They did. Very clever. Now they don’t have to buy them back. There was always a plan 😂😂😂 Meanwhile those .44’s are already paying off. What a wild wild Monday.

Ok. So I DID bump into my neighbor again tonight and as usual it’s late BUT I will retract my last statement. Here’s the deal.

OV Loop would NOT act as your point of sale. What they are is a hard wallet for individuals to use (like us). You would have access to participating companies rewards programs / online mall / DOES include peer to peer payment (real time settlement) … and IF YOU USE THE DEBIT CARD associated with the wallet for payments THEN participating companies would only pay a 1.99% processing fee vs the 3 - 4% most cards charge because all processing would be done unencumbered from CC rails.

But HERE’S where it gets interesting. He did mention OV Loop is involved in an antitrust lawsuit against the major CC companies (we are down to like 2 now that Discover may be being bought out which does not bode well for the future if that happens). If they win the case THEN they would be able to have any card linked from any bank and still be able to maintain the 1.99% processing fees because it would all be done in a closed loop system. It would all be done without using CC rails and … and I quote “CC companies are terrified of this disruptive technology,” I did ask if they are using crypto to make any of this possible. He said the only thing crypto related is the encryption on the file folder in the wallet for private information. But this still all seems like it’s pointing in one direction.

Is this more or less interesting? Only time will tell. Thoughts?

Those cheapies at .47 last week are already making money 😂😂 All I can say is IF OV Loop keeps fees so low there’s only one way they can do that. And if they accept any credit card at a POS (not just their own) then banks much better closer to using it then we think. Or it’s just traded out before the final step. I need to see tho kid again to find out more lol.

So it’s like the wallets are for individuals / the POS aspect is for companies / and the wallet merges it all together. We also use pop menus for a lot of the things this wallet / pos could do. I think we are going to wish we had heard of it sooner 😂😂

Yes. So if you download the wallet there’s like an online mall where participating companies can set up rewards points / email blasts / any marketing campaigns / anything they want. It’s pretty innovative.

Anyone can use it as a POS system and he said it was far cheaper than any competition on the market. Because of our integrations it’s impossible for us to switch technology for so many reasons. However … anyone without these restrictions would be crazy not to. 3 of the owners spent the last 4 days in DC working on legislation for CC fees and minimum wages. Servers just made $50 / hour Tuesday night and $45 / hour on a Wednesday night. People don’t realize how detrimental wage legislation would be to restaurants in this arena. Especially as servers almost always make more than the proposed minimum.

It’s a banger …

Ripple, Brad Garlinghouse on Fox this morning, talking stable coins and pushing for US regulators to step up. pic.twitter.com/uCqwWj5paa

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) April 18, 2024

And don’t get me wrong. I don’t know anything about their product. Someone on StockTwits said it had a low rating. And that may be the case. All I am saying is it has a certain demographic … has a SHIT LOAD of cool features (from a company & individual user standpoint) but there is no doubt when he said peer to peer payment and made the point to reiterate how it was done. If you saw his face when I asked him about XRP. Now this could be nothing. Maybe I am reading into it a little too much. But this isn’t some fluff hit piece about rails being build in another country. This is right here. Could be nothing. Could be the beginning.

It’s been a WHILE since I’ve made any contributions of substance to the page so I made sure to get the tea. So here goes.

So Sunday I am returning home from 2 days of camping and I see my neighbor pull up. He’s taking tables out of his car and I immediately say “Please God … not a marathon party.” Turns out he was doing an event for a small fintech he’s been working at the last two years. OV Loop. Took me by surprise as I’ve always known him as a marine tech. This was a new gig and mentioned it may be something I’d be interested in.

So he mentioned the restaurant may even be interested using them as a POS. I told him we’ve invested a lot of time and energy into Toast and integrated it heavily with Restaurant 365 for invoicing / inventory / blah blah blah. But would listen to the pitch.

Basically … they run super cheap. But he did mention they can do VIP programs etc etc etc. (some things we would be very interested in) so he pulls out his phone and shows me the wallet they created and all of the cool things it can do from the customer side (as in the restaurant). And it’s cool as hell. But I explain I don’t make those decisions but would see if I could put him in touch with the right people.

