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(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 ENTERS BROKER-DEALER ARENA AS HIDDEN ROAD GAINS FINRA AUTHORIZATION
Ripple just unlocked a game-changing foothold in traditional finance as its $1.25 billion acquisition scores FINRA approval, supercharging institutional access to fixed income markets.
Ripple’s Hidden Road Gets FINRA Go-Ahead to Expand Prime Brokerage Services
Hidden Road, a global prime brokerage firm recently acquired by Ripple for $1.25 billion, announced a regulatory milestone Thursday. Its subsidiary, Hidden Road Partners CIV US LLC, received authorization from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer.
This new designation allows the firm to enhance its capabilities in fixed income prime brokerage. “This approval enables Hidden Road to expand its recently launched fixed income prime brokerage platform, which currently includes Fixed Income Repo & Global Funding services,” the company stated, adding:
“As a broker-dealer, Hidden Road will now be able to provide new and existing institutional clients with a full suite of regulatory-compliant prime brokerage, clearing, and financing services in fixed income assets.”
Noel Kimmel, president of Hidden Road, framed the milestone as pivotal to the firm’s trajectory in capital markets. Kimmel stated: “Our broker-dealer registration is a significant step in the development of Hidden Road’s fixed income prime brokerage platform and bolsters our capabilities in traditional financial markets.”
The executive continued: “As a FINRA member, we will be able to bring our best-in-class, technology-driven fixed income service offering to an expanded universe of institutional clients. Our business has tremendous momentum, and we look forward to continuing to provide superior e*******n and support to our clients amidst today’s exceptionally dynamic market environment.”
Ripple recently announced its acquisition of Hidden Road, a deal valued at $1.25 billion and pending regulatory approval. If completed, it would make Ripple the first digital asset firm to own a global, multi-asset prime broker.
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The acquisition aims to expand Ripple’s cross-border payment and custody services. Ripple CEO Brad Garlinghouse commented: “We are at an inflection point for the next phase of digital asset adoption – the U.S. market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance.”
Ripple CTO David Schwartz described the deal as transformative, stating that XRP could support part of Hidden Road’s daily $10 billion clearing volume and 50 million transactions. “Ripple’s acquisition of Hidden Road is a defining moment for the XRP Ledger and XRP,” he said.
The partnership will integrate blockchain-based settlement, use XRP and RLUSD for collateral and cross-asset trades, and aim to establish Hidden Road as the largest non-bank prime broker globally.
@ Newshounds News™
Source: Bitcoin News
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BRICS: ONLY 50% OF GLOBAL INVOICES ARE WRITTEN IN THE US DOLLAR
The superiority of the US dollar is declining every year as BRICS and other developing countries are working towards uprooting it from the world’s reserve currency status. The latest data had shown that the US dollar’s reserves around the world had already fallen below the 60% mark. The Atlantic Council reported that the US dollar’s global reserves fell to 59% last year.
That’s a gradual decline since 2002 when the global reserves in central banks stood at 72%. The last 23 years saw the USD reserves falling by 13% and the decline could continue further. The decrease falls in line with the BRICS agenda of de-dollarization where the US dollar’s dominancy is getting punctured.
BRICS: Global Invoices in the US Dollar Falls to 50%
Jane Foley, Rabobank’s FX Strategy head said in a recent interview with Bloomberg that the global invoices in the US dollar are now just 50%. The recent data from the SWIFT payment messaging system also shows that global invoices in the US dollar have topped 50.2%. BRICS members are now rewriting trade deals where local currencies are used and not the US dollar for cross-border transactions.
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“There’s a lose correlation between the amount of invoices done in or written in the US dollars round. About 50% of the world’s invoices are written in the US dollars. So fundamentally central banks need dollar reserves,” said Foley. However, she stressed that the development could change soon. “And I think that will change,” she said.
“Over the last 40-50 years, the share of the world’s trade from the US dollar has shrunk really because China’s growth in the emerging markets are great, but that is still nearly 60% of reserves,” she said. If BRICS continues the de-dollarization agenda, the US dollar could lose more value in the coming decades.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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XRP NEWS: ETF APPROVAL COULD SUCK UP SUPPLY LIKE A “VACUUM” & PUMP PRICE HIGHER
▪️ XRP ETFs could remove coins from market, creating less supply and higher prices.
