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Welcome back to the show everybody with The exciting news of Ripple acquiring Standard custody or standard trust in Company we have to ask the questions What happens to poly sign then and what Are the other implications of the Acquisition itself we got that and so Much more somebody roll that beautiful Intro digital perspectives with Brad k Come on In welcome back to the show you can Follow us on Twitter and YouTube for Exclusive content right now it is $1 1.94 trillion doll market cap for Cryptocurrency the market is off by 6% 49,100 Plus for Bitcoin 2,600 Plus for Ethereum 96.5 billion plus market cap For tether xrp is 52 cents off by 1.8 on The 24hour and up by by 4.2 on the 7 day You saw the price was 52 cents we'll Keep an eye on it let's get into this Hodor if you've been in this space long Enough to remember Hodor used to write Some really really incredible blogs back In the day and then he just went Away or she just went they went away Hodor went away well today 3 hours Ago Hodor says well I just deleted all My controversial weird in a strange Finding myself journey in the mountain Tweets except for one that I'll explain In time how's everybody doing we're Doing real good and you know what Welcome back Hodor I hope that we get to
See some of your incredible blog writing That we saw back in the day when you Were here every day so it is nice to Have you back very excited to see how That develops and then we here have David Schwarz now we covered this Earlier today about Paul gwall calling Out the SEC And their lack of action and certainly Their lack of Integrity here David Schwarz highlights here people who make Honest mistakes immediately try to set Things right when they realize their Mistake while people who lie and Exaggerate for tactical Advantage let Their mistakes do as much damage as Possible I feel here he is really Summarizing exactly the approach of the SEC and it continues case after case After case we we're we're going through All of the pain the growing pains and It's necessary it really is necessary And I just I just want to say that you Know you know this is the things that We're seeing with Deb box case the Things that we're seeing with Tera Luna The things we were seeing with the Ripple case and grayscale and coinbase And and all the different cases they're Long they're arduous they're a lot to Withstand right but but the reality is This is the path that the US has forced Us to go so this is the path we're going Bring extra water with
You then we see This as you know we covered in our video Earlier today Ripple announced that they Were excited that Ripple has signed a Deal to acquire standard custody Strengthening our product offerings and Adding to our growing portfolio of Regulatory licenses around the world Learn more about our latest Acquisitions And obviously we hear from Monica long On this one here and she goes on to say As we integrate custody more deeply into Ripple's products we see clear synergies With standard custody to complement our Payments and custody offerings Allin Service of being One-Stop shop to move Convert and store value with blockchain And crypto what a remarkable remarkable Moment this is for ripple just recently Acquiring Medico now acquiring standard Custody if if this doesn't scream Anything else it's screaming to me this Ripple knows that they need a huge Custody aspect brought into their Verticals and their offerings to build Out their verticals for their clients Because they know tokenization is about To come on board in a very very big way That's to me that's putting your money Where your mouth is that's what I see Ripple doing because it all starts with Custody as you have real world assets Being tokenized you're going to have to Have trusted custodians and the more you
Can build this to be a One-Stop shop and All-in service that's where your Customer is going to say I prefer that Solution because I don't have to have Four different things I'm doing I do one I work with ripple and they handle it All with inside of it like a One-Stop Shop this to me is screaming that they Know what's coming and I'm super excited Exced about it now here in this and I've Got to be very careful because there's Some copywritten music in this and I Have to key this up at the perfect time Here this is Jack McDonald the CEO of Standard custody and trust or standard Custody and Trust Company and uh Overseeing poly sign as well right and He's going to break down some of the Points as a reminder for all of us to Level set about the real special things That are done with standard uh custody And Trust at Poly so take a listen to This clip here for a lot of different Reasons and we can differentiate between Retail and institutions institutions in Many cases have to use a qualified Custodian uh as part of the custody Rule And the SEC has recently proposed some Changes around that but using a Qualified custodian if if you fall into The rubric of the registered investment Adviser Act of 1940 then you have to use A qualified Custodian okay let me stop that there
Because there is uh there is concern and I don't want to get copyright strike There so now take a listen to this CLI Make sure that there are uh the Operational and client support teams That you would expect to see from an Institutional cide provider you want to Ensure that the uh assets are insured Even though it may not be a requirement It's certainly a best practice and I Also think just like in life we're Judged by the company we keep and so I Would be looking at the other uh service Providers Partners vendors uh that given Custodians work with who where given Custodians for example get their Market Data research from folks like Dar all Who provide an excellent service and and We think are reflective of the quality That we and other qualified custodians Have okay now let me move up here to the Next little Spot at standard custody we've built our Business specifically to avoid any Conflict so we are exclusively focused On providing custody and Escrow Services We don't provide any trading functions Or staking or lending or borrowing or Market making Etc and so I think as you Watch this um industry unfold you will See more pure playay custodians like Standard custody um be selected uh by The issuers and then we will work in Concert with uh Market surveillance
Partners to provide that very important Surveillance sharing agreement that the That the Regulators seem to require and I would also think that that would also Open the door for them to work with you Know other uh uh Partners in services That he just mentioned because standard Custody does custody solely that's what They do so there can be no confusion About whether you're offering products Inside it's custody so I think that was A very important uh delineation there One more quick clip here take a listen To this but one way or another Tokenization is coming that's right and It's going to have a profound impact on On global markets as we know them and I Think that custody will continue to be a Cornerstone of that there will be other Services that complement it and it will Happen slowly over time but it's Undeniable in in in our view that that Custody around digital assets will play A key role going forward no question About it and shout out to Jack and shout Out to xrp drops for that clip you know Um yes Keystone Corner Keystone you know A foundational block however You' prefer To say it that's exactly what custody is All about and when I see Ripple going Out and acquiring Medico and now turning Around and acquiring standard custody Trust Company it says to me they are Preparing to be able to offer a solution