But then he switched gears and focused on the wallet itself. It does have an e CC with a cvv code that changes every time you use it (virtually impossible to duplicate). Has a fob for your keys which can be used for 3 transactions without the phone nearby. Can be used to swipe or tap and pay (which by the way is ONE of the things this company created. Tap and pay). The fob can locate your phone … your phone can locate the fob with gps … and if you lose the fob you can disable it from your phone. All wild.

So I notice some of the customers on the wallet. Lulu lemon and Jaho coffee. You know Jaho he asked? I’m like sure they have that amazing coffee shop in Salem, MA and like two others in the Boston area. Jokes on me … turns out they are huge … in Japan … and are a major client of theirs.

THEN he tells me the most interesting thing. “If you have a wallet and I have a wallet … we can make peer to peer payments.” And I said “Cool … like Venmo or PayPal,”. And he said kind of … but these payments “settle in real time.” There’s no waiting period and it’s not messaging / IP based. So I said “That’s wild. I know you aren’t doing that with BTC or ETH. There’s only one token created for real time settlements.” He froze. Like immediately. He said OH so you know crypto. Well this wallet definitely does have a demographic … and even if the restaurant doesn’t want to use us as a POS you would love it. One cool feature of the wallet is it has an encrypted folder that only you know and can be used to store all of your passwords. So you don’t need tons of little seed phrases in a fire safe box (I had been seen). He went on to say you can store all of your phrases here and only have to remember one for the folder and blah blah blah. But he had already told me the good part.

Peer to peer real time settlements. One of their biggest clients are a major player in Japan (makes sense). We both joked about how far behind the US is falling. But super low transaction fees. What would make all of this possible. I have to talk to him again soon and will let you know what I hear. But I think we all heard the same thing.

Well you can download the wallet from the iStore. They have an encrypted credit card whose CVV changes with every purchase making it virtually impossible to use. Its pos is awesome for companies BUT the wallet is also awesome for users like us. It can even do peer to peer payments unlike PayPal or Venmo because … and I quote … the payments happen in real time settlement. Not IP messaging and no waiting for payments. Real time.

It’s bigger than that. I am downloading the OV Loop wallet from the App Store today. Regardless of how this conversation / story goes it’s definitely worth looking at.

It’s a great story. Apparently they are the company that developed “tap and pay”. They have an application for businesses and then an application / app / encrypted credit card (cvv code changes with every purchase so it’s like impossible to steal). I was approached about using it as a POS system for the restaurants but wait til you hear the good part. Like f’ing over the top wild.

Has anyone here heard of a company called OV Loop. It is a very small FinTech startup here in the. Boston area. My neighbor works for them. I have a wild story for everyone after work. Gather around the campfire for a wild tale of the possible future of XRP.

Supply is a huge factor. Uuugggeee.

F that guy lol. Never a good sign.

I wouldn’t hang my hat on that. Coinbase throwing punches at them on the sidelines is going to show just how corrupt the SEC really is. It’s one thing to take one one company. Two companies throwing serious allegations is going to raise eyebrows.

Holy Shite. Haven’t checked this board since the Dawn of Crypto lol. How the hell did it go from .30s to .50s years ago to sub sub penny now. How much gas do they have to even do anything? This is insane.

And there goes interest Earn on Uphold. The SEC sucks donkey balls.

I have most of mine somewhere else locked up in a 30 day interest Earn lol. Hoping they (NEXO) are also participating lol. But they haven’t specified yet. A$$3$ lol.

In a completely unrelated topic … Is anyone using Uphold for the Coreum airdrop? Snapshot is the 23rd I believe and based on Solo / XRP tokens on their exchange.

NEXO stayed way out of that arena from what I understand. The repercussions will be felt throughout the industry for years to come I have no doubt. Little ba$tard$ lol.

You can stake in ledger but I believe the range of tokens you can stake is very very small and I do not believe XRP is one of them.

They were all part of that FTX scandal weren’t they?

They had visited this relationship years ago. Yoda probably remembers. May have been talked about the first time around back in 2017 or 2018? At which time it was just rumors and speculation until WF said they were passing at the time. Mindless probably remembers that too and maybe APJ.

And now for some good news. Remember when Wells Fargo said pass a few years ago? Looks like things may have changed.

https://u.today/ripple-partner-and-wells-fargo-collaborating-on-swift-replacement

I had someone look on Ledger and it did offer a number of Staking options but I don’t believe XRP was one. All tokens I am not into lol.

Now that the interest gravy train is coming to an end … is anyone going to start trading their XRP? I have enough that when it goes down my dollar balance is in the 17k range and when it’s up it’s about 20k. Swing trading for 3 grand a few times per week good or bad idea and anyone else mulling that over?

And does this work right off of your Ledger products (cold storage) or is this an entirely different product that uses an online wallet? You have my attention. Have you taken it for a test drive yet?

Can you stake XRP here?

I do to but I don’t think anyone is staking XRP anywhere. If you are start spilling lol. I have Hedera, Flare, Songbird, and Kava going on Uphold. But not the same thing lol.

Well I know we cannot stake XRP on Uphold BUT I do have a ticket started with them inquiring as to why they have an Earn program in the US but NEXO has to pull theirs. It’s getting escalated and passed along to the hire ups. I am extremely interested in what their answer will be.

I think it’s going to bite them in ass. Kind of like how ABRA exchange became ABRA Bank and the only way you can qualify for the earn program now is if you make $125k single, $250k combined if married, or have over 1 million in assets NOT including your primary residence. Do you know how many long time ABRA users will NO longer qualify for the earn program now? So many users are just not going to meet those qualifications so they will have to go elsewhere or only be able to earn interest on what was staked before the changes went into effect. Burning all your early investors who don’t meet those qualifications is BS. And I hope Swift pays the price. The whole purpose of XRP is to bring banking to the unbanked. F swift. I think it plays right into our hands.

This is a very fluid thing going on with NEXO. They have been trying to work with the US and feel as though the US was not working in good faith and have had a hard time getting answers or worse mixed information from different levels. I had made a post a while ago when they announced the new 8 states losing their earn ability in the US.

I’m not sure why some states keep that status while others lose it. It’s crazy. But for now things are staying the same with them. If you are in a state that earns continue earning. If not that kinda blows. I just keep praying things take a turn for the better and not worse for us.

Will be talking with them again tomorrow. I have a few key questions I want them to clear up. Looking at their Twitter announcement things seem very positive. Listening to the SEC and turn gurgler Guzzler sounds like they are too happy with the outcome. Will keep you posted. I always screen shot the conversations with them for safe keeping lol.

They don’t care lol. They know who can and who can’t. They know which states qualify for what lol. By not talking to them you are not “flying under the radar” so to say.

Have you reached out to them personally? I will contact them Sunday. They are pretty good about clearing up any miscommunication. But a lot of people were not phased by the outcome. I will have to go back and reread the transcript from the conversation with them.

Granted they are not offering Earn to new customers or making any major changes there. But Massachusetts is still getting it so I’m happy ????

I don’t think they are exiting. They do have to pay the 22.5 million. And nothing is changing with US customers and earn now. But I thought this was a step forward not back. Or am I reading into it wrong.

Dude … every one using NEXO listen up. Good f’ing news.


We are pleased to announce that Nexo has reached a landmark resolution with the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA), consisting of all 50 U.S. States and three territories, the Attorney General of New York, the Texas Department of Banking, the Washington Consumers Services Division and the Alaska Division of Banking and Securities.
Important characteristics of the settlement with U.S. Federal regulators include:
The settlements are on a no-admit-no-deny basis.
The sole allegation has been that Nexo’s Earn Interest Product (EIP) was an unregistered securities offering.
This closes all multi-year-long inquiries into Nexo, looking at various aspects of the business, following the company’s voluntary decision to stop offering its EIP in the U.S., Nexo’s proactive exit from the U.S. market in an orderly fashion, and an agreement to pay a fine payable over 12 months or some crap like that. The End.

So I did reach out to Uphold. They are not supporting the DFLR drop unfortunately. I’ve been getting boned left and right and have been getting years of false promises from ABRA. They are on the top of my ?? list lol.

Will Uphold be dispersing DFLR tokens based on holdings of Flare? Have a message into them but didn’t know if you knew the answer to that question.

Did you hear about the raid on one of NEXOs offices? Someone sent me the info about it recently … like within the last 5 minutes.