______________________________________________________
(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Seeds of Wisdom
RIPPLE AND DIFC PARTNER TO BOOST BLOCKCHAIN INNOVATION IN DUBAI
▪️Ripple partners with DIFC Innovation Hub to accelerate blockchain adoption in the UAE and foster innovation.
▪️Ripple’s 1B XRP fund supports global developers, driving blockchain solutions across 47 countries on the XRPL.
Ripple has announced a strategic relationship with the DIFC Innovation Hub, a thriving innovation environment within the Dubai International Financial Centre (DIFC), to accelerate the development and acceptance of blockchain and digital assets in the UAE.
Ripple Fuels Global Blockchain Innovation Through Strategic Alliances and 1B XRP Fund
This alliance aims to connect the next generation of developers with the region’s largest innovation ecosystem, which includes over 1,000 growth-stage IT startups, innovation corporations, digital laboratories, venture capital firms, regulators, and educational institutions. Brad Garlinghouse, Ripple Chief Executive Officer, stated:
“Our partnership with the DIFC Innovation Hub promises to drive the adoption of blockchain technology in the region as the XRPL continues to be a leading blockchain for the region’s start-ups and scaleups building real use cases.”
The agreement demonstrates Ripple’s commitment to pushing blockchain adoption among early-stage firms and scale-ups, as well as situating this disruptive technology within traditional large strategic institutions and their specialized use cases.
The pledge of one billion XRP by Ripple to promote global use cases on the decentralized layer 1 blockchain known as the XRP Ledger (XRPL) further demonstrates its dedication to promoting blockchain innovation.
Advertisement
______________________________________________________
Ripple’s huge funding offer intends to provide not just monetary support but also technical and business assistance to developers globally. Since the beginning of the 1B XRP Fund in late 2021, Ripple has successfully supported over 160 teams in 47 countries, allowing for the development of a wide range of XRPL applications.
These applications cover a wide range of sectors, including decentralized finance (DeFi), Real World Assets (RWA), and other ground-breaking technologies, demonstrating Ripple’s worldwide effect. Arif Amiri, DIFC Chief Executive Officer, added:
“Today marks another milestone in DIFC’s ongoing journey to help facilitate growth and equip the next generation of leaders with everything they need to succeed.
The Ripple collaboration further cements DIFC’s role as a leading global hub for talent, technology and innovation, as we continue to enhance our ecosystem powered by a world-class regulatory jurisdiction, to drive the future of finance.”
Strategic Integration Boosts Blockchain Innovation and Economic Value in the MEA Region
Ripple’s regional office is located in the DIFC, demonstrating the strategic relevance of the UAE and the larger Middle East and Africa (MEA) area to the company’s activities. The DIFC approved the usage of XRP within the Center in November 2023, marking a key milestone.
This permission enables licensed virtual asset firms operating in the DIFC to incorporate XRP into their virtual asset services, further integrating Ripple’s technology into the region’s financial system.
This move not only advances blockchain innovation in Dubai, but it also generates new economic value by incorporating XRP into the larger virtual asset ecosystem.
Advertisement
______________________________________________________
In addition to Ripple’s cooperation in Dubai, the Middle Eastern regulatory landscape is evolving, with Qatar recently creating a framework to oversee the operation of digital asset services and foster innovation in the financial sector.
According to CNF, analysts believe that this legislative clarification will considerably accelerate the growth of cryptocurrencies, notably Ripple, given its long-standing ties with Qatar National Bank.
Such regulatory developments in Qatar, together with Ripple’s growing impact in the UAE, place Ripple strategically in the rapidly growing Middle Eastern digital asset industry.
Furthermore, as we previously reported, Japan’s Metaplanet has formed a cooperation with cryptocurrency investment provider SBI for Bitcoin trading and custody.
This collaboration focuses on regulatory compliance and tax efficiency. Given that SBI is one of Ripple’s core partners, there is suspicion that XRP will soon be included in this cooperation, potentially boosting Ripple’s influence in Japan as well.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
RIPPLE INTRODUCES SMART CONTRACTS AND INNOVATIVE NFT FEATURES TO THE XRP LEDGER
▪️Ripple’s new developments aim to expand the XRP ledger’s capabilities, enabling new features such as NFTs, DEXs, and AMMs.
