Blockchain
Ripple and SBI Holdings Subsidiary Announce Strategic Partnership
Crypto payments firm Ripple and Japanese financial giant SBI Holdings subsidiary announced a strategic partnership on Tuesday. The company will help increase the use of XRP Ledger and issue non-fungible tokens (NFTs) on the blockchain, boosting the adoption of XRP in the community.
SBI and Ripple Expand Partnership for XRP Adoption
In a press release on August 13, SBI Digital Community Co., a subsidiary of SBI Holdings, revealed the plan to promote XRP Ledger in the web3 community. The move comes after a strategic partnership with Ripple Labs.
XRP Ledger is a public blockchain that enables fast, low-cost, and sustainable cross-border payments such as Ripple Payments. The company also contributes to the open-source development of this blockchain.
“Through this strategic partnership, we will increase the opportunities for individual users to use the XRP Ledger through “Bto3 Web3 community operated by SBI Digital Community, and work to popularize the XRP Ledger.”
The web3 community will also issue non-fungible tokens (NFTs) on the XRP Ledger. It will also help support users in learning about the blockchain and Ripple. The web3 community plans to use NFT marketplace xrp.cafe for the distribution and buying and selling of NFTs. In addition, the SBI Digital Community will pay XRP rewards to creators and other contributors.
SBI Holdings Support to XRP
Ripple’s partner SBI continues to expand its crypto presence. including supply chain, new remittance corridors, and mobile payment applications. The company also plans to put Ripple and XRP in the spotlight at the 2025 World Expo.
In addition, SBI recently announced plans to establish an investment management company with Franklin Templeton to enter Bitcoin ETF market. However, the current stance of the Japanese top final regulator remained cautious on the Bitcoin ETF approval.
XRP price jumped 1% in the past 24 hours and 14% in a week, with the price currently trading at $0.57. The 24-hour low and high are $0.560 and $0.578, respectively. Furthermore, the trading volume has decreased by 21% in the last 24 hours, indicating a decline in interest among traders.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Sui Foundation has recently made an important partnership agreement with Franklin Templeton Digital Assets, which will help develop DeFi solutions on the Sui platform. This will give the Sui ecosystem developers support and additional guidance in enhancing blockchain solutions and products.
Franklin Templeton Joins Sui Foundation to Support Blockchain Projects
A recent blog post reveals that Franklin Templeton Digital Assets will partner with the Sui Foundation to support developers deploying and working on Sui. The partnership will increase the use of decentralized finance (DeFi) in the execution of various projects and the deployment of enhanced blockchain technologies.
Franklin Templeton brings years of experience in blockchain-based technology, including node validation and investment strategies. Its dedicated research team focuses on tokenomics and leverages data science for informed decisions. Key projects highlighted by the partnership include Deepbook, Karrier One, and Ika, which showcase the scalability and security of the blockchain.
Sui Blockchain Records Impressive DeFi Growth Metrics
The blockchain has demonstrated remarkable performance in the DeFi sector since its mainnet launch in May 2023. It recorded a 675% growth in total value locked (TVL) and a 956% increase in DeFi transaction volume. These metrics underscore the platform’s efficiency, enabled by its massive parallelization technology, low transaction latency, and consistently low gas fees.
Projects like Deepbook and Karrier One benefit from Sui’s advanced infrastructure, driving developer interest and ecosystem expansion. The partnership with Franklin Templeton will boost this growth trajectory further.
Can Price Soar to $18 After 740% Rally?
Additionally, the blockchain’s native token, SUI, has seen a 740% price increase in just four months, outperforming other Layer-1 blockchains like Solana. The token is currently trading at $3.51, with analysts predicting that the SUI price could reach $18 during this bull cycle, provided it breaks key resistance levels at $3.93. Market analysts note that the price rally was driven by the blockchain’s innovative capabilities and growing DeFi adoption.
Recently, the Sui Network faced a two-hour outage that temporarily halted block production. Validators encountered technical challenges, prompting the Sui team to deploy a fix swiftly. While the network resumed normal operations, the incident raised concerns among the community.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
- Bangkok will host the Open AGI Summit on November 13 alongside DevCon 2024.
- The summit focuses on ethical AI development through decentralized governance models.
- Prominent speakers include Pramod Viswanath and Sandeep Nailwal from leading firms.
Bangkok is set to be the epicenter of innovation as it hosts the Open AGI Summit on November 13, 2024, in conjunction with DevCon, a major blockchain developer conference.
These unique events aim to explore the intersection of Artificial General Intelligence (AGI) and decentralized technologies, fostering dialogue about the ethical implications of AI in a rapidly evolving digital landscape.
Supported by flagship partners including Google Cloud, Sentient, Polygon Labs, and SCB 10X|SCBX, the Open AGI Summit promises to engage both AI and blockchain communities.
