Ripple Says It’s Exploring DeFi – Here’s How XRP Could Join the Hottest Craze in Crypto

David Shwartz
"...One of the unique things that Ripple has is we have our software in the transaction flow of all these financial institutions and banks, so we can develop some new product or services, or even something that comes from the DeFi space, and we can offer it immediately right into the transaction flow of those institutions.”

https://dailyhodl.com/2020/07/17/ripple-says-its-exploring-defi-heres-how-xrp-could-join-the-hottest-craze-in-crypto/

This looks like what Polysign is going to compete with...and have thee advantage of storing any crypto securely.

There must be a lot of money in this if Fidelity got involved.

Financial Giant Fidelity Offers Bitcoin (BTC) Custody Solution for Retirement Accounts

https://dailyhodl.com/2020/07/15/financial-giant-fidelity-offers-bitcoin-btc-custody-solution-for-retirement-accounts/

Japan Should Urge US to Hurry Up With Digital Dollar Says Fisco Exec

https://cointelegraph.com/news/japan-should-urge-us-to-hurry-up-with-digital-dollar-says-fisco-exec

XRP and VeChain (VET) most undervalued according to survey

https://www.crypto-news-flash.com/xrp-and-vechain-vet-most-undervalued-according-to-survey/

Jack McDonald - CEO, PolySign, Inc.



"Jack McDonald is CEO of PolySign, Inc., where leaders from both the cryptocurrency and financial services spaces are building the global standard for institutional digital asset custody. PolySign is in early beta and will launch in 2020.

Prior to PolySign, Jack was CEO of Conifer Financial Services for a decade, where he grew AUA from $5B to $125B, culminating in a successful exit in 2016. Before Conifer, he was the Managing Director and Head of West Coast Equities at UBS Investment Bank.

Jack was named one of the ‘20 Rising Stars of Hedge Funds’ by Institutional Investor magazine and was inducted into Global Custodian magazine’s 'Legends of The Industry.' Jack is a graduate of Georgetown University's School of Foreign Service, and received his J.D. from Georgetown Law Center. He lives in San Francisco with his wife and family."

https://www.financial-planning.com/conference/invest-west-2019/speaker/jack-mcdonald

PolySign – SEC – Form D – Notice of Exempt Offering of Securities

https://thexrpdaily.com/2019/04/24/polysign-sec-form-d-notice-of-exempt-offering-of-securities/

Polysign: The Global Standard for Digital Asset Custody

https://coil.com/p/kenmelendez/Polysign-The-Global-Standard-for-Digital-Asset-Custody/Avb5TA0Aj

Just this aspect of what Ripple is doing is enormous. (Millions of SME payments monthly potentially).

Staying the Course in Remittances and SME Payments

"With the dramatic shifts in the global economy, digital payment services are playing an increasingly critical role for people worldwide. Today’s crisis highlights the need for the digitization of cash, access, speed and reliability—especially for those sending money home to loved ones.

Across the globe, digitalization has increased rapidly: as much as 80% in Italy, for example. Global digital payment growth is accelerating too, with e-transactions increasing over 40% and digital remittances spiking for several payment providers, including Western Union and MoneyGram International.

Digitization of global payments can’t come soon enough. The underlying infrastructure is siloed and complex, leading to significant delays and high transaction fees. To speed up this process, financial institutions pre-fund accounts in destination currencies—but this is a costly endeavor that ties up assets and exposes companies to currency risk.

Now more than ever, financial institutions need RippleNet’s On-Demand Liquidity (ODL) service to provide instant global payments and meet market demand. Sending cash payments requires more working capital and resources than digital payments. Because the digital asset XRP can be sent directly, instantly and cost effectively, without needing a central intermediary, XRP eliminates the additional costs associated with sending cash payments and can be used as an alternative to pre-funding. As a bridging tool in ODL, the greater the liquidity of XRP, the less cost and risk in each transaction.

ODL’s benefits for eliminating pre-funding are especially important during times of crisis due to the exposed risk and increased volatility. In the early months of the global crisis, currency volatility skyrocketed, with the MXN peso devalued at more than 20% against the USD, for example.

Ripple is able to alleviate the stress caused by pre-funding for our customers, enabling instant cross-border payments for consumers. They see the benefits of ODL as critical to their business—both maintaining and growing market share.

So, while the world changes around us, Ripple is staying the course. We are continuing to focus on supporting low-value, high-frequency payments with ODL—though transaction volume may look different in this new world.

