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When a complaint from an XRP token holder gained over half a million impressions on X, Ripple co-founder David Schwartz was forced to explain why Ripple’s blockchain, despite over 300 bank partnerships built over 13 years, doesn’t process billions of dollars worth of daily on-chain volume. Schwartz launched the XRP Ledger with Arthur Britto on June 2, 2012. Unlike Bitcoin, whose founder Satoshi Nakamoto intended to disintermediate banks, Ripple has remained focused on banks for years. On social media, XRP communities track and celebrate bank integrations and how the XRP Ledger can facilitate settlements between trusted intermediaries. Not only that, Ripple has issued hundreds of press statements about banking integrations, and Schwartz appeared to agree with an estimate that the company has established at least 300 banking partnerships . Which is why it’s odd that so few banks actually transact on the XRP Ledger. In his X posts, Schwartz explained that f...

Ripple Labs penetrated the financial markets by solving a key issue that was plaguing the global banking sector for decades. It provided banking clients with a product to seamlessly facilitate money transfers with the help of blockchain technology. Leading financial institutions like Bank of America and JP Morgan are using Ripple’s services to secure their transactions. Despite the partnerships with top banks and fintech firms, Ripple’s XRP has barely surged in price. Also Read: XRP’s W-Pattern Targets $40 as XRPL EVM Sidechain Goes Live Why XRP Does Not Surge When Ripple Partners With Major Banks? Source: Bitcoinist Even after banks extend partnerships with Ripple Labs, the financial institutions don’t have a need to deal with XRP tokens. Ripple offers two different products: RippleNet and On-Demand Liquidity (ODL) which are primarily separate from each other. Using the ODL to facilitate money transfers, XRP plays the main role as it is used as gas for settlements and...

Source: Money 20/20 Asia As a proud industry partner, we’re thrilled to announce that Money20/20 Asia returns to Bangkok this April, assembling over 75 of the most influential Asian and global banks. This premier fintech gathering presents unparalleled opportunities to network, collaborate, and explore cutting-edge financial innovations. Engage with Global and Regional Banking Leaders We eagerly anticipate engaging with major global institutions such as J.P. Morgan , HSBC , and Standard Chartered , as well as visionary regional banks including KakaoBank , Maybank , Kasikorn Bank , National Australia Bank , Ambank Group , among others. Their presence signifies the vibrant diversity and innovation at the heart of our industry’s growth. Did you know 85% of the world’s top 20 banks come to Money20/20 USA? Banks like Bank of America, Capital One, Citi, HSBC, J.P. Morgan, Scotiabank, U.S. Bank and Wells Fargo. Yes, the big ones, plus nearly 100 more! Lea...

The Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a positive or a negative? Coinbase, a leading U.S. cryptocurrency exchange , shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.  Coinbase key financial metrics, in millions of dollars. Source: Coinbase However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in Q2. Services and USDC stablecoin impact growth One downside was the 7% fall in subscription and service revenue from Q1. The letter to shareholders revealed that a 28% decrease in the USD Coin (USDC) market cap partly caused this. Since Coinbase holds a stake in Circle, USDC's issuer, it gains from the interest rate offered by the stablecoin reserves. Addition...

Signature Bank is the best place for crypto banking, even if it goes bankrupt, Woorton co-founder Zahreddine Touag believes. The first day of Paris Blockchain Week (PBW) is bringing more thoughts on the ongoing crisis in the global Banking system, with industry executives comparing the collapses of major cryptocurrency firms like FTX with the fall of Banks like Silicon Valley Bank (SVB). On March 22, PBW hosted a panel discussion titled “FTX, Luna, Celsius, 3AC: From Hero to Zero,” bringing together industry executives from the blockchain venture firm Node Capital, crypto-friendly SIX Digital Exchange, Delta Growth Fund and crypto liquidity provider Woorton. The panel took place on PBW’s Mona Lisa stage.  The FTX, Luna, Celsius, 3AC: From Hero to Zero panel at the Paris Blockchain Week. Source: Livestream According to Woorton co-founder and head of trading Zahreddine Touag, the FTX and Celsius-related meltdown in the crypto industry has been triggered by different reasons than those t...