![Red✨ Profile](https://pbs.twimg.com/profile_images/1793852943415881729/_sB7fx2Z_x96.jpg)
Red✨
@RedMGthaOG
Followers
3K
Following
6K
Statuses
6K
Owner of GCR TrueNews ™ Financial, Precious Metals, Banking industry, Cryptocurrency upgrades and changes, and overall transition into the eventual GCR ✨
Joined September 2022
💬 LETS TALK CURRENCY CONVERTIBILITY ➡️ Currency convertibility refers to the ability of a country's currency to be exchanged for another currency without restrictions or penalties. It signifies how easily a currency can be traded on the foreign exchange market at market exchange rates. ➡️ Concepts of Convertibility 🟣Convertibility refers to the ability to exchange one currency for another at a given rate. 🟣Degrees of convertibility range from total convertibility (unrestricted exchange) to total inconvertibility (complete inability to exchange). ➡️ Types of Convertibility 🟣Total Convertibility - No exchange controls or restrictions. 🟣Total Inconvertibility - Complete inability to exchange currency. 🟣Limited Convertibility - Unrestricted exchange within a region but with some restrictions on external transactions. 👈 This is where Iraq is currently 😉 ➡️ IMF's Role 🟣The IMF's Articles of Agreement outline obligations for currency convertibility. 🟣Article VIII specifies conditions under which members must buy balances of their currency held by other members. ➡️ Freely Usable Currency 🟣Defined by the IMF as a currency widely used for international transactions and widely traded in principal exchange markets. ➡️Stages of Monetary Integration 🟣Convertibility Agreement - Countries agree to exchange currencies without restrictions. 🟣Partial Monetary Union - Fixed exchange rates between member countries' currencies. 🟣Full Monetary Union - Single currency issued for all participating countries. 👈Similar to the EU and issued euro 😎 ➡️ Benefits and Costs 🟣Benefits include expanded trade, improved resource allocation, and reduced need for foreign exchange reserves. 🟣Costs involve constraints on economic policy, potential regional development issues, and the need for greater foreign exchange reserves in a partial monetary union. ➡️ Preconditions for Integration 🟣Achieving full convertibility vis-a-vis the rest of the world. 🟣Adopting policies to restore balance of payments equilibrium. ➡️ Exchange Arrangements 🟣Various forms of exchange arrangements are possible, including floating rates, pegging to the SDR, or pegging to a currency basket. ➡️ "Concepts of Convertibility and the Stages of Monetary Integration" ➡️ "Articles of Agreement of the International Monetary Fund" LINK ( ➡️ "Article VIII Acceptance by IMF Members: Recent Trends and Implications for the Fund" LINK (
3
8
51
RT @GoldTelegraph_: Truth permanently destroys everything in its path. It just needs to be let out.
0
147
0
RT @SMQKEDQG: In the months ahead, many banks will begin unveiling their own stablecoins. ⏰ Look out for the announcements.😶🌫️ https://t.…
0
38
0
Can we move forward now? There has been enough blood, sweat, tears shed in this space. Forward, together, is the ONLY way. That’s progress, as @DenelleDixon mentions here. We all have the SAME goal, let’s move forward together. 😎
progress is when no one has to pay a bunch of lawyers. thanks to the teams that fought..we are finally seeing progress. now let’s build.
