage in our evolution. We are continuing to expand our cross-border payment capabilities into key markets across the world, as we are witnessing increasing demand from our customers.

    Kasikornbank is Thailand’s second-largest and Southeast Asia’s eighth-largest bank in terms of total assets, at $96.9 billion, according to data from Forbes. At $14.5 billion, it is also the country’s largest bank in terms of market capitalization.

    InstaReM, which has a presence in 40+ countries in Asia-Pacific, North America and Europe enables low-cost cross-border payments to 55+ countries. It has enhanced its payments capabilities by partnering global payments leaders like Ripple, Visa and First Data.

    In March, the firm announced the close of its $41-million Series C funding round, which will be used to support growth and expansion to new markets, including opening a regional headquarters in Latin America and expanding its teams in London and Seattle, the firm said. This brings the total funding InstaReM has raised to $59.5 million since it started operations in 2015.

    It is expected to receive licenses for Japan and Indonesia later this year, and continues to prepare for an initial public offering, planned for 2021.

  • SBI Ripple Asia’s Moneytap Opens in Japan

    SBI Ripple Asia’s Moneytap Opens in Japan

    Japanese banks has power over more than 80% of Japan’s money-related resources. Presently, those banks have started utilizing a purchaser driven retail installments application controlled by Ripple’s blockchain innovation. A consortium of 61 Japanese banks are presently utilizing Ripple’s blockchain innovation.

    The application is called MoneyTap. With MoneyTap, Japanese banks can perform less expensive, less demanding exchanges between themselves. The framework replaces Japan’s decades-old clearing house framework and is relied upon to promptly bring down expenses and conduct less demanding exchanges among Japan’s biggest monetary organizations. Any Japanese client can download the MoneyTap application today for iOS or Android. Purchasers can utilize it to finish free exchanges. We can consider it the Venmo of Japan.

    The news was affirmed by Ripple. Amid Ripple’s Swell meeting, the organization affirmed that three monetary establishments were at that point utilizing Ripple’s XRP-fueled xRapid innovation to encourage less expensive, less demanding universal exchanges. Swell’s Japanese savings association was first declared not long ago. Back in March, the organization declared that SBI Ripple Asia would utilize Ripple’s blockchain innovation to encourage residential bank movements in Japan.

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    The installment convention is MoneyTap. The application will empower constant, round-the-year residential cash exchanges between ledgers utilizing xCurrent, Ripple’s venture blockchain arrangement, as indicated by the SBI Ripple Asia site. The application can process installments utilizing a straightforward QR code. You can likewise enter the beneficiary’s telephone number to send installment. The MoneyTap application is accessible on the two iOS and Android.

    Be that as it may, three banks have particularly declared help for Ripple’s MoneyTap application, including Suruga Bank, SBI Net Sumishin Bank, and Resona Bank. Each of the three banks intend to utilize MoneyTap and xCurrent to encourage zero-cost exchanges between them.

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    Clients will pay to utilize the installment exchange convention is the point at which they’re asking for an arrival of assets. In that circumstance, members will be required to pay a little expense. Other than that circumstance, notwithstanding, MoneyTap will be free for Japanese saving money clients to utilize.

    In the interim, outside of Japan, Ripple has cooperated with Banco Santander to dispatch One Pay FX, which is likewise controlled by xCurrent.

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  • Japanese banks to offer instant money transfers using blockchain

    Japanese banks to offer instant money transfers using blockchain

    Japan will this month become the first major economy to launch a domestic payments system based on blockchain technology when three Japanese banks start offering customers free real-time money transfers via a new mobile app. The launch of the MoneyTap system, which secured approval for its licence from the ministry of finance last week, could be an important step in helping Japan to achieve its goal of reducing the use of cash, which still accounts for 80 per cent of transactions in the country. The new platform has been developed by SBI Ripple Asia, a joint venture between Japan’s SBI Holdings and US blockchain specialist Ripple.

