Ripple, a known blockchain and crypto payment infrastructure provider, gathered a green signal from Dubai’s financial authority, enabling the firm to establish its presence in the UAE.
In an X post dated October 1, 2024, Ripple quoted, “ We’re delighted to have secured in-principle approval of a financial services license from Dubai Financial Services Authority, unlocking our end-to-end managed payments services in the UAE.”
We’re delighted to have secured in-principle approval of a financial services license from Dubai Financial Services Authority, unlocking our end-to-end managed payments services in the UAE. https://t.co/4zq8YPlgaG
— Ripple (@Ripple) October 1, 2024
The press release quotes Brad Garlinghouse, Ripple’s Chief Executive Officer, statement, “Blockchain and crypto technologies are here to stay,” said. “With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.”
Other Crypto Licensing News
On October 1, 2024, EA Capital announced that it had secured a Category I license as a Crypto Asset Service Provider (CASP) in South Africa.
Following the approval of the founder and CEO of EA Capital, Ryan Aufrichtig said that ”EA Capital ( Pty ) Ltd provides a unique blend of an established traditional international banking team with a long-term market-leading track record and + an experienced & expert crypto/digital asset & blockchain technology team with complementary skills and experience.”
Today, Binance, the top centralized cryptocurrency exchange, revealed that it has gathered a full Digital Asset Trading Facility (DATF) license from Astana Financial Services Authority (AFSA).
Tokocrypto, an Indonesian crypto asset trader acquired by Binance in December 2022, has secured a Physical Crypto Asset Trader (PFAK) license from the Commodity Futures Trading Regulatory Agency (Bappebti).
Other Crypto Market News
Todayq reported on October 01, 2024, a whale allegedly lost over $32.4 million in a scam by Inferno Drainer. The whale’s wallet was emptied due to a dangerous transaction, resulting in losses of over a thousand in cryptocurrency tokens.
Hong Kong, the Securities and Futures Commission (SFC) of Hong Kong has approved ZA Bank to offer Type 1 regulated activity in the region. The information further notes, “The bank will actively prepare for relevant sandbox testing.”
On September 27, 2024, the U.S Securities and Exchange Commission (SEC) gave a green signal to the Bank of New York Mellon Corp for crypto custody above Exchange Traded Funds.
Crypto Market Price Updates
As of September 30, 2024, the daily total net inflow of the Bitcoin ETFs was $61.30 million, with a cumulative total net inflow of $18.86 billion. IBIT by BlackRock mirrored the highest inflow of $72.15 million, followed by FBTC with an inflow of $8.23 million.
SoSoValue data states that Ether spot ETF in the United States bled, mirroring an outflow of $822.29k; despite outflow in all ETFs, the ETHA by BlackRock saw an inflow of $10.99 million.
At the time of writing, the cryptocurrency market capitalization was at $2.26 trillion, surging 0.79% intraday; at the same time, the fear and greed index was at 48, determining neutrality.
Fantom rules the intraday gainer’s list as it surged 11.30%, reaching $0.761, and Bonk reached $0.00002574, adding 10.18% and growing 44.02% in a week.
Until its publication, Bitcoin was trading at $63,830, with an intraday trading volume of $32 billion, which surged by nearly 22%. With the highest trading price, it dominates around 57.17% of the border market.