0
1
5
This is by far one of the best, most thoroughly thought-out posts I have seen on X. Absolutely flawless, and the points made are there in black and white for all to see. XRP, Ripple, and the XRPL play a part in the future of finance. This shows you a HUGE portion of that connect. I HIGHLY suggest you read this thread, it's a long one, but so worth it! 👇👇👇
♻️ 27 out of 37 Fednow Certified Service Providers are @Ripple Partners, or are partnered with Ripple partners. FedNow aims to integrate 10,000 banks and institutions.♻️ YOU WILL WANT TO READ THIS!! 👇👇👇 $XRP community, my followers, all I ask; PLEASE SHARE THIS far and wide. It took me 10 hours just to compile all of this and prove 79% of the FedNow service providers are connected to Ripple by no more than 2-3 degrees of separation, if not directly. I always say in my videos that Ripple has gone for a top down integration with their business model. Targeting the software and treasury management providers to integrate into thousands of banks and institutions, compared to partnering with each individually. For example, SBI Holdings said of their partnership with Ripple, when they created SBI Ripple Asia: "Participants of RippleNet, which uses distributed ledger technology (DLT), can directly connect with financial institutions with a single API and instantly and reliably transfer money in more than 40 currencies to more than 70 countries." SBI Holdings has 240 subsidiaries alone. Back to FedNow and how engrained Ripple is. Now, keep in mind, FedNow would NEVER "publicly" list a company currently under lawsuit for securities sales, such as Ripple is currently, even though they are winning their case. Not until it is "fully" settled. In 2023, FedNow provides a list of 57 early adopter organizations, including financial institutions and service providers, that have completed certification in the FedNow Service. This has now grown to over 142 providers and over 1216 live participants, with the aim of reaching 10,000 banks and institutions. "This group of early adopters is now performing final trial runs on the service to confirm their readiness to support live transactions over the new instant payments infrastructure. The early adopters include 41 financial institutions participating as senders, receivers and/or correspondents supporting settlement, 15 service providers processing on behalf of participants, and the U.S. Department of the Treasury." (Now up to 35 service providers.) "In addition to the initial adopters, the Federal Reserve continues to work with and onboard financial institutions and service providers planning to join later in 2023 and beyond, as the initial step to growing a robust network aimed at reaching all 10,000 U.S. financial institutions." Although some of the banks listed have ties to Ripple with direct or indirect partnerships, I really wanted you to focus on the "certified service providers" section, in the link/pic below. Basically, the companies who provide the software or treasury systems these banks run on. First I want to give some context of TWO organizations that shape and guide the FedNow program. The companies below are on one or the other, or both. BOTH organizations have ties to Ripple. 1. U.S. Faster Payments Council Ripple is an ADVISING member of the council. 2. Faster Payments Task Force Lists Ripple under the "FASTER PAYMENTS SOLUTION PROPOSALS" I spent all day, going through each of these service providers, one by one, to provide documentation. 1. ACI Worldwide Corp - "ACI Supports 9% of global SWIFT traffic and 30% in the US" "ACI also supports real-time schemes around the world, meaning that any bank can use Real-time Payment Systems to support SWIFT FIN, gpi, DLT (e.g. Ripple), Wire and immediate payments." * Notice how Ripple is synonymous with DLT to them? It doesn't mention $BTC or $ETH as viable options. * 2. Alacriti - Partners include The Clearing house (comprised of a lot of Ripple Partners), AWS (Ripple Partnership), U.S. Faster Payments Council (collaboration with Ripple). Partnered with Jack Henry. See below for Ripple connections. 3. Aptys Solutions - Partnered with the U.S. Faster Payments Council, which Ripple is an advisor on. Partnered with Jack Henry. See below for Ripple connections. 4. BNY Melon - Head of Digital Assets leaves to join Ripple, Ripple submits proposal to help them ICO their own coin. Which we can assume they would have run on the XRPL. 5. C&M Software LLC - Partnered with the Clearing House, which is comprised of many Ripple Partners. "Leveraging the availability of FedNow, which directly covers approximately 6,000 financial institutions in the USA and indirectly reaches an additional 7,000 through correspondent banking systems..." "...all that is needed is the adoption of the payer and payee to FedNow or a Clearing House approved by C&M Software." 6. CGI - Ripple Partner. CGI then partnered with two major Canadian banks, the Bank of Montreal and the National Bank of Canada. 7. COCC, Inc. - Partnered with FIS (Ripple Partner, see below). 