    It will be launched by three of the country’s mid-sized lenders: SBI Net Sumishin Bank, Suruga Bank, and Resona Bank. Japanese banks charge customers about $3 to transfer even small amounts of money to other accounts via the Zengin domestic payments system, which only operates until 3pm on weekdays, meaning people often have to wait a day or more for money to arrive. That is much more expensive and slower than in many other countries. “We would like to change peer-to-peer and interbank payments in Japan, which are very inefficient,” said Takashi Okita, chief executive of SBI Ripple Asia and a former official at Japan’s Financial Services Agency.

    “The FSA is trying to reduce cash as a percentage of the economy and once people use the new MoneyTap system they will never go back,” he said. “The banking industry in Japan is still living in the non-internet era — even the banks realise they have to change.” Alipay, the mobile payments arm of China’s Alibaba, launched a service in June to provide a quicker and cheaper way for people to send money from Hong Kong to the Philippines over its GCash blockchain system using Standard Chartered as its banking partner.

    Ripple caused a stir in the payments industry in April by teaming up with Banco Santander to offer a service based on Ripple’s blockchain messaging technology that allows the Spanish bank’s customers in the UK, Spain, Poland and Brazil to send money in many currencies around the world. More than 100 financial institutions have registered with Ripple to use its blockchain-based messaging system, known as XCurrent, which allows banks to co-ordinate the transfer of money between currencies in seconds.

    The launch of MoneyTap in Japan will mean it is the first big country to have a blockchain-based system for transferring money between different banks. Mr Okita said SBI Ripple Asia had been working with a consortium of 61 Japanese banks on the new system and it hoped more of them would sign up to use it soon. He also plans to expand its offering to include cross-border payments. The MoneyTap app does not use Ripple’s XRP cryptocurrency, which is meant to be a cheap and universal bridge currency, providing an alternative to the expensive nostro and vostro accounts of correspondent banking. But Mr Okita said this option would be open in future to any banks that wanted to use it.

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  • Cryptocurrency Market Stabilizes at $500 Billion, While Bitcoin Maintains at $11000 Level

    Cryptocurrency Market Stabilizes at $500 Billion, While Bitcoin Maintains at $11000 Level

    The price of the leading digital currency keeps growing in value, positively influencing the entire cryptocurrency market.

    Bitcoin continued to move higher on Monday, after surpassing the $11,000 mark over the weekend for the first time since January. The cryptocurrency reached its highest level since last month at over $11,200 on Sunday, before falling to $10,350 by the end of the day. However, it rebounded on Monday to $11,050, showing a 5% gain.

    Thus, bitcoin has managed to recover from its two-month low of $6,000 recorded earlier this month and is currently trading at $11,186. Other major digital currencies have escalated as well. The world’s second cryptocurrency, Ethereum, is getting closer to the $1,000 level and is now standing at $940. The third cryptocurrency, Ripple, is trading at $1,14.

    The surge had a positive impact on the overall cryptocurrency market, which recorded a valuation of $502 billion on Monday. The last time it broke the $500 billion mark was in mid-December. At the time of writing, the total market cap is worth more than $501 billion.

    Cryptocurrency prices declined at the start of 2018, which according to analysts was due to bans on virtual currencies imposed by different countries. Several major banks, including JP Morgan Chase, Citigroup, and Bank of America, prohibited the use of credit cards for purchasing digital currencies, while South Korea recently banned unknown cryptocurrency trading accounts. Meantime, the US authorities have begun an investigation of the Bitfinex exchange over its links to Tether, which is rumored to being used to artificially inflate bitcoin prices.

    Still, the regulators in South Korea, which is the key market for cryptocurrencies, confirmed last week that they will allow digital currencies to operate in the country, what has been positive news for traders who feared a complete ban. According to HanKyoReh, the demand for the cryptocurrency is surging now, for the first time since the middle of January.