▪️Ripple is broadening its reach by partnering with AI and metaverse firm Futureverse to integrate Ripple Custody for secure DeFi access via the Ottó blockchain.
Blockchain startup Ripple has made some major announcements at the Korea Blockchain Week 2024 with the goal of boosting the foundations of crypto infrastructure thereby driving more institutional adoption of blockchain.
Ripple is now working to advance the XRP Ledger’s programmability by introducing smart contracts to the mainnet and within the ecosystem. This will also help developers leverage the XRP Ledger’s expanded capabilities, thereby accelerating innovation on the platform, per the CNF report.
As a result, Ripple is undertaking a two-pronged approach to boost programmability. First, smart contracts will be introduced to the XRP Ledger mainnet, along with the XRPL EVM Sidechain, in the coming months. These two developments will complement each other in building a robust and versatile ecosystem that will cater to a wide range of applications.
Advertisement
______________________________________________________
Furthermore, the introduction of the smart contracts will also enable new layer-1 features such as NFTs, Escrow, payment channels, authorized trustlines, as well as DEXs and AMMs.
The introduction of these new features, along with the high speed and low cost of XRP Ledger, makes it well-suited to drive everything from traditional finance to innovative new applications. However, the Ripple community is also demanding moving away from centralized control of XRP Ledger and taking the path of decentralization, reported Crypto News Flash.
The XRPL Labs’ Hooks, which define the current smart contract standards provide a crucial foundation that can be built upon to improve Mainnet features. This framework will further allow developers to harness Ledger’s core strengths while tailoring smart contracts to address specific requirements.
Ripple Partners With AI and Metaverse Tech Firms
Apart from the financial markets, Ripple is also expanding its wings into other emerging industries, such as artificial intelligence (AI) and the Metaverse. As a result, it has partnered with Futureverse, an AI and metaverse technology firm, to integrate Ripple Custody and thus secure its digital assets.
Futureverse will facilitate secure, KYC-verified access to DeFi through its proprietary Ottó blockchain. To ensure safe receipt and storage of cryptocurrencies before minting on Ottó, Futureverse will utilize Ripple Custody.
It is clear that Ripple seeks to grab a piece of the crypto custody market, which is expected to grow to $10 trillion by 2030. The blockchain startup will do this by providing a state-of-the-art governance framework while safeguarding a large number of digital assets, including stablecoins and tokenized assets such as bonds, stocks, commodities, and real estate.
Interestingly, Ripple has also been working on a multi-purpose token for XRPL, per the CNF report.
In another announcement, Ripple’s University Blockchain Research Initiative (UBRI) welcomed Korea’s Yonsei University as its 58th global partner. With over $60 million committed to the UBRI program, Ripple continues to advance academic excellence and cutting-edge research through strategic support, technical resources, and grants.
@ Newshounds News™
Source: and Read more:
Crypto News Flash
CoinGape
Cointrust
~~~~~~~~~
Why You Need to Know What a Recession Really Is – The Economic Ninja | YouTube
Advertisement
______________________________________________________
@ Newshounds News™
~~~~~~~~~
XRP WHALES SELLING HEAVILY AS RIPPLE TO PAY US SEC THIS WEEK
▪️XRP whales dump heavily ahead of Ripple’s $125M settlement with the SEC.
▪️Ripple to pay the settlement this week.
▪️XRP price dips with increased selling pressure on the asset.
XRP whales have ignited severe investor concerns, heavily dumping their holdings ahead of a $125M settlement between Ripple and the U.S. SEC. On-chain data pointed out nearly 1 billion XRP moved over the past day, raising speculations on the cryptocurrency’s future price movements.
Moreover, recent massive escrow movements by the American blockchain payments firm have further propelled speculations on XRP price action ahead.
@ Newshounds News™
Source: CoinGape
~~~~~~~~~
Ripple USD Stablecoin Could be Issued in ‘Weeks, Not Months’: Garlinghouse
The RLUSD will be fully backed by U.S. dollar assets, tested with enterprise partners, and will operate on the XRP Ledger and Ethereum blockchain.
Ripple is close to launching its U.S.-dollar pegged stablecoin, Ripple USD (RLUSD), with CEO Brad Garlinghouse indicating a launch timeline of “weeks.”