All eyes on the Open AGI Summit
As the world advances toward AGI, concerns about centralized control and potential societal risks are becoming increasingly prominent. The Open AGI Summit seeks to address these anxieties by examining how decentralized, blockchain-based governance models can lead to safer and more transparent AI development.
By emphasizing collaboration and ethical dimensions, the summit aspires to ensure that AGI serves as a tool for universal benefit and prosperity.
The summit will feature prominent voices from the fields of AI, blockchain, and web3, including Pramod Viswanath, a professor of engineering at Princeton University, and Sandeep Nailwal, co-founder of Polygon.
Nailwal highlights the critical decision society faces: to allow a handful of corporations to dominate AI technology or to embrace a future where AI is open, transparent, and accessible to all. He asserts that blockchain technology can ensure the equitable distribution of AI benefits, guided by collective values.
Discussions at the summit will cover essential topics, including advancements in AI safety research, decentralized governance structures, and ethical considerations in AI development.
Attendees can expect a deep dive into the innovative synergy between AI and blockchain, emphasizing emerging applications that could redefine industries.
Ultimately, the Open AGI Summit aims to bridge the gap between academia, industry, and the decentralized AI community, fostering collaboration towards responsible AGI development.
This convergence is essential for ensuring that AI technologies are built with a commitment to ethical principles and societal benefit, marking a significant step toward a safe and beneficial future for AGI.
- Bangkok will host the Open AGI Summit on November 13 alongside DevCon 2024.
- The summit focuses on ethical AI development through decentralized governance models.
- Prominent speakers include Pramod Viswanath and Sandeep Nailwal from leading firms.
Bangkok is set to be the epicenter of innovation as it hosts the Open AGI Summit on November 13, 2024, in conjunction with DevCon, a major blockchain developer conference.
These unique events aim to explore the intersection of Artificial General Intelligence (AGI) and decentralized technologies, fostering dialogue about the ethical implications of AI in a rapidly evolving digital landscape.
Supported by flagship partners including Google Cloud, Sentient, Polygon Labs, and SCB 10X|SCBX, the Open AGI Summit promises to engage both AI and blockchain communities.
All eyes on the Open AGI Summit
As the world advances toward AGI, concerns about centralized control and potential societal risks are becoming increasingly prominent. The Open AGI Summit seeks to address these anxieties by examining how decentralized, blockchain-based governance models can lead to safer and more transparent AI development.
By emphasizing collaboration and ethical dimensions, the summit aspires to ensure that AGI serves as a tool for universal benefit and prosperity.
The summit will feature prominent voices from the fields of AI, blockchain, and web3, including Pramod Viswanath, a professor of engineering at Princeton University, and Sandeep Nailwal, co-founder of Polygon.
Nailwal highlights the critical decision society faces: to allow a handful of corporations to dominate AI technology or to embrace a future where AI is open, transparent, and accessible to all. He asserts that blockchain technology can ensure the equitable distribution of AI benefits, guided by collective values.
Discussions at the summit will cover essential topics, including advancements in AI safety research, decentralized governance structures, and ethical considerations in AI development.
Attendees can expect a deep dive into the innovative synergy between AI and blockchain, emphasizing emerging applications that could redefine industries.
Ultimately, the Open AGI Summit aims to bridge the gap between academia, industry, and the decentralized AI community, fostering collaboration towards responsible AGI development.
This convergence is essential for ensuring that AI technologies are built with a commitment to ethical principles and societal benefit, marking a significant step toward a safe and beneficial future for AGI.
Bitcoin ETFs Could Overtake Gold ETFs by End of The Year
Bitcoin Bull Saylor Hints at Expanding MicroStrategy’s Holdings
Why Ethereum Price May Fall Under $3,000
$100K Bitcoin Is Only The Beginning, VanEck Targets $180K
Cantor Fitzgerald Deepens Tether Ties With 5% Stake Acquisition
Bitcoin Whales Remain Determined, $3.96 Billion Worth Of BTC Gobbled Up In 96 Hours
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Altcoin18 hours agoBTC Continues To Soar, Ripple’s XRP Bullish
-
Market16 hours agoWhy a New Solana All-Time High May Be Near
-
Bitcoin13 hours agoBitcoin Price Is Decoupling From Gold Again — What’s Happening?
-
Market12 hours agoWinklevoss Urges Scrutiny of FTX and SBF Political Donations
-
Bitcoin12 hours agoBitcoin Correction Looms As Analyst Predicts Fall To $85,600
-
Bitcoin11 hours agoAI Company Invests $10 Million In BTC Treasury
-
Bitcoin24 hours agoBitcoin Price To $100,000? Here’s What To Expect If BTC Makes History
-
Market10 hours agoIs the XRP Price Decline Going To Continue?
✓ Share: