RIPPLE, CIRCLE, & CRYPTO COMPANIES GET BANK CHARTERS! SOLANA ENABLING XRP DEFI!

Episode Transcript
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Speaker 1 (00:00):
You won't believe this. Solana is bringing XRP on chain
as a wrapped asset for DeFi and Ripple, Pacsos, Bitco
and many other companies get approved for bank trust charters.
This is huge news for the crypto industry, but the
banking sector is not happy.

Speaker 2 (00:17):
I'll give you the details. Let's get into it.

Speaker 1 (00:24):
Hey, everybody, welcome into the Thinking Crypto podcast. You're home
for cryptocurrency news and interviews. I'm your host, Tony Edward.
On your way in. Please let that subscribe button as
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Speaker 2 (00:42):
Folks.

Speaker 1 (00:43):
Huge day today for the crypto industry. So the OCC
the Office of the Controller of the Currency, which this
week gave banks the ability to participate in crypto transactions.
Will they granted conditional approval for trust bank charters for Ripple, Bitgo, Fidelity,
Digital Asset, PAXOS, and Circle. Amazing. This is one of

(01:03):
the big landmark moments for the crypto market where these
companies are getting these bank licenses. It's amazing and here's
some more details from Eleanor Tarrott about this so, she said.
The OCC conditional approval span both newly created national trust
banks and state chartered trust companies converting into the federal system.
The newly created approvals are Ripple National Trust Bank and

(01:27):
First National Digital Currency Bank, which is Circle. The other
three are state to national conversions Bitgo Bank and Trust,
Fidelity Digital Assets and Paxos Trust Company. Comtroller Jonathan Goule
said each application received a standard, rigorous review and that
each company must meet additional conditions before fully becoming operational.

(01:49):
He added that new entrants helped modernize and diversify the
banking system and broaden access to innovative financial products. Incredible,
So big week for the OCC in the approvals and
the guidance they are providing.

Speaker 2 (02:02):
This is huge.

Speaker 1 (02:03):
Here's what Ripple CEO Brad garling Ause have to say
about the news. He says, huge news. Ripple just received
conditional approval from the OCC to charter Ripple National Trust Bank.
This is a massive step forward, first for our LUSD
setting the highest standard for stable coin compliance with both
federal which is the OCC, and state which is the
New York DFS. Oversight to the banking lobbyists. Your anti

(02:27):
competitive tactics are transparent. You've complained that crypto isn't playing
by the same rules. But here's the crypto industry directly
under the OCCS supervision and standards, prioritizing compliance, trust, and
innovation to the benefit of consumers. What are you so
afraid of?

Speaker 2 (02:44):
So we know the.

Speaker 1 (02:45):
Banks have been really fighting back against crypto. They have
been adopting crypto, but they're trying to control it, right,
So we saw they're going after DeFi. We saw Citadel's
letter to the SEC. They've been trying to stop stable
coin yield, where you can earn higher interests in yield
on exchanges, you know, by participating in stable coin activities

(03:05):
versus what you're getting in there checking and savings accounts.
We've talked about that at nauseum. So Brad is calling
out the banking folks because they're hypocrites. Right on one hand,
they're saying cryptos not regulated, they get regulated, and now
they're saying.

Speaker 2 (03:18):
No, we must stop what they're doing.

Speaker 1 (03:20):
Right, it's pathetic, but disruptions at their doorstep. And here's
an example they put out today. The American Bankers Association.
They put out a whole write up the ABA statement
on the OCC's announcement regarding national trust charters. So they
went through, oh, this is going to be so risky,
and this and that. You know, they're trying to stop
these crypto companies from taking their lunch. But you know,

(03:43):
this is how it is. The incumbents are going to fight,
but it's pretty clear that they're being hypocrites and they're
talking out of both sides of their mouth. Now, some
other big news around Ripple.

Speaker 2 (03:54):
A men up.

Speaker 1 (03:55):
Bank Global is the first European bank to go live
with Ripple payments. This partnership provides a crucial compliant bridge
between traditional FIAT and blockchain rails, solving a major friction
point for crypto native clients who need efficient cross border transactions.
This is the next step in our expanding relationship with
Amina Bank, building on their earlier adoption of r l

(04:17):
usd our commitment to delivering secure, compliant, a resilient digital asset.
Technology continues to advance the wider adoption of crypto in
Europe and beyond. So Ripple doing some big things and
this bank trust charter is huge for them, and I
love that the OCC approved all of these folks together.
So for example, they didn't improve ripple first or circle first.

(04:38):
They all get approval on the same day. So it
makes for a level playing field. Let the competition heat
up and we'll see who are the winners. Right, So
this is huge, huge news. Look at this news, this
is massive. Interactive Brokers now accepts stable coins in a
bid to remain competitive. You know, yesterday I talked to
you guys about the SEC given the DTS and no

(05:00):
action letter to start tokenizing and custody assets and much more.

