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Welcome back to the show everybody check Out these headlines bricks dollarization There's real things coming we got new Evidence of that today we also have Tethers in deep trouble again and we're Going to go over it with you right at The same time that ripples launching a Stable coin coincidence I don't think so And then we've got Eric Van miltenberg From Ripple tells us exactly how many Millions of transactions and money have Happened on The xrp Ledger the number Will blow your mind we got that and so Much more somebody roll that beautiful Intro digital perspectives with Brad KES Come on In welcome back to the show you can Follow us on Twitter Youtube and dig Prospectives dcom for exclusive content Right now $ 2.68 trillion market cap for Crypto to markets off by 3.2 68,000 Plus For Bitcoin 3,400 Plus for ethereum 107 Billion plus market cap for tether at The moment xrp 60 cents at number six Spot we're back at the number six spot Uh we're off by 4.3 and up by 4.1 on the 7 Day right now the range of price Between 60 and 63 cents we'll keep an Eye on it as we're smack dab in the Middle here remember the automated Market maker Amendment fix is finally Going to launch and that should be today Ladies and gentlemen or tomorrow so this Is getting super exciting the fix is in
As they say right so super happy about That no doubt now I want to start with This because some of this material is Pretty heavy but I tell you we have a Clip from an amazing conversation from Uh James mcfaden and uh Shawn McBride Former rippler and we have a highlight For you you are going to want to see and We're going to give it to you right here But let's start by setting the water Here where we're in un chartered waters For the Petro dollar take a listen You've heard this on this channel take a Listen we are in uncharted waters Imagine the Titanic hitting an iceberg But not knowing how deep the Atlantic Was it it's it's truly unprecedented and Who knows exactly what's going to happen And sadly I have to answer your question Now who knows on exactly what time Horizon oh sorry what what exactly Sor I Was going to say he was saying he's not Sure the time Horizon it's true it's a Mugs game to predict a specific moment When things implode to use Sensational Terms but I would argue it's happening In real time right now the evidence is All around us I mean many of your Viewers are pretty sophisticated in Understanding debt in currency markets And precious metals and and in rates and Yields but uh I look at it again what's Happening in real time with central Banks what's happening in term of real
Time with uh with the oil trade what's Happening in real time with Dollarization and these were Sensational Themes just a couple years ago and now They're happening at rapid Pace he's Absolutely right now the rest of the Clip just Echoes the same points that Are being made there but this is Absolutely right and they continue to Focus on bricks and what they're doing Right new payment system I mean there's A whole thing happening here but we got It for you and there's a lot to listen To but look at this the show is about to Start says Michael Branch give him a Follow that's an OG in the space right Here it should be uh 100,000 people Following him not 11 the US Treasury is Raising alarms over Russia's alleged use Of the stablecoin USD tether to bypass International sanctions and sustain its Military operations this was just cited By Wally Ado Wally ad Amo from the uh US Treasury he's a deputy Treasurer over There and he just made that testimony in Front of Congress yesterday well here is A Great Clip and this entire interview Is fantastic so go listen to it on uh James 68 J's uh channel the whole thing Is great I wish I could play the whole Thing but I want to give you this Because they get down into this where They talk about bricks the connection to All the countries in bricks take a
Listen here this is remarkable shout out To sha McBride and James in the Bank of International settlements your thoughts On That So so yeah Um you know obviously you know Ripple Ripple's part of the you know the the Crossb payments task force right U They're also a part of you know the um The interoperability and and um the Extension task force so they put two and Two together so is Swift so is Mastercard um that should probably tell You something Um you know bricks um you know I think Ashley Prosper did a a pretty good job Of putting two and two together there She did a lot of really good research on Hey who's who's Ripple uh partners and ripple you know Really really connected to in terms of Country bricks countries um and you know She she put a lot of things together There um and it turns out pretty much All of them um right so I you know um You know without going too far in depth There I think um there there have been Conversations between I mean you know Look at Egypt as an example um you know There's there's recent news that Ripple's working with um a bank in Egypt To do remittance Services between Egypt And and another country you know
