Ripple News & XRP Adoption: Two Banks Reveal Plans to Support the Digital Asset XRP [Big news!]

hello folks you have reached the cryptocurrency portal and today have some big information to go over about ripple and XRP in general but specifically ripple the company as you can see here the first article that I want to discuss here it says the XRP adoption to banks reveal plans to support the third largest cryptocurrency there’s always a lot of talk in the crypto space where people say ripples are great company but who uses XRP so ripple over the years have said that banks will start using XRP obviously things take longer adoption is longer than anticipated we don’t know what’s going on in the world right now so things take longer so look at these these headlines here’s as two Swiss banks are revealing plans to offer services for XRP Signum Bank which calls itself the first digital asset bank with both a Swiss banking license and a Singapore asset management license now offers deposit exchange and credit services for XRP according to a press release and I’ll pop over to the press release here in a minute Signum already offers services for Bitcoin and aetherium so you know Bitcoin and the theorem are already on board so now just the momentum continues with XRP no matter if you are for or against Bitcoin aetherium XRP it’s just whenever you have these headlines this is continuous forward momentum for the crypto space in general I’m always intrigued and kind of upset when certain projects try to tear down other projects and vice-versa the reality is you know let’s lift all boats up in just a pod any forward momentum in the crypto space no matter what project it is because use case over time will win out and the market forces will dictate that however what might bring beat down other projects just keep going for moment I’m anything positive industry let’s keep keep it going so continuing here it’s assignment well well Khalid the Depot manager at signum says the bank is impressed with ripples XRP based cross-border remittance platform and this in this video we’re gonna go over a lot of that just talking about their cross-border remittance platform the quote here is the XRP based solutions developed by the company resolve weak spots in the growing global remittance market of 700 billion dollars the low cost of transfers makes it an ideal tool to facilitate payments and emerging economies meanwhile Arabic Bank Switzerland also announced plans to support advisory custody and brokerage services for XRP according to a recent announcement the Bank began offering those services for Bitcoin and etherion last September again more applause because they’re just for momentum I an Arab Bank Switzerland also recently invested in Swiss fin tech company tourist group sa in a Series A funding round tourist group specializes in digital asset infrastructure and the quote from the bank is an increasingly digital world Arab Bank Switzerland’s first-ever investment in a financial technology company is consistent with its convictions and reinforced by a shared vision with Taurus namely the worlds of traditional assets and digital assets are converging although the digital asset industry is still nascent both companies see tremendous potential and efficient gains for users advisors investors and financial institutions and digitalizing the financial industry by leveraging blockchain and smart contracts technologies and that’s an important quote right there well says although the digital asset industry is still nascent this is a little off topic but yeah they hope the whole industry is nice and we still need that to have regulatory clarity in the space so we’ll probably going over a video this this week talking about regulations in the crypto space especially in the United States so anyway continue along here is the actual press release from Signum it says ripples XRP token now available at signum bank there’s a press release we’ll just talk about these three bullets right here so it’s straight from Zurich Signum Bank today announced the availability of ripples XRP protocol token for custody trading and creditor on its banking platform a third bullet three bullet points are all at 0.1 X RP is the third most capitalized protocol taken globally that’s just market cap Bitcoin theorem and x RP make up about 80% today’s total protocol token market capitalization bullet number two Ripple’s x RP token allows Signum x’ clients to further diversify their direct token investments in addition to Signum x’ asset management products and bullet three ripples vision to instantly

move money to all corners of the world is in line with signals mission to empower everyone everywhere with more direct access to ownership and value so it’s a good little use case here signal bank is going to be using ripple and x RP so continue long about the ripple theme here this is straight from ripple insights on ripples main web page of ripple comm and it says TP bank uses ripple net to drive transparent global payments between Vietnam and the world so the number of Viennese migrant workers in Japan reached a record high in the last five years making Vietnam the second large center of migrants to the region this growth is expected to increase as Japan’s borders become more open following the government’s 2019 regulation of a restrictive immigration law as the overseas workforce continues to grow in Japan people are looking for faster ways to send money home now understanding this need team Fong commercial and joint stock banks OTP bank one of the leading digital transformation banks in the Vietnamese banking industry partnered with ripple net to successfully deploy blockchain technology for international money transfers between Japan and Vietnam instead of waiting at several hours to complete a money transfer from Japan to Vietnam transactions take minutes to settle through a ripple net TD Bank is able to provide its customers with a simple trance parent and fast way to send Global Payments in and out of Vietnam and the quote here is by joining ripple net remittance transactions from abroad to to PTP bank will be faster while ensuring safety and transparency cash flows will be still be legally transferred via foreign banks to Vietnam said of the CEO Wang Hong in 2019 TP Bank connected to ripple net and is the first and only bank in Vietnam creating an opening for the network of over 300 financial institutions to gain access into this market today TP Bank processes billions of Japanese yen equivalent to dozens of millions of USD per month from Japan to Vietnam via ripple net remittances are real-time transfers and processed 24/7 a revolutionary system compared to traditional banking services being part of ripple net is helping TP bank open new remittance corridors and expanded services to more countries popular with Vietnamese migrant workers and in 2019 the company connected to his first ripple net partner SBI remit to launch the first money transfer service between Japan and Vietnam leveraging blockchain technology and by harnessing this power through ripple that TP Bank is making cross-border payments faster cheaper and more transparent TP Bank began its partnership with SBI Ripple Asia by focusing on individuals working outside of Vietnam who need to send money home to their families on a regular basis TP Bank now plans to expand its newly enhanced remittance service to both individual and corporate especially small and medium-sized enterprises or also known as SME small and medium-sized enterprises the quote here is this takes high priority for SME customers of TP bank because taking advantage of ripple net with real-time transfers and 24/7 transaction processing SCM many customers will save time minimizing costs reduced risk management and release the necessary capital that can be used to further develop their business mr. Hong said now as their networks grow through triple net TP Bank will be able to make the entire cross-border payment change a seamless experience for both partners and customers so that’s the latest from TP Bank all right so continuing along here is the next update about money match how they works with ripple to provide cost-effective Global Payments for SMEs in Malaysia and I’m going to play this video for you it’s only about two minutes long so I’m going to play it directly for you so you can hear directly from money match primarily for SMEs use people that’s basically helped us basically allowance is a nice big payments they were 100 countries on when we will meet the introduction is sort of like a hug instead of a handshake right and officially allowed us busy brothers great access you can access the bank as well so you see the right people the right partners and I can see the ingre people that sort of give us some some

credibility as well and this usually really allows me to open up the payment revels in these countries which in turn lowers our course and then so generate a mobo do the repo sort of kicks already there because to certain course of course I think the partners a regular brought on board so we saw a cost reduction approach through about 40 percent we obviously saw saying a pass it back down finger simmer so we think created a lower euro pricing process from which their Intel computer loop swing get more customers we generate the more volume we are the partners in this with person X then write the Clearview rope in payments as well so speaking about the quickly takes two days right for the money to meet our customers as you get money through Europe in under five hours yeah that’s busy for my compliance the player from partners comprising clear and this is the money reaching of friends that come in you in your future for network so that greatly enhance the whole experience for customers as well you know great a very satisfied customer who saw vision I think we have money match as well as be lying if we what report has as well you wanted you know demons everywhere anyway right so I think that’s it’s something that we do it so I mean it’s one thing about what we have the reels right now but I think that what we really want to do is to have the ability to collect and not sell yourself and multiple licenses so thank you or network by the key focus would be to do our bone collection people visit these alright so there you go folks hearing directly from person up money match there so continuing along with this is a ripple insights article directly from ripples website so you have the overview of the video but here let’s go through this article it says money matches a cross-border transfer services but that helps small and medium-sized enterprises again SMEs in Malaysia pay their global suppliers as the country’s traditional financial institutions were charging high FX rates on the smaller volume transactions typically requested by SMEs and individuals money match partnered with ripple to offer cheaper and faster payments to more than 120 countries around the world now here’s the quote banks typically focus on larger customers who are sitting high-volume transactions action afford higher fees set money match CEO and co-founder Adrian Yap SMEs don’t have much choice other than to accept these same rates which adds to the cost of dealing with foreign suppliers and he says we worked with Ribble to create an improved cross-border payment process that offers these customers better rates and faster transaction times yeah first became aware of this significant gap in the market while working in treasury rules at some of the Malaysia’s biggest financial institutions not only did he see how banks prioritize the needs of enterprise customers over s and E’s he knew that they were generating a lot of revenue from high costs affects transactions and he says all the banks charged the same fees explained yep they were happy simply generating these revenues instead of trying to increase market share by reducing rates we believe that offering lower prices and a simple way to send money abroad would really benefit