Speaker 2 (05:06):
And you're just seeing big players man.

Speaker 1 (05:08):
And obviously JP Morgan they announced this speak they've tokenized
on Sowana. We're just seeing the biggest of the biggest
names getting involved in crypto here. So Interactive Brokers will
now allow retail investors to fund individual brokerage accounts with
stable coins, a step aimed at keeping pace with the
increasingly competitive retail trading market. Bloomberg reported on Friday. The Greenwich,

(05:31):
Connecticut based brokerage firm competes with rivals including robin Hood Markets,
Charles Schwab Corp.

Speaker 2 (05:37):
Charles Schwab.

Speaker 1 (05:38):
They said they're going to latch crypto trading in twenty
twenty six, by the way, in the first half and
earlier this year, expanded its cryptocurrency capabilities or trading capabilities,
alongside its offerings of stocks, options and futures. Everybody's got
to capitulate. Everybody's got a bend in thee. It is inevitable.
This acid class is here to stay. And it's amazing
to see what's happening. And in fact, you know, I

(06:00):
mentioned the DTCC news. They put out a video today
talking about this and if you know who the DTCC is, folks,
this is massive.

Speaker 2 (06:09):
I mean it is huge.

Speaker 1 (06:11):
So crypto is winning. We are in the then you
win phase, right, even though these banks are trying to lobby,
they're trying to stop certain things, but they've lost. And
we know they're trying to influence the Clarity Act, the
crypto market structure build. They're even trying to influence the
Genius Act as far as the implementation, right. They don't
like the stable corn yield. They want to keep all
the yield for themselves, but they don't want to give

(06:33):
you anything. That's what's happening here. But like I said,
Crypto's winning, folks. This episode is brought to you by Propy,
which is leading to charge with putting real estate on chain.
I'm a Propy token holder. I have been since twenty eighteen.
When I discovered Propy, I recognized what they were doing
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(06:53):
and folks, you can buy and sell real estate on
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for bitcoin, you want to buy the house.

Speaker 2 (07:00):
A big one, you can do that on Propy.

Speaker 1 (07:02):
And of course the platform is powered by blockchain and
also AI, so they're doing some amazing things. They have
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use coinbase for the crypto escro and billionaire investor Tim
Draper is an investor in his platform and he's a
big believer in it. And once again, folks, I am too.

(07:23):
And they've put deeds on chain, They've created NFTs for properties,
They're doing a lot of great stuff. So I'm very
bullish on Propy guys. And we all know real estate
is going on chain and Propy is leading that charge.
So check him out, go learn about what they're doing.
We know this is the future, right, all assets will
be on the blockchain, So you got to learn about

(07:45):
what propy is doing. So go to propy dot com.
Link will be in the description. Now, folks, we got
huge Solona news. You know, yesterday we talked about JP
Morgan tokenizing on Solana, right issuing a commercial paper which
in itself is huge on many levels, but soon getting
incredible adoption. Earlier this year, I should say a couple
months back, we heard about Western Union building their stable

(08:06):
coin on Solana. Well, the Salona fire Dancer upgrade is
officially live on solana maynet and has been running on
a handful of validers for one hundred days, successfully producing
fifty thousand blocks. This is a huge update for Solana,
so a massive massive win here and look at this
even more adoption news. Figure has filed a second IPO

(08:29):
request with the SEC, aiming to become the first company
to issue its stock directly on Solana. Folks, many of
you know I hold Solana. I was buying it in
late December twenty twenty two, early January twenty twenty three
the lows because I saw it as something to diversify
in and you know, that's going to pay off. I
believe it's already paid off, you know, as far as

(08:49):
the price appreciation. But the adoption Salona is getting here
is incredible, and I think this chain is going to
perform really well. And I'm just presenting the facts, folks.
Look at the adoption that's happening, JP Morgan, a lot
of people tokenizing and building on Solana now, and look
at this news XRPS coming to Solana. This was a

(09:09):
surprising news of the day. So hex Trust and Layer
zero will bridge an issue. W XRP so wrapped XRP
a Solana DeFi ready token redeemable at any time for
one to one XRP on the XRP ledger.

Speaker 2 (09:25):
Huge news.

Speaker 1 (09:25):
I've had the co founder and CEO of x trust
on the podcast many times over the years. I'm going
to try to get him back on. It's been a
couple of years since he's been on. But this is incredible.
But again a lot of people were surprised by this,
so they said, here to Solana, folks. XRP has stood
the test of time and cemented itself as one of
crypto's preeminent and most liquid cryptocurrencies. Xrp's long standing utility

(09:48):
meets solana high performance execution with significant day one liquidity. Traders,
holders and institutions can use XRP within leading Solana decentralized exchanges,
lend markets, and liquidity protocols while maintaining exposure to the
underlying asset and twenty four to seven XRPL redemption rights.