To on board massive massive clients that To me is what I'm seeing there now Looking at this here uh this is a Reminder here uh that inside of standard Custody and Trust what's just been Purchased here as one of the things to Highlight is Tim Keeny board member that Came from bny melon and when he Tim Keeny was at bny melon he was Responsible for o overseeing 25 % of the Of of uh the global assets for the World that's what Ripple just acquired Tim Keeny is a part of that right so th This gets super super interesting and Very exciting now just go over a couple More things because we still have some Unresolved questions to all of this that We're going to need to get from uh Jack McDonald as well and there will be a Fireside chat I believe on Friday that Link to will be hosting and I will be Participating in that to try learn as Much information for all of us as we can Uh as we move forward rraa common says Here standard custody was a division of Poly sign until today when Ripple bought It curious how standard custody compares To Medico standard custody ures Holdings Is a trust more useful for some regs Question mark can it tell us anything in Particular about ripples plans see that That I think there's a great question That's where my mind is too and again What if in the general sense what I'm
Getting from this is that Ripple is Preparing to to be able to offer massive Massive custody Solutions around the World for many many institutions that's What I believe and I do mean Institutions and we'll get to that in a Second too speculative question from Rraa kongman here it's interesting that Ripple property standard custody and Medico both having staking functions Owned by Ripple would they be a conduit For automated market makers liquidity Providers xrp at L Etc right and it's Another great question that takes us to The question that we're currently at Really because uh you know again I have To wonder in the United States maybe There has to be you know uh three Degrees of separation between those Services right and uh uh Ripple's Custody you know buying standard custody Now so maybe poly sign continues to Offer that right maybe the Tech of polyc Sign and that gets us to the question we Need to be at because I certainly Believe that these custody Solutions Will be offering access to things like Automated market makers and liquidity Providers going forward into the future It just makes sense now we're Speculating a bit there but we it makes Perfect sense that that would be the key Case and I can tell you as a poly sign Customer uh who who has an account at
Poly sign that was the long-term Intention is to eventually be able to Offer services inside of that platform That you could take advantage of while Getting that highlevel custody from Standard cust or standard custody trust Right so this is getting you know this Is getting interesting now this is Getting very interesting so uh to state The obvious in January news bubbled upon Poly sign was being foreclosed and Investors trying to get Capital back Quick nothing much heard since Officially but likely Ripple buying Standard custody trust standard custody Trust company uh provides the resources To settle everything finally and that Would be great to be able to finally Wrap this thing up and hopefully again From the fireside chat we will learn More from link to and Jack McDonald from Poly sign and standard custody and trust But the other part of this is too is That we need to find out what happens to The tech is the tech involved in the Atomic settlement and all of this is That connected to poly sign and if it is Connected to the ownership a poly sign Because we know that uh standard custody Has been sectioned off for Ripple's Acquisition then what happens to that Tech if it's with poly sign uh I had a Great conversation with Todd today Todd H and shout out to you Todd and our
Thinking is absolutely aligned we're Trying to figure out now if that IP Stays with poly sign would that mean That they could license that uh uh IP And that Tech to Ripple and to standard Custody and Trust Company uh for the Usage of that service I don't know I Don't know the answer but I know it's The right questions in the right areas We need to be asking questions in and Then I want to play this because this is An older clip of Chris lson explaining To everybody exactly what's going on Here and they're in the plumbing of the Financial system and they don't need uh Uh they don't need consumers because They don't Market to Consumers take a Listen you know if you want to go Directed consumer you might turn around One day and realize your entire company Is is marketing and customer support and It's like 5% Tech and that's a recipe For failure too right now we're about 2third tech because we're we're in the In the plumbing of the financial system Um we don't have to Market to Consumers Uh and that way we can attract a bigger Tech Team and you know the best tech People want to work with great Tech Teams and that means big Tech teams so I Think we can have more imp so we and and Especially if you're trying to serve Chinese Banks Japanese Banks German Banks Australian banks you cannot have
Any politics in this um you know you Can't be thumbing your nose at China's Capital controls you you should be Trying to help China uh Market the the R&B in Latin America um and whatever They want so you have I think you have To take a very agnostic View and just be Be Builders not disruptors I think that Would be the the main thing I would say And I I hope we we're seen that way so When I look at the news of this recent Acquisition here I'm reminded you know As I've always known and we've talked About plenty here that Ripple is not a Consumer facing company right they're an Enterprise facing company right for Enterprise Solutions and that to me is Exciting about this acquisition because Just like Medico I see it as an Institutional acquisition to serve the Institutional Market and as Chris Larson said we're in The plumbing of the financial system is He this was years ago right we are in The plumbing of the financial System and now they're building custody Solutions for it Too I want to learn more as we all do But I'm super excited about what we've Learned today that's going to do it for Me look I hope you'll join us at dig Perspectives. comom where you can come And to the freedom zone or join the Dpmg whatever suits your fancy you go to
Dig perspectives. comom you can learn More about it it's a great way to Support the channel through the freedom Zone it's not a lot of money it's very Cheap and affordable and you get some Special perks with it too so I hope that You will choose to do that or join the Dpmg if you're more serious investor and You want to be around like-minded people This is the place for you no question About it I will catch all of you on the Next one not Financial advice for me or Anyone else