SME customers and allow us to capture this valuable market our challenge was that we were a small start-up from Malaysia which is not a top of the mind market for the rest of the world and we need to develop relationships with banks and payment providers all over the world but didn’t have the required credibility or transaction volumes so there you go building credibility of the partners and customers money match overcame that challenge by becoming part of the ripple Network which gave the company fast and easy access to hundreds of global partners with everyone plugged into the same network that company cut integration and operational costs allowing to provide a faster and more affordable service to customers ripple net partnerships also helped money match offer same-day settlement times and another quote here is after joining rip on that we were suddenly a credible partner for all these financial institutions and payment providers around the world we called Yap a ripple net introduction is more like the hub than a handshake we struggled to find a decent European partner and we’re stuck using Swift system to make payments they’re working with ripple partners allowed us to cut our cost by as much as 40% and instead of transaction taking at least two days we were completing them in just a few hours as he explained action in the video despite developing a cost-effective cross-border payments process money map

still had to convince customers to trust the company with their money instead of the traditionally reliable if expensive banks SMEs are rightly cautious with their money said yep gaining their trust quickly was not something we could hack you have to earn it we saw businesses start with lower value transactions once we had their trust and they saw how much they were saving these customers became they began making four to five and larger payments with us every month over time they also the benefits of same-day summons from helping with cash flow management to getting better terms from suppliers alright to wrap this up creating more customer benefits with ripple neck money batch aims to continue to use ripple net to open up new markets and create more benefits for its customers and his final quote of this article is we are always thinking about how we can serve our customers better that’s why we’re looking to develop partnerships on ripple net that will help us build more payment and collection facilities on a global scale we want to match the ambitions of our SME customers and be the kind of growth partner that they won’t find in any of Malaysia’s traditional banks alright so that’s the latest about money mash from ripple and ripple insights next year ripple says XRP remittance volume surging and dollar value of crypto transactions up two hundred and thirty-four percent since corridor four now we’re actually him go through their quarter one twenty twenty report here shortly we’re going to go through together but this is the kind of a quick little overview very quick here it says ripple says enterprise use of its XRP base remittance platform is on the rise in its quarterly report on XRP again we’re going to go over the full quarterly report here shortly the San francisco-based thin tech company says transaction volume and the dollar value of transactions on the network spiked in recent months the quote is customers continue to see the value of XRP through significant cost savings by eliminating the need to pre-fund international accounts from quarter four 2019 to quarter one 2020 ripples ripple nets on-demand liquidity odl which used to be their ex rapid product but they’ve rebranded to odl or on-demand liquidity the service tripled in transaction volume and the dollar value transacted increased by more than two hundred and ninety four percent in ripple which owns half of the hundred billion extra P existence created odl to give financial institutions an ecosystem for moving money across borders using cryptocurrency now MoneyGram is the most high-profile user of odl and says it uses the product to move more than 10% of its transaction volume between the United States and Mexico ripple and MoneyGram partnered in June of last year and November ripple completed its purchase of a 50/50 million dollar stake in the company now I’ve actually done a video about money gram and the partnership with Ripple and I’ll actually put that in the comments section below all right so continue along here is the quarter one 2020 XRP Marcus report directly from Ripple I actually love these reports because not it’s their own reports and they’re probably gonna put in positive light on them but they do give a little history they tell you about what’s going on the crypto space tell you what’s going on the financial world in general so let’s just go through this together Ripple publishes the quarterly XRP Marcus report to voluntarily provide transparency and ready to update on the company’s views on the state of XRP market now you got to get my Kudo for that they are pretty transparent I know there’s a lot of pushback because they own a lot of the X RPE but they have them locked up in escrows and they are fully transparent about it so moving along says including quarterly programmatic and institutional sales updates relevant XR peat related announcements such as spring and replimat partnerships and commentary on previous quarter market developments as an XRP holder ripple believes proactive communication is part of being a responsible stakeholder moreover ripple urges others in the industry to follow its lead to build trust foster open communication and raise the bar industry wide so Market Snapshot crypto as a safe haven asset class we know about everything going on in the world right now since the advent of Bitcoin digital assets are often referred to as safe payment assets and speaking of Bitcoin I actually did a video about Satoshi Nakamoto in the original Bitcoin white paper I went through that a while ago and I’ll actually put a link to that video in the comment section below as well and continue or assets that market participants can turn to during turmoil in financial markets due to their presumed lack of correlation to traditional markets weren’t out of the

