Good Morning Dinar Recaps,

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.

Good Afternoon Dinar Recaps,

QATAR LAUNCHES 2024 DIGITAL ASSETS FRAMEWORK TO LEAD GLOBAL FINANCE

▪️Qatar's QFC Digital Assets Framework 2024 provides a legal foundation for digital asset activities.

▪️The framework was developed through extensive consultation with various stakeholders and includes initiatives like the QFC Digital Assets Lab.

▪️Qatar's initiative is expected to position the country as a leader in digital finance, attracting more companies and driving economic growth.

Qatar is making a major move in the world of finance with the launch of the QFC Digital Assets Framework 2024. Created by the Qatar Financial Center Authority and the Qatar Financial Center Regulatory Authority, this new framework aims to transform how digital assets are managed in the country.

Good Morning Dinar Recaps,

METAPLANET TEAMS UP WITH RIPPLE ALLY SBI TO BOLSTER ITS BITCOIN-BUYING STRATEGY; XRP PLANS NEXT?

Metaplanet, a major Japanese-headquartered prolific Bitcoin (BTC) investor now recognized as a MicroStrategy imitator,” is collaborating with Ripple’s banking partner, the financial conglomerate SBI.

The strategic partnership is aimed at supporting Metaplanet’s ongoing efforts to expand its Bitcoin corporate treasury.

SBI To Provide Metaplanet With Custody And Trading Support
Metaplanet — known as “Japan’s MicroStrategy” on Crypto Twitter — has joined forces with SBI VC Trade, a division of Tokyo-based SBI Holdings.

Good Evening Dinar Recaps,

Fed Governor Waller questions need for speed in cross border payments

In a speech last week, Federal Reserve Governor Christopher Waller argued that “not all frictions that slow down payments are bad”. While he was mainly questioning the interconnection of faster payment systems, he touched on correspondent banking.

As context, the Bank for International Settlements (BIS), the central bank to the central banks, is working on Project Nexus for interlinking faster payments via its innovation hub.

Additionally, Project Agorá plans to use tokenization and wholesale CBDC to speed up cross border payments via correspondent banks. The Federal Reserve Bank of New York is a participant in that project, but “strictly for research and experimentation.”

Good Afternoon Dinar Recaps,

This Week in AI: OpenAI signs landmark AI deal with US

OpenAI is preparing to raise its next funding round, seeking to secure billions of dollars at a $100 billion valuation. Tech giants like Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), and Nvidia (NASDAQ: NVDA) are rumored to be interested in participating.

Each of these companies is no stranger to OpenAI:

▪️Microsoft has been a primary investor, owning a 49% share of the company thanks to its $13 billion investment in 2019.

▪️Apple partnered with OpenAI in June to use its models to power upcoming AI features.

▪️Nvidia, the dominant chipmaker, provides OpenAI with the infrastructure it needs to train and run its models.

Good Morning Dinar Recaps,

Hedera’s (HBAR) Daily Transactions Soar 46% as Market Cap Corrects

▪️Hedera’s daily transactions increased by 46% in Q2 2024, driven mainly by the Hedera Consensus Service.

▪️HBAR’s circulating market cap dropped by 29%, but its rank among all tokens improved from 36th to 30th.

According to a report from research firm Messari, Hedera (HBAR) experienced a notable surge in daily transactions during the second quarter of 2024, marking a 46% increase quarter-over-quarter (QoQ).

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ARE XRP AND XLM CORRELATED? RIPPLE CTO SHARES INSIGHTS

XRP and Stellar (XLM) are two cryptocurrencies that have been constantly compared in terms of price growth and development. Both digital assets are committed to facilitating cross-border transactions. In continuance to a discussion revolving around XRP that initiated in March, the Ripple CTO, David Schwartz has shared some interesting insights into the correlation between XRP and Stellar (XLM).

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“SAME RISKS, SAME RULES”: THE SEC’S SELECTIVE APPROACH TO CRYPTO REGULATION

When it comes to cryptocurrency regulation, the SEC views most cryptocurrencies as securities, favoring the concept of ‘same risks, same rules’.

But is it possible it’s not being consistent itself?

The same rules aren’t being followed when it involves the custody of crypto-assets.

Good Afternoon Dinar Recaps,

BINANCE ANNOUNCES SUPPORT FOR BIGGEST CARDANO HARD FORK IN HISTORY: DETAILS

With the Cardano hard fork called Chang approaching, the world's largest cryptocurrency exchange, Binance, has announced that it will be supporting the network update.

The Chang hard fork is expected to occur on Sunday, Sept. 1, at approximately 9:45 p.m. UTC. An hour before the event, Binance will suspend all deposits and withdrawals from ADA, the network's native token; trading in the asset, however, will not be affected.

Good Evening Dinar Recaps,

BRIDGE RAISES $58M FOR STABLECOIN API TO ENABLE REAL WORLD B2B PAYMENTS

Yesterday stablecoin startup Bridge announced it has raised a cumulative $58 million in venture funding from Sequoia, Ribbit, Index, Haun Ventures and others.

It’s initially offering two sets of APIs, one for issuing stablecoins and the other for orchestrating payments. Bridge supports a variety of stablecoin use cases, but the company’s Head of Revenue seems particularly focused on global B2B payments.