RLUSD will be fully backed by U.S. dollar assets, tested with enterprise partners, and will operate on the XRP Ledger and Ethereum blockchain.
Advertisement
______________________________________________________
SEOUL- Ripple Labs chief executive Brad Garlinghouse, at the ongoing Korea Blockchain Week on Wednesday, said that the company’s U.S.-dollar pegged stablecoin is close to issuance.
“We will certainly launch soon. Weeks, not months,” Garlinghouse said at the event. “It’s called Ripple USD. RLUSD has been minted in that framework.”
He stated that plans for the token were made after USD Coin (USDC), the second-largest stablecoin by market capitalization of $34 billion, lost its dollar peg in March, 2023.
“We felt like there was an opportunity for a credible player already working with lots of financial institutions to lean into that market,” he said.
Ripple first revealed its stablecoin plans in April, stating that the token would be “100% backed by U.S. dollar deposits, short-term U.S. government Treasuries and other cash equivalents.”
It began testing the token in early August with enterprise partners. The stablecoin is scheduled to be deployed onto Ripple’s institution-focused XRP Ledger and the Ethereum blockchain to start and will be based on Ethereum’s ERC-20 token standard.
Plans for the stablecoin come amid further boosts to the XRP Ledger network in the form of Ethereum-compatible smart contracts, which will let users build out on-chain exchanges and issue tokens, among other financial services, as they do on Ethereum.
@ Newshounds News™
Source: CoinDesk
~~~~~~~~~
Source: Dinar Recaps
=======================================
Advertisement
______________________________________________________
US CFTC Issues Order for Uniswap (UNI)
▪️CFTC issued an order for Uniswap, demanding a $175,000 fine.
▪️Uniswap allegedly violated the Commodity Exchange Act.
▪️UNI Coin price fluctuated due to regulatory uncertainties.
SEC, known for its aggressive lawsuits regarding cryptocurrencies, is not the only regulatory body in America. CFTC also takes action by detecting violations in the futures market. Just now, the institution issued an order for Uniswap, demanding a $175,000 fine and cessation of the violation.
Uniswap (UNI) and CFTC
Uniswap, one of the largest DeFi platforms, is currently supported by Uniswap Labs. According to the CFTC, the DeFi platform allows leveraged trading without permission, violating regulations.
Therefore, it must pay a $175,000 fine and cease violating the Commodity Exchange Act (CEA).
CFTC Enforcement Director Ian McGinley said:
“Today’s action once again shows that the Enforcement Division will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve. DeFi platforms must ensure their services comply with the law.”
The UNI Coin price fell below $6.2 and then returned to $6.45. Uncertainty about compliance and whether US citizens will be restricted from accessing the protocol may increase volatility in the coming hours.
@ Newshounds News™
Source: Coin-Turk
~~~~~~~~~
BRICS NEWS: BLOCKCHAIN PAYMENT SYSTEM SET FOR OCTOBER ANNOUNCEMENT—POTENTIAL XRP INTEGRATION HIGHLIGHTED
▪️ BRICS Pay platform to launch at the 2024 BRICS Summit aims to reduce reliance on the U.S. dollar in global finance.
▪️The platform could challenge Western financial systems like SWIFT.
The BRICS economic alliance is gearing up for its 2024 Annual Summit, where the much-anticipated BRICS Pay platform, a payment system based on blockchain, is expected to take center stage. The platform was unveiled earlier this year. It is likely to threaten the current financial order and promote the group’s de-dollarization policy.
BRICS Pay is a new payment system using blockchain technology. It is intended to help the BRICS countries minimize their reliance on the US dollar in international trade.
Advertisement
______________________________________________________
Additionally, the platform will intend to enable efficient interactions among member countries and may provide a solution to the US-dominated SWIFT payment system.
Russia Pushes for Cryptocurrency and Blockchain Solutions
The system’s development also coincides with the increasing tension between Russia and the West, especially regarding sanctions and financial measures.
Consequently, Russia has paid more attention to cryptocurrencies and blockchain technology. The BRICS Pay platform is integral to this approach as it can facilitate the use of local currencies and strengthen the economic relations between the BRICS countries and their partners.
