/biz/ - Business & Finance

>>25946232
i think Link's insider (42?) was one too

>>25945845
based. Malaysia's central bank representative (the lady with the shitty mic) was saying some stuff during the IMF cross-border payments conference that made it sound like they are one of the Ripple's main partners in Asia, along with Singapore and of course SBI in Japan.

The day before yesterday iirc SBI announced a payment/remittances platform with one of the main Thai banks that features settlement "in seconds" (i.e. XRP using ODL)

and don't forget this: ODL in Cambodia: https://www.crypto-news-flash.com/ripple-meets-central-bank-of-cambodia-sbi-asia-to-implement-odl/

and Ripple has a big presence in Singapore, indirectly working with the Singapore monetary authority via SBI and SIX: https://www.nasdaq.com/articles/sbi-teams-up-with-swiss-six-exchange-to-offer-institutional-crypto-services-in-singapore

and the phillippines: https://www.coindesk.com/ripple-affiliate-coins-ph-joins-new-remittance-network-reaching-unbanked-filipinos

(there was another, newer Ripple/phillippines payment company article but i can't remember the name, iirc CryptoEri made a video about it maybe like 2 weeks ago?)

long story short, Ripple is very big in Asia/SEAsia. I don't know much about their presence in China or S Korea, any anons heard anything about either of those countries?

Reminder that Ripple's legal team in the lawsuit against the SEC is being led by the SEC's former director of enforcement

good post from previous thread : anon lays out two possible scenarios for the Switch to be Flipped

reminder that Japan, England, Switzerland and Singapore already treat XRP as a currency (pic related)

>>25158143
Jed's wallet didn't sell any XRP for the first time in 1.5 years yesterday so people were speculating that it's because of some new restriction

which gave rise to FURTHER speculation that perhaps there would be a stop to new XRP entering the market from Ripple and/or Jed

which itself gave rise to YET FURTHER speculation that this lack of liquidity in the market would lead to a rise in demand corresponding with a lack of supply which would in turn cause the price to rise

Reminder that 95% of Ripple's customers are outside the US and so the SEC lawsuit will have a "minor impact" on the implementation of XRP as the bridge currency between CBDCs

For evidence please see this official press release from SBI bank (which has lately worked with the Swiss National Bank and Bank of International Settlements in establishing an institutional digital asset custody project in Singapore, working with the Singapore Monetary Authority)

http://www.sbigroup.co.jp/news/2020/1224_12259.html

>>25154547
that's dumb and not at all what i said. it is silly to think that two funds which total like $2 billion will have an influence on the entire system.

read this press release from the chairman of SBI bank:
http://www.sbigroup.co.jp/news/2020/1224_12259.html

In addition, more than 90% of Ripple's customers are outside the United States, and 80% of the volume of international remittances made using the company's solutions occur outside the United States.

Based on the above, we believe that the impact of this matter on the consolidated financial results for the current fiscal year will be minor.

>impact of this matter...will be minor

I think SBI bank (who work with trillion-dollar corporations and central banks in Japan, Singapore, Switzerland) might be a little better-informed than some venture capital firm in the US that's probably heavily invested in BTC ETH and other XRP competitors anyway

>>25135180
tldr nothing has changed, XRP is still The Standard

>>25132974
obviously On-Demand Liquidity has not yet been used on the open market, but each of their partner banks have participated in closed-system sandbox testnets where they tested the technology and found it satisfactory.

However, there are two notable exceptions to this rule: the first, conducted by the Swiss National Bank, Bank of International Settlements (aka the central bank of central banks) and Swiss digital asset firm SIX (a Ripple partner), was successful and concluded last month:

https://www.financemagnates.com/cryptocurrency/news/bis-announces-successful-testing-of-cbdc-project-helvetia-with-snb-and-six/

note that SIX is currently partnering with early Ripple investor SBI bank to create a digital asset custody institution in Singapore:
https://www.nasdaq.com/articles/sbi-teams-up-with-swiss-six-exchange-to-offer-institutional-crypto-services-in-singapore

the other time XRP's ODL was tested on the live real-world market was by SBI bank in early november. it is speculated that this was what led to XRP's pump from about .30 to about .75 or .80

https://dailyhodl.com/2020/11/07/financial-giant-sbi-to-test-xrp-in-6-6-trillion-foreign-exchange-market/

Note that SBI bank was an early investor in Ripple, owns 8.7 billion of the 100 billion XRP, and also was invested in by the Edmund De Rothschild investment fund several years ago.

SBI's CEO, Yoshitaka Kitao, who sits on Ripple's board of directors, is the chief economic advisor to Japan's prime minister. (pic related)

the other, conducted by Ripple partner SBI bank in conjunction with Japanese multinational super-conglomerate Sumi

>>25072968
Kitao-san is a man who says trust the plan, i'm a fan

What the fuck?! The SEC picked ETH and BTC as the winners? We're actually gonna make it bros? Is this true?

>>25069953
Ok rajeesh

right now the US government faces a decision: do they want to remain the pre-eminent global economic superpower, or do they want to relinquish their position and accept the transition to a multipolar system in which they are equal or subordinate to China and the EU

very smart people created Ripple, with very powerful friends in government, business and the financial world. those people realize the ramifications of this lawsuit, and will not allow XRP to fail. make no mistake, this lawsuit is much bigger than Ripple, it is about the future of the global economic system.

>>25068241
Nope

based kitao san

Are you fudders robots? Serious question because you all act pretty fucking retarded, especially when debunked. America NOT Needed.

>>25041055
>Japan and sbI doesn’t matter hurdur
They hold 8.7% of the supply
Testing it in trillion dollar markets
Declare it not a security
>But America HA The SEC
You all sound so fucking retarded LMAO.

You guys are riding this fud so hard, it’s been a while since discord shills popped up.

Xrp 2k eoy you’re all retarded for fudding xrp

>>25042197
Go fuck yourself retard

>>25041212
How’s it feel to be a retard? This Russian faggot wishes eth was like xrp.