In particular, we are reducing emphasis on large treasury payments—which are traditionally used to fund businesses and services in the absence of real-time transfers—to support individual, low-value transactions, addressing the growing need in remittances and SME payments. This may reduce overall ODL transaction volumes.

Still, because the benefits of ODL are so compelling for enabling the future of global payments, we anticipate businesses will support even more transactions than ever before on RippleNet, and new additional connections on the network will take shape.

Ripple is on track to open new ODL corridors this year and we’re onboarding new customers and working with existing customers to ramp up ODL volume in important corridors including USD-MXN, USD-PHP, AUD-USD and PHP, and from EUR-USD.

Businesses everywhere are adapting to the new “norm”. Yet, uncertainty remains a constant and Ripple is here for our customers and their customers. People shouldn’t have to worry when sending money abroad. Together, we can ensure that people everywhere have continued access to these services—instantly, reliably and affordably.

If you’re a financial institution interested in learning more about RippleNet’s ODL service and its benefits for eliminating the need for pre-funding, we want to talk."

https://ripple.com/insights/staying-the-course-in-remittances-and-sme-payments/

Yes. Here;s their link.

https://www.polysign.io/

Is Chainlink (LINK) a Bubble? On-Chain Data and DeFi Suggest Otherwise

https://cointelegraph.com/news/is-chainlink-link-a-bubble-on-chain-data-and-defi-suggest-otherwise

Imagine the long term capital gains taxes they must be paying.

They may have been thinking about the initial several years they'd have to sell XRP for a salary. XRP was $0.002802 USD (Jul 07, 2014).That equates to $14,000,000 for 7 billion XRP.
Maybe they weren't sure of XRP's success, or didn't expect it's rapid increase in price. (From .002 to .20 or so).
Not defending them, just wondering what they might have been thinking when they were still developing XRP in it's early stages.

Yes, some crypto investors don't like XRP because they claim it is too centralized; i.e. Ripple controls too much of it.
On the other hand, other investors don't like it when Ripple sells XRP; which is decentralizing Ripple.

I just personally prefer shifting a little decentralized XRP from Ripple to my controlled wallet.

The Mystery Behind 20 XRP Fee For Ripple Address

This is very interesting.

https://coinsutra.com/20-xrp-ripple-fee-reserve/

Yes XRP is sold to fund Ripple. The operative word being sold.

Ask yourself why do investors, banks, fund transfer services, etc. buy XRP.
Because the XRP ledger does charge a fee (XRP burn). That means the more it it used, the less XRP there are.

It will take a while, but as use cases grow (and they are rapidly growing), and XRP is used more and more (which is happening as transaction volumes and corridors are expanding), XRP will shrink in availability day after day. Contrary to BTC and other cryptos that can be mined.

It's a finite crypto with an unlimited burn rate.

And...is there a law saying that someday XRP will not turn on a "toll switch" to use it's corridors?

Ripple: Legendary blackjack pro predicts XRP price of $10,000

Interesting read...

https://www.crypto-news-flash.com/ripple-legendary-blackjack-pro-predicts-xrp-price-of-10000/

Chainlink (LINK) Becomes the ‘Tesla’ of Cryptocurrency — What’s Next?

https://cointelegraph.com/news/chainlink-link-becomes-the-tesla-of-cryptocurrency-whats-next

XRP grows in use cases and those respective customers every week. How many other cryptos do that? Yes, this is a long term play, but with the tide of use cases stacking up, along with the momentum of crypto acceptance, XRP will be everywhere used in hundreds of ways. That will require a lot of XRP to cover the landscape. The day will come.

Assets Outpacing Bitcoin (BTC) As Analyst Warns Altcoin Season May Face Abrupt Ending

https://dailyhodl.com/2020/07/12/cardano-and-xrp-join-list-of-crypto-assets-outpacing-bitcoin-btc-as-analyst-warns-altcoin-season-may-face-abrupt-ending/

CFTC wants comprehensive regulation of crypto within 4 years

The CFTC has unveiled its strategic plan for 2020-2024, including a push for a ‘holistic framework’ for crypto assets.

https://decrypt.co/35124/cftc-comprehensive-regulation-crypto-within-4-years

Meanwhile, we're still waiting for the feds to show up to work and do their job.

By "escalate the speed" I think he may be talking about Ripples's cloud option for ODL. They probably have new jurisdictions lined up.

"The San Francisco startup says all of the new customers are utilizing RippleNet Cloud, a recently-released cloud-based platform designed to help banks and financial institutions plug into Ripple’s network without the need to spend money on additional hardware or staff.

New or existing clients can use the cloud option to enable Ripple’s payment messaging system as well as its XRP remittance platform On-Demand Liquidity (ODL).