8. DCI - MIT DCI runs a Ripple validator node. DCI is partnered with the Federal Reserve of Boston. David Schwartz works closely, and participates in events, with MIT FINTECH. The Federal Reserve of Boston has referenced Ripple in their study paper in 2014. 9. ECS Fin, Inc. - Ripple partner, lists Ripple in their IMS hub "IMS supports connectivity to SWIFT, SEPA, real-time schemes, CHIPS, Fed wire, ACH, Ripple and Blockchain for sending and receiving financial messages" 10. Finastra - Ripple partner "...and Finastra have teamed up to offer Ripple’s blockchain technology through Finastra’s payments solutions to support fast cross-border payments. FinTech Automation" 11. FIS - Ripple partner 12. Finzly - Finzly has 6 listed partners. 3 of 6 are Ripple partners. Partnered with AWS, which is also a Ripple Partner. Partnered with PCBB (PCBB is a liquidity provider of FedNow). PCBB helped found the Faster Payments Council and works shoulder to shoulder with Ripple here. Parterned with Corpay, which is partnered with Ripple. Partnered with Thought Machine, which is partnered with TransferGo, a Ripple Partner. Partnered with Jack Henry. See below for Ripple connections. 13. Fiserv Solutions, LLC (Fiserv NOW, Fiserv Payments Exchange) - Partnered with Visa, Mastercard and the Clearing House. All 3 have direct and indirect partnerships with Ripple. See below. 14. Form3 - Partnered with Mastercard (Ripple partnership) Partnered with Barclays. Barclays and Ripple invested in a start up together to leverage XRP, called SendFriend. 15. FPS GOLD - FPS GOLD is partnered with Corpay, Corpay comprised of mostly Ripple partners. See above. 16. IBT Apps - Partnered with FIS and fiserv. See above for Ripple connections. Partnered with Jack Henry. See below for Ripple connections. 17. Jack Henry - Partnered with Alacriti, Aptys, Finzly, IBT Apps, Temenos Group, and Metallicus. All have Ripple connections or partnerships. 18. Open Payment Network - Founding sponsor of Faster Payments Council. Which means they work side by side with Ripple, with Ripple advising them. Integrated with the Clearing House, which is full of Ripple Partners. 19. Magic Wrighter - Partnered with fiserv. See above for Ripple connections. 20. Metallicus - Partnered with fiserv, Jack Henry and Temenos. All have Ripple connections listed in the post. 21. Narmi - Partnered FIS, Jack Henry, fiserv, and COCC. See above for Ripple connections. 22. NetXD, Inc - Partnered with Visa, Mastercard and integrated with the Clearing House. All have Ripple connections and partnerships. When you look at NetXD's website, it also is almost the exact same "model" laid out in Ripple infographics. 23. Temenos - Ripple Partner. Also integrated into multiple core payment networks in the U.S. and abroad. Temenos is also partnered with Accenture, Microsoft, IBM. All Ripple partners. 24. Payfinia, A Tyfone Company - Payfinia is part of Tyfone. Payfinia launched the Instant Payment Xchange (IPX) which is integrated into FedNow and the Clearing House. The infographic for IPX looks exactly like Ripple's infographics and API use cases. Tyfone is partnered with Jack henry, FIS, Visa and Fiserve. All of which have Ripple partnerships or connections. Remember, top down integration. 25. Vertifi Software, LLC - Partnered with Tyfone, fiserv and Fintilect. Fintilect is partnered with fiserv, the Federal Reserve System, FIS and Jack Henry. So Vertifi's partner, has multiple Ripple partners. 26. Visa - Visa has bought TWO companies FROM Ripple. Earthport for $250 million. Earthport is partnered with Bank of America. "Earthport, which provides cross-border payment services to banks and businesses, has been partners with Ripple, the blockchain-based payment network, since 2015." "Earthport’s clients include Ripple, Bank of America, Hyperwallet, Transferwise, Payoneer, and Japan Post Bank." "The API not only provides access to the Ripple ecosystem, but also offers access to the wide array of payment methods that Earthport offers in over 200 countries." CurrencyCloud for $900 million. "CurrencyCloud is a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments." 27. Volante Technologies - Volante Technologies is partnered with Microsoft, AWS, U.S. Faster Payments Council, Swift, Accenture, Deloitte and Ripple. ALL Ripple Partners or integrated into Ripplenet. I hope everyone understand the magnitude of what this means. The FedNow aims to have 10,000 banks and institutions on board. That is in the U.S.A. ALONE. Remember how Brad Garlinghouse said "95% of their business and partnerships were OUTSIDE the country"?? Well, I just showed you how easily Ripple will be implemented into thousands and thousands of banks, from the top down, with a simple API download and plug in. Now imagine what "95%" of the rest of their business and partnerships look like. WE ARE TALKING MULTIPLE TENS OF THOUSANDS OF BANKS. WE ARE TALKING MULTIPLE HUNDREDS OF TRILLIONS OF DOLLARS GLOBALLY. ALL. OF. THE. MONEY. $XRP THE STANDARD. $RLUSD IS THE TROJAN HORSE.