Remittance um I would say is you know Just a very small um chunk of um you Know crypto Services uh they're they're Doing the same with SBI remittance in in Japan between the Philippines and and Japan but Um it's it's a great way for um central Banks or Banks to to start using Ripple Services um and and explore those Services before fully diving in um and You know I Think tutions are are risk averse right So they don't want to jump fully in or Flip the switch uh right away they want To they want to test out services or or Start small um and I think remittances Are a good way to do that um Um and and then you know uh you know Flip the switch later on to um to other Other services if you will um here I Think um you know bricks countries are Are exploring um um a number of Different things Cbdcs um you know crossb payment Services uh you know their own Centralized yeah you know a a lot Um uh Ripple is a part of it we'll just Say that Yeah Ripple is a part of it we'll just Say that yeah I can't do anything but Laugh man because you know you're Reminding me of one of my good buddies You got this like I I've seen you face To face long enough now to know that
That smirk means that I wish I could Tell you and I wish I could say it's Just me and you but unfortunately There's almost 1,100 people watching Live so I would say tell me something sh Of between you and I but it would be a b Fce live we got we got 1100 people Watching between uh YouTube and uh Twitter look look at the history of you Know look at the history uh of Everything yeah you got to start Somewhere right and and um you know I go Back to this Amazon stock uh when I Joined Amazon it Was I mean they they've done stock Splits obviously but um when I joined Amazon like I forget what it was But it was so low and then you know it Exploded right and went from went from Hundreds of dollars to thousands of Dollars um same concept right they Reinvested in the company reinvested in The company reinvested in the company AWS blew up advertising blew up Alexa Blew up stock blew up that's right so I Think you know same concept there um you Know it's uh it's got a ton of potential It's got a ton of utility and I think um I think it's just going to go go Bonkers After this case uh Ends Um so yeah I think that's where we're at Man um Let me let me put a plugin for xrp Las
Vegas I'm I'm really disappointed I Can't be there um really disappointed I Can't meet you in person there can't Meet Brad KES can't meet Molly Elmore I Can't meet a bunch of other people that I was looking forward to meeting there And uh you know I I would encourage Anyone that that can be there you should Go Network learn more about the Technology behind the xrpl learn more About what's being built on the xrpl and Off the xrpl you know learn more about The people involved uh Network um and And enjoy yourself uh it's going to be It's going to be a great event yeah I'm Glad you brought that question up and uh So cool of Sean to bring that up and to Give us a a plug and I cannot wait to Meet him in person I know we'll get to Do it sooner rather than later you will Be missed Sean and uh James we do look Forward to seeing you as well Sean I'll Reach out to you man I hope you're doing Well uh let's take a look at this now to Add into all the What's Happening Here Wally Ado here talking about crypto Asking for more control from Congress Take a listen to what's going on Here help us understand you know we've Heard uh from from your boss uh Secretary Yellen about her worries uh About uh cryptocurrencies for quite some Time but what are the regulations that You think need to be put in place to
Prevent uh the illicit use of Cryptocurrency uh thanks for having me It's good to be with you and I think Part of what we need Congress to do is Simply update the regulatory authorities They've given us over the last 30 years And when they designed things like the Bank secrecy act we didn't have Cryptocurrency or digital assets and we Need to make sure that those definitions Are now captured within the bank secrecy Act and the other legislation that we Use to both regulate but after but also Go after Bad actors we also need a tool That allows us to go after some of these Bad actors who are claiming to be dollar Backed but trying to escape us Jurisdiction ition and I I think a great Example that'll matter to your viewers Is if you're a CEO of a company or You're investing in a company one of the Things you're most worried about is Cyber security risk those cyber Criminals who are doing ransomware Attacks they're almost exclusively doing Them in cryptocurrency and what our data Has shown is that it's almost doubled The amount of money that they have Received using cryptocurrency from 2022 To 2023 which is one of the reasons we Need these new tools um while you have Been very concerned about cryptocurrency For a very long time And I I do wonder what the the shift in