New RippleNet Cloud customers include BCRemit, an online money transfer service that facilitates payments between the United Kingdom and the Philippines; SpotOn Money, a UK-regulated remittance provider; Lulu International Exchange; an Abu Dhabi-based foreign exchange company; and OrbitRemit, a New Zealand-based money transfer provider."

https://dailyhodl.com/2020/06/17/ripple-signs-four-new-cross-border-clients-number-of-companies-utilizing-xrp-stands-at-14/

Santander Adds Several Available Regions For App in Partnership With Ripple

https://cointelegraph.com/news/ripple-teams-up-with-santander-on-international-payments

Linking DeFi & Gains

"...Chainlink, the 12th largest cryptocurrency by market value, clocked 200% year-to-date gains primarily driven by the crypto’s role in the DeFi ecosystem. “The market cap for DeFi projects have quintupled in the last half year, and most of the ecosystem is now relying on (or planning to rely on) Chainlink for connecting on-chain DeFi smart contracts to off-chain data feeds like commodities and crypto price data.“ This growth has decoupled link from bitcoin, which has gained only 29% so far this year, according to data source Coin Metrics."

https://www.coindesk.com/blockchain-bites-didi-digital-yuan

XRP is doing better than most other cryptos so far today.

Ripple Executive Issues Rare Statement on XRP Price and State of Crypto Markets

https://dailyhodl.com/2020/07/09/ripple-executive-issues-rare-statement-on-xrp-price-and-state-of-crypto-markets/

We'll see .21+ today. There's already volume over 61 million.

We need leaders to guide fintech on digital currency since the entire world is going that direction. Without it banks cannot invest heavily in changes.

Over 8% is a pretty good climb if you ask me.

Approaching 100 million volume.

I think BOA is getting close to announcing it's utilization of ODL. If that happens, XRP could get into double digit dollars quickly. Though there's a question of whether BOA will wait until the feds have regs in place, or lose patience and just promote the ODL time and savings improvements knowing they're too big for the feds to allow their failure.

Bank of America exec lifts lid on Ripple partnership

https://finance.yahoo.com/news/bank-america-exec-lifts-lid-140019347.html

If this rate of increase keeps up 2 more days, it'll be over $7.50 by end of Friday.

Welcome above the .20 mark again.

People might be starting to realize that there is no limit to the USD (or other countries currencies). They just keep printing trillions of dollars to meet demand. This naturally causes inflation.

But cryptocurrencies, like XRP, have a limit. They will never be increased. So the more inflation of the USD there is, the more valuable XRP becomes relative to the dollar. Limited cryptocurrency is inflation proof. Even more so than gold, because even gold is increased in availability every year.

It would cause enough curiosity for investors to start looking at XRP, that's for sure. So far, people don't invest in XRP because it never goes up, and the reason it never goes up is because people don't invest in it.

First Mover: Even Bank of America Acknowledges China Winning Digital-Currency Race

https://www.coindesk.com/first-mover-bank-of-america-china-digital-currency-race

Coinbase Exec Says Capital Will Flee US Due to Crypto Tax Laws

https://cointelegraph.com/news/coinbase-exec-says-capital-will-flee-us-due-to-crypto-tax-laws

XRP was over .20 just before 8:00am.

Ripple Executive Confirms XRP Remittance Platform Live in Europe, With Additional Corridors in Asia Likely This Year

“We have established On Demand Liquidity corridors into Mexico, the Philippines, Australia and Europe, and we’re hoping to further this expansion by opening corridors to APAC and EMEA this year.”

https://dailyhodl.com/2020/07/07/ripple-executive-confirms-xrp-remittance-platform-live-in-europe-with-additional-corridors-in-asia-likely-this-year/

Philippines' SEC just denounced the top Ethereum dapp as a Ponzi

https://decrypt.co/34640/philippines-sec-just-denounced-the-top-ethereum-dapp-as-a-ponzi

Right on MindlessSelf. Like I've said before, the bottom line best measurement of which cryptocurrency will succeed is the number of use cases; the problems it resolves. Some cryptos do very well at one thing or maybe a couple of things. VeChain is excellenet for blockchain supply chain tracking. LinkChain is great for linking oracles (legacy to blockchain).

But how many can be used for many uses cases that grow every day like funds transfer (incl. cross border) in seconds at almost no cost, payments between SMEs, gaming asset royalty fees, and monetization of video, music, and websites, or sending money directly from one account to another as easy as email (instantly and almost no fee), and on and on?

XRP isn't going away, but the one or two use case cryptos will be first to go.