1
12
42
RT @GoldTelegraph_: Elon Musk just endorsed Ron Paul to lead an investigation into the Federal Reserve. Yes. 💪 😉
0
845
0
RT @Cointelegraph: 🇭🇰 BULLISH: Hong Kong recognizes Bitcoin and ETH as proof of assets for investment immigration applications. Clients mu…
0
328
0
RT @RedPilledPro: I’ve stayed out of commenting on this so far, but I can’t resist. Is it Ripple AND Stellar or Ripple VS Stellar? One ha…
0
55
0
RT @jerallaire: .@circle is excited to participate in this pilot effort from the @CFTC to enable USDC as a form of collateral in futures ma…
0
32
0
No. You are not understanding the post at all. This is not for ANY INDIVIDUAL, this is for a corporation's investment portfolio, NOT an INDIVIDUAL. And this would need to be accessed thru the proper legal channels. There are other ways even people with no money can stack gold and silver. When I started it was $16/oz for silver. So, I bought exactly 1 silver oz every week.
1
0
3
@whaley_ste18483 This has nothing to do with being gold backed. This is taking a percentage of their total value and using that fiat to invest in a hard asset as part of their (the companies) investment portfolio.
3
0
1
🌐 CFTC Announces Crypto CEO Forum to Launch Digital Asset Markets Pilot 🔹The CFTC (Commodity Futures Trading Commission) announced a Crypto CEO Forum to launch a digital asset markets pilot program focused on using tokenized non-cash collateral like stablecoins. Participating firms include Circle, Coinbase, MoonPay, and Ripple. 🔹Acting Chairman Caroline Pham emphasized the importance of responsible innovation and regulatory clarity for digital assets through this initiative. The pilot program builds on previous successes with CFTC pilots and aims to expand the use of distributed ledger technology. ➡️ What is tokenized non-cash collateral? 🔹 Tokenized non-cash collateral refers to physical or financial assets (e.g., real estate, bonds, or stablecoins) converted into digital tokens on a blockchain. These tokens represent ownership or value in the underlying asset and can be used in transactions or as collateral for securing loans. ➡️ Other countries with similar approaches in their regulation of digital assets and blockchain technology 🔻 🔹United Kingdom (FCA Sandbox) - The Financial Conduct Authority (FCA) has a regulatory sandbox that allows businesses to test financial products and services, including those based on blockchain or cryptocurrency, in a controlled environment. 🔹Singapore (Monetary Authority of Singapore (MAS Sandbox) - The Monetary Authority of Singapore has a similar regulatory sandbox, focusing on financial services, including those involving digital assets. 🔹Switzerland (FINMA and Crypto Valley) - Switzerland has long been a hub for digital asset businesses, particularly with its "Crypto Valley" in Zug. The Swiss Financial Market Supervisory Authority (FINMA) has created guidelines and frameworks that foster digital asset innovation while maintaining regulatory clarity. This includes sandbox-like structures for testing digital financial products. 🔹Hong Kong (SFC Sandbox) - The Securities and Futures Commission (SFC) in Hong Kong operates a sandbox for fintech and digital assets, allowing businesses to test their digital asset platforms and offerings under regulatory oversight. 🔹United Arab Emirates (ADGM and DFSA) - The Abu Dhabi Global Market (ADGM) and Dubai Financial Services Authority (DFSA) have been progressive in creating regulations for digital assets and running pilot programs to attract blockchain and crypto businesses. The UAE offers a sandbox environment for firms to test financial technology, including crypto-related innovations. 