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SWIFT UNVEILS GLOBAL INFRASTRUCTURE TO STREAMLINE TOKENIZED ASSET TRANSFERS

The payments infrastructure provider said the move aims to solve the interoperability issues related to different technologies and regulatory discrepancies.

Swift announced a new initiative on Sept. 11 to streamline global transactions and enable its members to use their Swift connection for transactions involving both traditional and emerging asset types, such as crypto.

Swift plans to test multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions on its global platform. This could allow securities buyers to simultaneously pay for and exchange tokenized assets in real-time on Swift’s network.

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Important Ripple (XRP) Announcement Concerning XRPL

▪️The XRP Ledger (XRPL) will implement a major amendment in two weeks to enhance its Automated Market Maker (AMM) feature.

▪️Ripple’s XRP has seen a slight price decline, with a 1% drop over the past 24 hours and a 7% decrease over two weeks, despite recent updates.

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RIPPLE CONFIRMS FEDNOW’S NETWORK EFFECTS WILL TRANSFORM PAYMENTS AND BOOST XRP

▪️Ripple Labs believes the Federal Reserve’s FedNow system will benefit XRP.

▪️The company, through XRP and XRP Ledger, is fighting for market share in the global payment ecosystem.

In a recent release, American technology company Ripple Labs Inc. confirmed that FedNow’s network effects will transform payments and boost XRP. This disclosure highlights Ripple’s relevance as an enterprise blockchain solution in crypto.

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FED'S UPCOMING PROJECTIONS TO SIGNAL DEEPER CUTS THAN PREVIOUSLY EXPECTED: CITI

Investing.com -- The Fed's updated projections are likely to show that policymakers warming up to cutting rates deeper than previously expected to shore up the economy, Citi analysts said in a recent note, ahead of the central bank's monetary policy meeting next week.  

"Fed officials will need to significantly update their Summary of Economic Projections next week," the analysts said. "The unemployment rate at the end of this year will be revised up and the path for policy rates revised down."

The analysts expect the voting Fed members' projections, or "dots," to show 100 basis points of cuts this year, compared with the Fed's June dots showing just one 25 basis point cut.

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IOTA NEWS: LEADING BLOCKCHAIN INNOVATION IN EUROPE WITH WEB3 SOLUTIONS AND REGULATORY COMPLIANCE

▪️IOTA has highlighted some key developments and achievements that position it as a reliable partner in the European setting.

▪️Recently, IOTA was shortlisted as one of the three finalists of the European Blockchain Services pre-commercial procurement (PCP).

IOTA (IOTA), in a recent blog post, detailed how its consistent demonstration of values makes it a reliable partner for both regulatory solutions and technical advancement in the DLT ecosystem. Outlining some of its key updates, the post mentioned the selection of its Web3 identification solution for this year’s Sandbox.

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SEC crypto enforcement hits $4.7B this year, rising 3,000% from 2023

The SEC is having a record crypto enforcement year, bolstered by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon.

The United States Securities and Exchange Commission has imposed nearly $4.7 billion worth of enforcement actions against crypto firms and executives in 2024, an over 3,000% jump from 2023.

The SEC’s record-setting year was mostly boosted by its massive $4.47 billion settlement with Terraform Labs and its former CEO Do Kwon in June — its “largest enforcement action to date,” according to a Sept. 9 report from Social Capital Markets.

The regulator’s 11 enforcement actions in 2024 netted a 3,018% increase from its $150.3 million worth of fines in 2023 despite taking 19 fewer actions against crypto firms.

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BRICS NEWS

El Salvador Proposes Crypto Trade With BRICS, Ditching US Dollar

El Salvador proposes crypto trade with BRICS, aiming to reduce dependence on the US dollar and enhance economic cooperation.

Russia's new crypto trade law enables El Salvador to simplify trade and evade Western sanctions, boosting bilateral trade.

El Salvador's crypto integration with BRICS signals a major shift in global trade dynamics, challenging US dollar dominance.

El Salvador recently proposed using cryptocurrency for trade with the BRICS alliance, aiming to reduce reliance on the US dollar. This move follows Russia's recent legislation allowing crypto for international trade. The legal shift, set to take effect in September, allows Moscow to circumvent Western sanctions.