2008 financial crisis digital assets put the safe-haven label to the test this was all about to change on March 12th 2020 or what some describe as Black Thursday so in the days preceding Black Thursday digital assets began the week holding firmly along with gold and trading as a safe haven asset while equities markets were seeing the beginning of the Cova however has the S&P dipped below 3000 on Black Thursday unprecedented volatility spread through the digital asset markets Bitcoin saw its largest one-day move ever losing over 50 percent of its market value in a matter of hours a decline accelerated by billions of USD worth of liquidations on leveraged derivative venues and lending platforms now as digital asset holders rushed to transfer digital assets to either meet margin calls sell out their positions or take advantage of Christ’s dislocations the BTC and aetherium networks became overwhelmed in suffered performance issues according to coin matrix medium transaction fees measured in dollars for Bitcoin and theorem shot up almost fivefold while the entire crypto market including XRP experienced volatility the performance of the xrl ledger or the X R P L such as transaction price and spread remained stable making X R P that preferred digital asset for funds transfer fast-forward five weeks and as of April 17th 2020 the S P 500 is down 11% on the year a WTI crude is down almost 70 percent year-to-date goal is up 10 percent and total crypto market capitalization is up 7.3% given the recession and continued uncertainty about the extent of the long-term economic impact this global crisis will impose we this is ripple talking expect continued market volatility and the sustain test crypto as to whether performs as a safe-haven asset or not so disciplined responsible stakeholders continued pause and programmatic sales of xrp so this gives a lot of consternation in the crypto space and a lot of people love to bash X or ripple about XRP sales and it’s just the easy point but you can see the transparency that ripple bring so as readers may recall back in quarter to 2019 ripple shifted to a more conservative volume benchmark for XRP sales away from coin market cap and to crypto compare top-tier CC TT and significantly reduced x RP sales in the quarter 3 of 2019 and quarter for 2019 ripple further reduced x RP sales and pause programmatic sales ripple maintained this approach throughout the entirety of core 1 of 2020 so in quarter one 2020 total X our piece sales were only one point seven million dollars in USD versus 13 point oh eight million the previous quarter in addition ripple continued the pause of programmatic sales focusing solely on its over-the-counter OTC sales to build up utility and liquidity in strategic regions including MEA and Asia total sales OTC only given programmatic pause ended the quarter at point our 0.6 bps basis points of CCT this is compared to in total sales in the previous quarter OTC plus programmatic on 8 basis points of CC TT represented a ninety nine point three percent drop quarter over quarter so here’s the overall here if you want to pause the video and look at that yourself percentages you see is calculated by dividing actual ripple dollar proceeds by total reported XRP volume in dollars quick note in q4 and effective q1 2020 CC TT change the methodology it uses to determine which exchanges lists in the top tier which is reflected in the numbers above crypto compared to not retro actively update its data for the change ripple continues to evaluate its benchmarks given challenges such as fake volume that continue to persist in the industry so here’s the reported volume I will just pause it here you can pause the video and check that out yourself there’s that volatility XR Pease volatility of daily returns over quarter one is 6.2 percent

representing an increase in volatility from q4 s 3.1 percent extra piece volatility over the quarter was higher than out of BTC which was 5.8 percent and lower than that of ether which was seven point three percent so here is the graph you could positive over here if you want to really take a look at it blue as XRP this orange is red is BTC this yellowish is etherium correlations with XR p after showing signs of decoupling from the large cap digital assets correlations of XR p with other large capitalization digital assets spiked towards 100% following black Thursday’s market meltdown so again you can pause the video if you want to look at this graph the rolling 30-day correlations of returns with XR p moving long escrow quarter one activity in quarter one twenty twenty three billion XR p were again released out of escrow one billion each month in total across the quarter 2.7 billion x of people returned and subsequent to new s coke contracts so no all figures are reported based on transactions executed during the quarter monitoring escrow activity last quarter ripple re share details on escrow to provide clarity on its finish mechanics and timeline to provide further transparency ripple created the looks like a Twitter y Twitter page here of @xr P underscore s robot this Twitter bot monitors and post the monthly escrow movements anyone on Twitter could follow this count to track escrow activity that’s great more Tran pairen see as a reminder every month the escrow mechanism releases a total of 1 billion XRP to ripple the portion of X repeat left over each month is placed into a new escrow to released in the following months and now for more information you can go to repos escrow please see here it goes to a ripple inside explanation of ripples xrp escrow ok on-demand liquidity customers continue to see the value of XRP through significant cost savings by eliminating the need to pre-fund international accounts from quarter four 2019 to quarter 1 2020 ripple nets on-demand