🔹Australia (ASIC Innovation Hub) - The Australian Securities and Investments Commission (ASIC) provides an "Innovation Hub," a sort of regulatory sandbox, which helps fintech companies and digital asset businesses navigate the legal landscape while testing innovative products and services. ➡️ This CFTC pilot could potentially lead to a regulatory framework for the use of tokenized non-cash collateral in digital asset markets. By testing real-world applications with industry leaders, the CFTC is gathering data and insights that may inform future rules and guidelines for integrating stablecoins and distributed ledger technology into traditional financial systems. This helps promote responsible innovation while maintaining market integrity and financial stability. The idea behind these digital pilots is to provide a controlled, sandboxed environment for testing new technologies and innovative practices, allowing regulators to gain insights without the risks of full-scale implementation. © Red™✨ ➡️
0
0
3
🌐 The Bank of South Sudan launches its National Instant Payment System 🔹The Bank of South Sudan (BOSS) has launched its National Instant Payment System (NIPS), in partnership with the AfricaNenda Foundation. This marks an important step in modernizing South Sudan's financial and payment infrastructure. NIPS aims to integrate with other critical infrastructures, including the Automated Clearing House (ACH), Real-Time Gross Settlement (RTGS) systems, and instant fund transfer (IFT). 🔹 The system is designed to enable real-time, secure, and cost-effective transactions, promoting interoperability between banks, mobile money providers, and other financial institutions. It facilitates various financial transactions, including person-to-person (P2P), person-to-business (P2B), government-to-person (G2P), and person-to-government (P2G) payments. 🔹The collaboration with AfricaNenda Foundation is crucial in developing a detailed roadmap for NIPS implementation, building capacity for BOSS and financial institutions to manage the system effectively, and ensuring integration and interoperability with banks and other stakeholders. 🔹BOSS (Bank of South Sudan) will continue to prioritize meeting the needs and preferences of clients while staying compliant with regulatory requirements and laws. The overall goals include fostering financial inclusivity and efficiency, improving the financial services landscape, and creating a more resilient digital economy in South Sudan. ➡️
0
0
4
🌐 R3 and IDEMIA Secure Transactions collaborate on offline CBDC payments 🔹 R3 has partnered with IDEMIA Secure Transactions (IST) to integrate offline payment capabilities into its digital currency platform. The collaboration aims to support the development of Central Bank Digital Currencies (CBDCs) by enabling secure transactions both online and offline. 🔹 IST will contribute its offline payment technology, which includes hardware security, offline transaction protocols, and device-based security measures, allowing users to conduct transactions without an internet connection. The initiative aims to improve financial inclusion by facilitating digital payments in areas with limited internet access and improving the resilience of digital financial services. 🔹 CBDCs issued on R3's platform (Corda) can be stored and used for offline transactions through various devices, enhancing financial inclusion and payment security. Representatives from IDEMIA emphasized that integrating offline functionality into CBDCs could improve access to digital payments and support security through chip-based technology. 🔹Officials from R3 noted that offline transaction capabilities could improve efficiency in the financial sector by lowering transaction costs and expediting payments, and the partnership aims to further develop new digital currency features. ➡️
0
0
3