Terms of the the sec's even approached To things like Bitcoin how that has Changed your view or if it changes your View about uh Bitcoin or the like now That it has truly become mainstream and I would argue has has U reached escape Velocity uh whether whether it's C Whether The Regulators are catching up With it or not I think The Regulators Are doing everything we can with the Tools we already have and I think what We need from Congress is additional Tools to make sure that we build a Regulatory environment that allows those People who want to transact safely Within the digital ecosystem to do so But also gives us the tools to be able To catch Bad actors be they terrorists Be they ransomware actors or drug Dealers who want to use this ecosystem To try and illicitly move money as well Let me ask you this this is a a Bloomberg law opinion piece says the Department of treasury's annual report On terrorism financing finds the Instances of crypto related terrorism Funding are quote less prevalent than Those involving traditional Financial Assets the treasury points out that US Banks quote remain one of the primary Avenues by which terrorist groups Attempt to move funds in or through the United States uh and laws a recent trend Of using increasingly sophisticated
Automated transaction monitoring tools Uh to help the banks identify the Suspicious activity the reason I rais This is um crypto Bulls if you will Those proponents of of cryptocurrencies Say you know what why are you always Worried about cryptocurrencies it's a Tiny piece of this and the real problem Is still in the actual banking system It's still uh US dollars that are being Used for illicit purposes this is Exactly right but he's setting up the Deputy Treasurer so he can give him the Answer he knew he came to Give so Andrew that's true and I think The thing that we are signaling to Congress is we're afraid that that risk Is only growing because as we clamp down On the risk in the traditional banking Sector uh what you know well because You've covered these issues for a long Time is that people then go to less Regulated spaces because that's where They think that they can hide out and What we're saying is that as we go after Terrorist groups and we cut off their Access to the traditional financial Sector they're going to use other new Tools like cryptocurrency to try and Move their money illicitly and the best Example remains what's happening when it Comes to ransomware attacks where almost Exclusively those attacks today are Being done using cryptocurrency we don't
Want that to happen when it comes to Terrorism we don't want that to happen When it comes to illegal drug trade and That's why we went to Congress to ask For these new tools and that's why They're going to be doing something very Soon you could tell the stage is being Set Dr Martin heis Bo from uphold Reminds all of us okx D list tether in The EU as Micah looms the mic Regulations for stable coins will other Exchanges follow this is a great Question you know um I have to say you Know um there have been people out here To suggest that tether's too big to take Down that may be true but you know that Doesn't mean that there aren't other way This is not just as simple as on off Like it either exist or it doesn't they Could be forced under credential Regulation right they could be Unwound Completely and shut down and then all The liquidity from tether is forced look If all the other exchanges begin to say Hey I don't want any trouble from you Know any uh Regulators around the world I'm going to D list just like okx did we Saw this happen to RP you know right so Don't say it can't happen right but There are a huge amount of treasury Bills being used inside of USD tether And you could certainly make the Argument over the years that the Federal Reserve is the one been been using
Tether as a as a wash for it all um you Could make that argument for sure no Doubt about it however what I would say Is is that you know it'd be just as easy To push these t- bills into other Projects like usdc and the new uh uh USD Stable coin that'll be coming to The xrp Ledger as well right or maybe they just Force uh USD tether to exist on Something like The xrp Ledger in order To see all the activity that's taking Place or maybe they're forced to provide A node in some way or some kind of Oversight some kind of reg Tech Oversight on the network of tether Itself they are partnered with the Secret Service and the FBI at this point So there are many different outcomes That could happen here but one thing I'm Sure of is tether doesn't look like it's Going to get to exist in the current State that it has been since it's Inception we'll See meanwhile we do know Ripple is going To be launching a new stable coin Peg One to1 to the US dollar and issued on Both The xrp Ledger and ethereum Blockchain so so excited about that Leveraging xrp ledger native Functionalities and erc20 token Standards come on in now this is being Celebrated by the digital pound Foundation where Ripple is also a member Of that uh this is a quick reminder of
Just how much Ripple are doing out here To get business and major Banks over 300 Major Banks ladies and gentlemen listen To this Quick Clip nothing is more Important to us um than the Partnerships That we've built with different Countries we're we're honored to be Working globally with uh many central Banks I think we've we've publicly Released uh six uh governments that We're working with most recently we Announced a partnership with the National Bank of Georgia we're honored To be working working with them uh we Have several others that we're working With uh privately um all of those Projects are uh unique and different for Us um they're a fabulous opportunity to Go in all of those projects of Partnership with the National Bank of Georgia we're honored to be working Working with them uh we have uh several Others that were working with uh Privately um all of those projects are Uh Unique in a real world environment for That amount of time um and we think That's a distinguishing uh feature to Highlight I was interested earlier Listening to um Evelyn whitlocks of the ECB talk about different ways that uh The digital Euro will be accessible in The Euro Zone um I think she mentioned Three different uh ways one was uh