    Besides, analysts predict that bitcoin will continue its upward momentum. Tom Lee, the Wall Street strategist covering bitcoin, said bitcoin will reach $25,000 this year, while Saxo Bank’s analyst Kay Van-Petersen believes the digital currency will cost $100,000.

    According to a new report by S&P Global Ratings, institutional investors should not fear a collapse of the cryptocurrency market, as it is unlikely to disrupt financial markets. Investors, researchers say, would be better protected in case of a huge drop, while retail investors would feel the impact of the collapse the most.

    “We expect rated banks to be largely insulated, given that their direct or indirect exposure to cryptocurrencies appears to remain limited,” said Mohamed Damak, financial institutions sector lead at S&P Global Ratings. “For now, a meaningful drop in cryptocurrencies’ market value would be just a ripple across the financial services industry, still too small to disturb stability or affect the creditworthiness of banks we rate.”

    “We believe that the future success of cryptocurrencies will largely depend on the coordinated approach of global regulators and policymakers to regulate and enhance market participants’ confidence in these instruments,” Damak added.

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  • Japanese and Korean bank to test RippleNet for cross-border funds transfers

    Japanese and Korean bank to test RippleNet for cross-border funds transfers

    Japanese and Korean banks are to run pilot trials of real-time cross-border funds transfers over the Ripple network. The Japan Bank Consortium — a coalition of 61 banks in Japan, organised by SBI Ripple Asia — has announced the launch of a new Ripple pilot with Woori Bank and Shinhan Bank, two of South Korea’s largest banks.

    It follows the formation in September of of a partnership agreement with Dayli Intelligence, a subsidiary of Dayli Financial Group, which has previously acted with South Korea’s first blockchain consortium as well as the Ministry of Science and ICT.

    Under the terms of the trial, the Japan Bank Consortium will use Ripple’s settlement technology, xCurrent, to settle transactions between participating Japanese banks and Woori Bank or Shinhan Bank.

    The pilot solidifies the Japan Bank Consortium’s commitment to modernise payment systems — specifically in the Japan/Korea corridor where Korea is Japan’s third largest trade partner.

    “The Japan Bank Consortium’s pilot with Woori Bank and Shinhan Bank brings us closer to sending money in an important corridor,” says Emi Yoshikawa, director of partnerships at Ripple. “The use of RippleNet to send cross-border payments reinforces that financial institutions are ready to provide a modern payments experience and enable to the Internet of Value.”

    With interest in cryptocurrencies surging, the Japanese consortium has additionally created a virtual currency and blockchain working group to explore the institutional use case of alternative assets, such as Ripple’s own XRP, to source on-demand liquidity for these cross-border payments.

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  • Axis Bank enters blockchain alliance with Ripple

    Axis Bank enters blockchain alliance with Ripple

    Axis Bank, India’s third largest private sector bank, has entered a collaboration with distributed FinTech company Ripple to offer cross-border payments solution through Blockchain technology.

    Ripple is a blockchain-based financial settlements solution that aims to reduce the time and cost of transactions. Axis is the first bank in India to partner with Ripple.

    The technology can enable instant international money transfers, compared to the 3 – 5 day norm for international remittances, and improve efficiency of payments for Axis Bank through instant and automated reconciliation with partner banks.

    “We are committed to using innovation in technology to make banking simple and convenient for our customers,” said V Srinivasan, Deputy Managing Director, Axis Bank.

    “Remittances have been a key strategic area for us, we at Axis are excited with the tie-up and the potential that the use of Blockchain technology could deliver in enabling real-time affordable money transfers.”

    “Given its status as the fastest-growing major economy in the world and the top market for remittances, India is a very important market that is ripe for payments innovation,” said Brad Garlinghouse, CEO of Ripple. “As an early adopter of Ripple, Axis Bank will set a new standard for cross-border payments services and help us continue to grow our global network in a key region of the world.”

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