(10:09):
So huge, huge news here, and this is akin to
what a flair is doing with FXRP and also Coinbase,
what they're doing on Base with cb XRP. Right, so
it's wrapped version of the assets, and this is really
good for the DeFi ecosystem. So I think it's really
good for XRP. It's getting exposure and placement on different
chains and different ecosystems, so that only benefits the assets.

(10:33):
So I think this is very bullish, and folks be
sure to check my interview with Solana's head of institutional growth.
His name is Nick Dukov, and I interviewed him just
recently and I published that interview this morning. Is if
you want to learn about all the great things that
is happening in the Solana ecosystem, be sure to check
out at the interview. Once again, it was published earlier today.

(10:54):
Now look at this big adoption news for a chain link.
Many of you know I'm bullish on chain link I
hold in my portfolio. So coinbase tweeted out, We've selected
chainling CCIP as the exclusive birge provider to bring coinbased
wrapped assets to new blockchains. Together, we'll expand to new
ecosystem using battle hardened infrastructure. Remember that chain link is

(11:14):
the connector. It allows blockchains to connect and move information.
A lot of Tradify companies are using chain links CCIP
and much more so That's why I'm bullish on this project. Obviously,
do your own research, but I've been beating the drum
here on chain link for a long time, so hope
you guys recognize what's happening. Now look at this news.
This is incredible. It's a sign of the times and

(11:35):
mass adoption that's coming. YouTube now allows us content creators
to get paid in PayPal's stable coin, which is PYUSD.
Many of you may have caught my interview with Larry
Wade of PayPal. I interview to him a chain link
smart con and we talked a bit about pyus D
and much more, and I hope to have some more
folks from PayPal on the podcast soon. But YouTube, I mean,

(11:59):
right now, this content is available on YouTube because you're
probably watching it right now. But the fact that YouTube
is enabling this, that you can get paid out in
the stable coin, folks, think about that, right, and this
is very bullish. You can imagine that Amazon, Walmart, Google,
and obviously YouTube is owned by Google. But you know,
stable coins are going to be integrated in different ways.

(12:21):
So YouTube enabled US content creators to receive their earnings
in PayPal stable coin PYUSD. The move highlights how major
tech firms, including Apple, Airbnb, and x are increasingly exploring
stable coins as payout rails. YouTube's use of PYUSD marks
one of the most prominent examples of PayPal stable coin

(12:43):
being used for creator monetization, expanding its role beyond back
end payments into consumer facing income streams.

Speaker 2 (12:51):
Huge news here, folks.

Speaker 1 (12:52):
So I need to check this out, you know, as
far as my monetization payout, and I want to test
this out. So I'm going to try to get the
pyus the stable coin here, so I'll report back to
you guys, you know, once I've completed it. Okay, final
news item Pakistan signs an MoU with Binance to explore
tokenizing up to two billion dollars in sovereign bonds, T

(13:14):
bills and commodity reserves. So today, cz founder of Binance
and also Justin's son, they were in Pakistan doing a
lot of things and signing the agreement and much more
so smart move here by Pakistan. But I think even
bigger win for Binance because they're spreading themselves across the

(13:34):
globe as the world's largest exchange and you know, helping
these countries to adopt crypto and blockchain tech. So, folks,
things are gearing up. I know some of you gonna say, Tony,
what about the price, bro Folks, be patient, be patient.
Remember quantitative easing as officially started today and the FED

(13:57):
is going to purchase over a forty billion bills over
the next thirty days. The liquidity will start hitting the markets.
Let the market do its thing, regardless of if it's
just a relief rally for bitcoin or we're going to
new all time highs. We know a rallies coming, right,
So we've been in extreme fear. We're starting to see
the reversal, but it just takes time. If you go

(14:18):
look at the chart to the Bitcoin chart. Go look
at what happened in the last correction and the one
before that. It's a chop, it's annoying, it's slow.

Speaker 2 (14:27):
But you got to be patient, right and then.

Speaker 1 (14:29):
As Bitcoin does this thing, I do believe that the
all coins will catch up. So patience is the key here, folks.

Speaker 2 (14:35):
All right, folks.

Speaker 1 (14:36):
A great way you can support the podcast is by
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It's available in paperback, in digital, and my course at
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you everything you need to know about crypto. Check it
out go to Mycrypto course dot com. Folks, thank you

(14:56):
for tuning in. I appreciate you all, and I'll talk
to you all later

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RIPPLE, CIRCLE, & CRYPTO COMPANIES GET BANK CHARTERS! SOLANA ENABLING XRP DEFI!

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