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XRP NEWS: TOP CRYPTO FOUNDER CLAIMS XRP CAN BECOME “WORLD MONEY”

▪️Versan Aljarrah highlights XRP’s potential to become a global currency and disrupt traditional banking systems.

▪️Ripple’s technology offers faster, more affordable cross-border payments, partnering with banks to enhance their systems.

XRP, a prominent digital asset in the cryptocurrency market, is gaining attention for its potential to reshape the financial landscape. According to Versan Aljarrah of Black Swan Capitalist, XRP possesses the potential to become a worldwide currency. His recent comments have underlined the role of this asset in subverting conventional banking models and thus integrating itself more into the finance industry.

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Ripple Targets FCA Approval, Eyes London IPO by 2025

▪️Ripple’s FCA approval may come by December 2024, setting the stage for a potential London IPO in 2025.

▪️Ripple is expanding XRP Ledger with features like NFTs, smart contracts, DEX, and AMM to strengthen its ecosystem

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Ripple’s protracted battle with regulatory hurdles took another crucial turn when Judge Torres granted Ripple’s motion for a stay on the monetary penalty. This judgment is regarded as a critical development, potentially benefiting Ripple’s efforts to obtain permission from the UK Financial Conduct Authority (FCA).

Ripple Overcomes Regulatory Hurdles, UK License and London IPO in Sight

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WHY RIPPLE IS HOLDING BACK FROM A U.S. PUBLIC OFFERING

▪️Ripple avoids a U.S. IPO due to regulatory uncertainty, particularly the SEC’s hostility.

▪️Ripple’s diverse political affiliations include XRP donations to Donald Trump’s 2024 campaign.

Ripple CEO, Brad Garlinghouse, has stated that the company has no plans to go public in the US. The challenging regulatory environment, particularly the SEC’s harsh treatment of cryptocurrency startups like Ripple, is a major driving force behind this decision.

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PETER BRANDT AND PETER SCHIFF DEBATE GOLD AND BITCOIN

▪️Peter Brandt and Peter Schiff debated Gold and Bitcoin's performance.

▪️Schiff criticized Bitcoin ETFs, while Brandt suggested a long-term view.

▪️Gold is seen as safe, Bitcoin as risky, with differing future outlooks.

Famous investor Peter Brandt and long-time cryptocurrency critic Peter Schiff engaged in a debate over Gold and Bitcoin $54,220.27.

The discussion began when Schiff highlighted the poor performance of Bitcoin ETFs. Schiff pointed out that since the launch of Bitcoin ETFs, their gains have been below 10%, while gold has shown a 24% increase.

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THE UN’S SUMMIT OF THE FUTURE IS ONLY WEEKS AWAY YET THE PUBLIC REMAINS IGNORANT

A resetting of the global financial system is a crucial component of their plans.

With the UN’s Summit of the Future less than 20 days away the vast majority of the public has no idea governments of the world are set to sign the so-called Pact for the Future.

On September 22 and 23, the United Nations member states will gather in New York City at the UN headquarters for the historic Summit of the Future with the intention to sign the Pact for the Future. This document is expected to radically accelerate the push towards the completion of the UN Sustainable Development Goals (SDGs) and the Agenda 2030.

The Summit of the Future is taking place during the 79th session of the annual UN General Assembly. The summit has been in the making since at least 2022 after repeated calls by UN Secretary-General Antonio Guterres to shift financial resources to rapidly complete the Agenda 2030 goals set by the UN in 2015.

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XRP POWERS UP CROSS-BORDER PAYMENTS – RIPPLE’S SOLUTION REDUCES COUNTERPARTIES AND SPEEDS UP TRANSACTIONS

▪️Ripple Payments addresses these challenges faced by businesses, such as liquidity issues and slow settlement, by using XRP crypto and the XRP Ledger.

▪️This system helps crypto businesses streamline operations, improve customer experience, and expand their global reach while reducing risks related to FX and crypto volatility.

With the growing adoption of crypto, traditional financial infrastructure has proven to be absolutely inadequate to cater to the needs of crypto and blockchain-powered companies.