McCleary Odile service tripled in transaction volume and the dollar value transacted increased by more than two hundred and ninety-four percent of note ripple and as emo a uk-based digital money transfer service announced their partnership to use the digital asset XRP in cross-border payments Izumo launched service to send payments to the Philippines and within a few months ODL save the company 30 to 50 percent when arranging currency transfers between customers in the Philippines and those in the UK and Europe XRP integrations and liquidity update as mentioned in a recent insights blog liquidity is the key to exchanging any asset the more liquid and asset is the more efficiently it can be exchanged therefore goes without saying that XRP liquidity is the lifeblood of ripples on demand the query for cross-border payments now in addition to being bolstered through new use cases for XRP outside of cross-border payments liquidity is increased by the variety and diversity of exchange tradable instruments in the case of XRP quarter one saw the integration of XRP into a number of additional exchanges and liquidity instruments spring the open source community of developers continues to build products and support innovation on the XR PL through improvements to the technology last quarter Spray Lots new tools services and documentation for developers including XRP Letcher main NetSupport in spring SDK and support for an allergic protocol or ILP stream on test net to in the spring dial wallet in addition spring partner Anchorage announced support for custody of XRP enabling is growing roster of enterprise customers to securely store XRP for varies and use cases the popular wallet BRD also announced support for XRP all right so here’s a little market commentary and a few bullet points here regulatory activity this is very key because I always call for more regulatory clarity in the crypto space in order to move the space forward bullet 1 the monetary attire Authority of Singapore granted temporary relief to certain market participants from the newly adopted licensing requirements under the payments services act the relief will allow firms to operate until July of 2020 after which time they must

obtain a license the next bullet the Indian Supreme Court overruled the ban on cryptocurrency activities that was imposed by the Reserve Bank of India in April of 2018 a few days later the RBI announced his intent to return to the Supreme Court to challenge its ruling the next bullet the CFTC released interpretive guidance for when actual delivery occurs for retail crypto transactions involving leverage or margin the guidance is another step taken by the CFTC to provide clarity to market participants regarding activity that falls within their jurisdiction next bullet amid the pendentive crisis the United States Congress discussed the creation of a digital dollar and related accounts as a way to speed simulus payments to households that need support next bullet SEC Commissioner Hester Pearce proposed a three-year safe harbor period for crypto token sales the safe harbor proposal provides relief for issuers from being considered offering illegal securities the last bullet here Brazilian Central Bank announced an initiative to allow payments between retail customers and businesses to be processed within seconds the initiative is part of the central bank’s overall initiative to improve open banking within Brazil industry players three bullets here swift the first bullet is swift messaging upgrade to ISO standards was delayed by a year and is now set to finish by 2025 second bullet world line purchase Ingenico for eight point six billion dollars continuing the consolidation trend of payment players ripple expects to see consolidation continuing 2020 as legacy players tried to digitize and protect market share against fintax the third bullet is Facebook alternates plans for its Libre white paper due to regulatory pressure and political pushback unsurprisingly Facebook’s leave a project shifted focus and will support both existing government backed currencies and the Libra token so just so you know I actually did a video about the Libra white paper and I’ll put that in the comment section below so you can take that look at that as well alright so to wrap this video up the last three bullet points are bought market moves first bullet the number of crypto wallets containing one Bitcoin or more continue to rise and hit an all-time high on March 11th bullet 2 by Nance one of the largest cryptocurrency trading platforms acquired coin market cap for an undisclosed price and in the face of criticism affirmed their intent for the site to be neutral provider of date and I think the price came out of four hundred million dollars I actually did a video about that as well so I will link that in the comment section below and you can check that out if you want to and the last bullet here is by Nance and okay e x over two bit next in the Bitcoin futures market this past quarter is volume on the crypto exchanges reaches reached a record-high in mid-march so that’s the latest from the crypto currency portal folks thank you so much for tune in to discuss ripple and X P in general you can see here we started with the two banks revealing plans to support the third-largest cryptocurrency as always if you have any comment about the crypto space in general please put in the comments section below I love having discussion about the crypto space and I’ll respond to all comments if you liked this video please smash the thumbs up button it really does help me out helps out the channel helps out with those Google and algorithm and YouTube algorithm so I’ll really appreciate it if you’re already subscribed to the channel thank you very much I deeply appreciate you if you’re not a subscriber yet hopefully I’ve earned your trust by giving you value and I would be honored with your subscription to the channel so thank you again for tuning in to cryptocurrency portal I’ll talk to you real soon