Through an CCB issued wallet one would Be through a bank issued wallet and then Uh the third was sort of on a card Concept and when I heard that I Internalized the complexity of that Ecosystem and what will be required and That's what we think about at Ripple we Think about cbdc is a full ecosystem That encompasses different instruments Different actors and ultimately Different use cases so when we think About different instruments yes we're Talking about Central Bank digital Currency we're also talking about Private money we're talking about stable Coin tokenized deposit we might be Talking about Native cryptocurrencies All of these things we anticipate Coexisting in some fashion in a mature Marketplace subject to regulatory Frameworks uh that allow for them to Interoperate along different corridors But we're building for that we're build Yes we're talking about Central Bank Digital currency we're also talking About private money we're talking about Stable coin tokenized deposit we might Be talking about Native Cryptocurrencies all of these things we Anticipate coexisting in some fashion in A mature Market Marketplace subject to Regulatory Frameworks uh that allow for them to Interoperate along different corridors
But we're building for that we're Building for that Future no question about it that's a Great clip and obviously partner with Over 300 major Banks shout out to Cypress demonic cor who's crushing out Here in this space and a reminder yes The digital Euro Association as well as The digital pound Foundation that Highlighted the work that we saw to the Tab before this one and obviously the Digital dollar project as well and don't Forget fed now so many connections Ladies and gentlemen and matter of fact Here's Eric Van milenberg the senior VP Of strategic initiatives the next fa Phase of crossb payments what listen to What he's got to say here over 27 Million transactions over 55 billion Dollar of volume moved whoa take a Listen again I can speak for for for Ripple um you know the fact that we have Hundreds of to customers uh over the Life cycle of Ripple we've done 27 Million transactions over 55 billion of Volume moved so we have this is well Beyond for the earlier comments sort of A a test bed or a proof of concept we're Out there moving real money we have for Years um so I'll stop there but I'm sure The we then sort of um went to this next Step which was addressing liquidity by By leveraging a digital asset in our Case we used one called RP as a bridge
Currency between uh really a Fiat Transaction so from the end users Perspective they didn't really Understand or need to understand that That the crypto was involved all they Saw was faster it was cheaper it was More reliable it was available 247 so All big improvements on what was Happening before and so we're continuing To move down that that Continuum if you Will um and we're taking more and more Of the complexity on our backs getting Even into the flow of funds as opposed To just providing a technology so we're License now um in many states in the US We have a bit license in New York um We've applied for licenses throughout The world we have our ma major payments Institution license um recently granted By the Mas in Singapore so over time we Really want to be that that go-to place Where you can can I can move money Quickly whenever you want however you Want um and then start to layer on these Other building blocks if you will so Custody I heard was mentioned in the Prior panel super important we made an Acquisition uh there last year a Swiss Company actually named Medico is now Part of the Ripple family and you can Imagine tokenization is on the list etc Etc so anyway I'll stop there I'm sure We'll get and there you have it right There look uh you know again Petro
Dollars in uncharted waters bis bricks Ripple and xrp all connected and what do We see a network here that is showing Numbers that it is proved out over time In real use case not just a Pilot over $ 55 billion of volume moved Over 27 million transactions without Error what a remarkable remarkable Record that is and I tell you what it Speaks volumes to where we're going and Speaking of where we're going we're Going into the freedom zone right now Not Financial advice of me or anyone Else go to dig perspectives. comom and Click the freedom zone for almost next To nothing help support the channel Every month uh you know what we're g to Share something today in here and we're Going to give you a code if you haven't Gotten your ticket to have private Dinner with Brad Garling house yet You're about to get a code for it so you Can get it before it sells out cuz I'm