The BRICS Pay is in line with the bloc’s objective of decreasing the use of the US dollar in international trade and finance. The data from the Atlantic Council’s Dollar Dominance Monitor shows that the dollar’s global reserve status declined to 58 % in 2024 from 72% in 2002. This decline underlines the continuing process of de-dollarisation, which BRICS Pay predicts will strengthen.
Yury Ushakov, an assistant to the Russian president, told the state media how important the BRICS Pay project is for the future. The platform will use digital and blockchain technologies to establish a reliable and effective payment system to facilitate the bloc’s economic agenda.
The platform’s potential extends beyond the BRICS countries, as other Global South nations could use it as a reference to reduce their dependence on the US dollar and strengthen their national currencies.
This means that BRICS Pay can also provide much-needed competition to the SWIFT system and also promote the economic cohesion of the developing world.
Platform Extends Influence Beyond BRICS Nations
The planned launch of BRICS Pay at the 2024 Summit has major strategic implications.
It is a milestone toward the financial emancipation of the BRICS and other emerging economies from the current global order. As a blockchain solution for transactions, BRICS Pay can challenge Western financial organizations and enhance the role of BRICS countries in the world.
Furthermore, the platform’s development correlates with Russia’s current interest in cryptocurrencies and digital currencies. Russia recently revealed plans to create two crypto exchanges, and stablecoins pegged to the Chinese yuan and other BRICS currencies.
Advertisement
______________________________________________________
Notably, Turkish President Recep Tayyip Erdogan will be attending the BRICS summit in Kazan, Russia, from October 22 to October 24. Turkey’s interest in BRICS aligns with its broader foreign policy strategy, which aims to balance relations between the East and West.
@ Newshounds News™
Source: Crypto News Flash
~~~~~~~~~
SPREADING USD-PEGGED STABLECOINS—TRUMP-BACKED DEFI PROJECT REVEALS ‘TRANSFORMATIVE’ PLANS
Over the past few weeks, there’s been a buzz of intrigue and speculation around World Liberty Financial, a decentralized finance (defi) project led by Eric Trump and Donald Trump Jr. After facing some rumors and critiques, the project’s X account finally released fresh details about its mission, aiming to clear the air.
World Liberty Financial Defends Mission and Security After Facing Scrutiny
World Liberty Financial (WLF), a decentralized finance (defi) project associated with Eric Trump and Donald Trump Jr., recently released new information about its plans.
The project, shrouded in speculation, was called a “digital real estate” venture by Eric Trump during an interview, the son of former President and 2024 Republican candidate Donald Trump.
In its latest announcement, WLF emphasized its partnership with several prominent security firms, including Zokyo, Fuzzland, and Peckshield, to ensure the safety of its platform.
While WLF claims to differentiate itself from other projects by collaborating with the decentralized finance (defi) protocol Aave, rather than forking it, details about the project’s specifics still remain scarce.
The project’s messaging focuses on advancing the mass adoption of stablecoins pegged to the U.S. dollar.
The team behind WLF asserts that their project is critical to maintaining the U.S. dollar’s global dominance, particularly as rival countries seek alternatives to the currency.
“By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” the WLF X account stated.
However, despite these ambitions, skepticism persists. There’s been a number of people who believe the project may fall prey to hackers and some think WLF is just going to launch its own WLF crypto coin. Bitcoin proponent Nic Carter asked on X if there was something that the crypto community could collectively do to “stop the launch of world liberty coin.”
Carter added, “I think it genuinely damages Trump’s e*******l prospects, especially if it gets hacked (it’ll be the juiciest defi target ever and it’s forked from a protocol that itself was hacked). However, the WLF project’s organizers wholeheartedly believe that WLF’s impact will soon be clear.
“To those who are skeptical or listening to the noise: our plan will speak for itself,” WLF’s thread concluded. “The brightest minds in crypto are backing us, and what’s coming will make all doubters think twice.”
What do you think about the Trump-associated defi project WLF? Share your thoughts and opinions about this subject in the comments section below.
@ Newshounds News™
Source: Bitcpin News
~~~~~~~~~
Bob Lock on Building Teams and The RV | YouTube
@ Newshounds News™
Source: Currency Facts
~~~~~~~~~
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
______________________________________________________