▪️ Analyst predicts XRP price could reach $27 if ETF approval goes through.
▪️ BlackRock’s potential ETF involvement could trigger massive XRP demand with its $11 trillion assets.
A popular crypto analyst from the Good Morning Crypto podcast has made a strong prediction about XRP. He believes that the approval of XRP-based ETFs could trigger massive buying pressure, pushing prices higher. According to him, once proper regulations are in place, both investors and daily users of XRP could find themselves racing to grab what’s left of the supply.
So what’s driving this bullish outlook? Let’s break it down.
XRP ETFs Could Act Like “Vacuum Cleaners”
The analyst explained that Exchange-Traded Funds (ETFs) could play a major role in XRP’s price movement. When someone bu4ys an XRP ETF, the actual XRP gets stored with a qualified custodian, meaning it’s no longer available for trading in the open market. He compared this to giant vacuum cleaners sucking XRP out of circulation.
With already 18 XRP ETF applications on the table, and there’s a speculation that BlackRock, with a AUM of $11 trillion in assets, may enter the space, the potential demand could be massive.
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If that happens, a lot of XRP will be taken off the market, which could push the price higher.
Clear Regulation Might Unlock XRP’s Daily Use
At the same time, the analyst believes that under Donald Trump, crypto rules in the U.S. could become clearer & easier. If this happens by August, more businesses might start using XRP for daily payments.
Meanwhile, market makers, the ones who use XRP for regular transactions, would need it every single day. But while they’re using it, they’d also see the price going up because ETFs are buying up the supply.
If this scenario unfolds, XRP may no longer be as cheap or available as it is today.
On the other hand, the Ripple and SEC lawsuits have been paused for the next 60 days. Many believe it could finally come to an end by July or August. This could be a big moment for XRP, possibly pushing its price higher.
How High Can XRP Go, If ETF Approved?
Recently, Coinpedia News reported that Crypto analyst EGRAG Crypto believes XRP has the potential to soar as high as $27 if an XRP ETF gets approved.
As of now, XRP is trading at a much lower price, around $2.08, with a market cap of $121.5 billion.
@ Newshounds News™
Source: Coinpedia
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BRICS: HAS CHINESE YUAN MADE INROADS INTO THE WORLD’S RESERVES?
China has aggressively pushed the Chinese yuan as a major payment option for trade settlements between BRICS members since 2022. After the White House pressed sanctions on Russia for invading Ukraine, the Xi Jinping administration made use of the turmoil by placing its local currency ahead for cross-border transactions.
Its BRICS counterpart Russia was the top user of the Chinese yuan as it settled major trade deals in the currency. Even countries such as Iran, India, the UAE, Nigeria, and Belarus settled several trade payments in the Chinese yuan. So has the C*******t country’s currency grown by leaps and bounds in the world’s reserves? The answer is no.
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China has aggressively pushed the Chinese yuan as a major payment option for trade settlements between BRICS members since 2022. After the White House pressed sanctions on Russia for invading Ukraine, the Xi Jinping administration made use of the turmoil by placing its local currency ahead for cross-border transactions.
Its BRICS counterpart Russia was the top user of the Chinese yuan as it settled major trade deals in the currency. Even countries such as Iran, India, the UAE, Nigeria, and Belarus settled several trade payments in the Chinese yuan. So has the C*******t country’s currency grown by leaps and bounds in the world’s reserves? The answer is no.
BRICS: Chinese Yuan Made Inroads In International Reserves?
The latest data from The Atlantic Council shows that the Chinese yuan has not made any major inroads in international reserves. Though its usage has slightly increased, it does not create any impact or threaten the dominance of the US dollar. Even BRICS countries are now hesitant to use the Chinese yuan for trade as they believe the C*******t nation is using the alliance as a stepping stone for world domination.
BRICS member India stepped back from using the Chinese yuan after settling many trade deals in the currency. The Modi government does not want to promote or use the currency as it can make China much stronger. India and China have been at loggerheads for several decades due to border and trade disputes. Therefore, using their local currency will only empower the opposition and make India look weaker.
The Chinese yuan has a long way to go to even challenge the dominance of the US dollar. Other leading currencies like the euro and pound are yet to dent the USD’s prospects despite being second and third in line. BRICS has little to no chance of making the Chinese yuan reign supreme in the coming decades.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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