Lotte Data Communication launches NFT donation campaign for children’s rehab center

Ripple, the blockchain company behind the XRP token, announced in a May 19 press release that it has added two new customers in the United Arab Emirates (UAE)—Zand Bank and Mamo. Both institutions will use Ripple Payments, the company’s blockchain-based platform for cross-border transactions. Photo by Dmytro Demidko on UnsplashExpanding under Dubai license obtained in MarchThis partnership comes after Ripple’s obtainment of a license from the Dubai Financial Services Authority (DFSA) in March to offer regulated crypto payments and services in the Dubai International Finance Centre (DIFC). Ripple Payments facilitates end-to-end payment management for its customers. The platform enables funds to be transferred globally around the clock, with payments settled within minutes. Ripple’s latest move follows growing demand for blockchain-powered payment solutions in the Middle East. Ripple’s 2025 New Value Report shows 64% of Middle East and Africa (MEA) finance leaders see faster payments as the main reason to adopt blockchain for cross-border transactions. “Our new partnerships with Zand Bank and Mamo are testament to the momentum that the license has created for our business,” said Reece Merrick, Managing Director for the Middle East and Africa at Ripple. Zand Bank, the UAE’s first fully licensed all-digital bank, will leverage Ripple’s technology to enhance its payment solutions. “Our collaboration with Ripple highlights our commitment to empowering global payment solutions through blockchain technology. Moreover, we are excited to soon launch an AED-backed stablecoin,” said Chirag Sampat, Head of Treasury and Markets at Zand Bank. Meanwhile, Mamo, a company that helps businesses consolidate payment collection, corporate cards and expense management, sees the partnership as an opportunity to support the UAE’s growth. “The UAE is on an incredible growth path, with over a million businesses expected to call it home by 2030. At Mamo, we're proud to be at the forefront of this journey making global payments simpler and more accessible for everyone,” said Imad Gharazeddine, CEO and co-founder of Mamo. Ripple faces legal setback in U.S.While Ripple continues to expand its business globally, it is facing ongoing legal challenges in the U.S. On May 15, U.S. District Judge Analisa Torres rejected a joint request by Ripple and the U.S. Securities and Exchange Commission (SEC) to approve a proposed $50 million settlement. The settlement would have reduced Ripple's fine from $125 million to $50 million, effectively concluding a four-year legal dispute. The case began in December 2020, when the SEC accused Ripple of raising $1.3 billion through unregistered XRP sales. In July 2023, Judge Torres ruled that Ripple’s institutional XRP sales violated securities laws, while sales on exchanges to retail investors did not. Despite the SEC easing its crypto enforcement activities under the Trump administration, Judge Torres rejected the proposed settlement, calling it “procedurally improper.” Ripple’s bid to acquire USDC issuerIn a related development, Ripple made an offer to acquire Circle, the issuer of the USDC stablecoin. Circle, which is preparing for an initial public offering (IPO), is also exploring a potential sale and has reportedly engaged in informal discussions with both Coinbase and Ripple, seeking a valuation of $5 billion. However, Ripple’s offer was reportedly turned down. Meanwhile, XRP is trading at $2.39, up 2.57% over the past 24 hours, according to CoinMarketCap data at the time of publication.

GRVT, a hybrid cryptocurrency exchange platform that bases its operations in Singapore, has secured a trading license in Bermuda which the project claims, makes it the first regulated decentralized exchange (DEX).  In a press release published on the project’s behalf by PR Newswire on Dec. 6, the project, which aspires to be “Goldman Sachs on blockchain,” announced the acquisition of a Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA). Photo by GuerrillaBuzz on UnsplashAiming for further licensingThe license puts the firm on a path to operate as a fully regulated DEX. Securing this Class M license isn’t the end of the project’s regulatory compliant endeavors, however. Class M confers a “modified” exchange license under the Bermuda Digital Asset Business Act (DABA). Class M covers pre-operational activities while the service remains within a sandbox environment. The company hopes to have acquired Class F or “Full” licensing designation by mid-2025. At that point, GRVT will be in a position to take its service from a sandbox environment to full launch of its institutional-grade perps DEX in a regulatory compliant manner. On X GRVT suggested that this licensing is pivotal in the movement of decentralized finance (DeFi) towards mainstream adoption. “With this milestone, DeFi evolves - safer for users and institutions alike,” the project wrote. Hybrid approachAs a hybrid DEX, GRVT combines the decentralization of DeFi with the structure and compliance required for the participation of institutional investors. Commenting on this latest development, GRVT CEO Hong Yea stated:”We've always believed compliance should be the foundation for crypto and DeFi, not an afterthought. Without it, earning institutional trust—and bringing revolutionary technologies to the mainstream—becomes nearly impossible." Yea told Cointelegraph that in two weeks time, the project will officially launch its mainnet to all users. “Our trading volume will then be available through major external data providers,” he added. In preparation for that mainnet launch, the project announced in September that it had partnered with 16 market makers including Galaxy Trading, Amber Group, QCP and others, in order to ensure that the platform has sufficient liquidity in place to enable a smooth launch. Users have been testing the platform following its Open Beta Testnet launch in August. The GRVT CEO believes that the project can “unify cryptocurrency and mainstream finance, creating a system where assets move freely and all forms of value coexist in one integrated ecosystem.”   A regulated yet decentralized offeringReferring to the two main components baked into the GRVT offering, he said that “decentralization distributes control away from central authorities, promoting transparency, security, and user empowerment.” Meanwhile, “regulation establishes standards to protect users, ensure market integrity and promote fair practices.” In successfully pursuing licensing in Bermuda, GRVT joins a list of more than 30 firms in the digital assets sector who have obtained licensing in the British overseas territory. In October global cryptocurrency exchange platform Kraken launched a Bermuda-based derivatives trading business having obtained licensing from the BMA. USDM stablecoin issuer Mountain Protocol received a Class F license from the BMA in July. Other entities successfully licensed by the BMA include Coinbase, HashKey, Circle, Bittrex and Zero Hash.

KT and Iron Mountain Forge Alliance to Propel Blockchain-Powered E-Document EcosystemSouth Korean telecommunications giant KT has entered into a strategic partnership with global information management company Iron Mountain to leverage blockchain technology in expanding the certified electronic document ecosystem.Photo by ron dyar on UnsplashFrom paper to digitalUnder this collaboration, KT and Iron Mountain will utilize the Korean telecom firm’s blockchain-based electronic document platform to digitize Iron Mountain’s physical documents. The partnership extends beyond digitization, with plans to explore diverse business prospects across various markets. It’s worth noting that Iron Mountain has an extensive global presence, operating across 54 countries.KT has been operating the Paperless platform since 2020, providing services such as contract writing, registered document delivery, and document storage. This initiative has been particularly beneficial for small and medium-sized enterprises, as well as sole proprietorship businesses, eliminating the need to establish individual systems.Asia-Pacific market as a priorityBoth companies are united in their objective to capture the Asia-Pacific market, a region where conventional paper documentation remains deeply ingrained. Given the extensive usage of paper documents in this market, the anticipated demand for digital transformation is substantial.Song Jae-ho, Vice President of KT’s AI/DX Convergence Business Division, emphasized the promising prospects of combining KT’s technological expertise with Iron Mountain’s global business capabilities. He highlighted the potential for a significant positive impact that their collaboration could bring to the global document market. Song expects the partnership will help KT position as a leader in driving digital transformation within the document management sector.Joyce Housien, Vice President of Commercial at Iron Mountain, echoed these sentiments, underlining the broader scope of their collaboration. She noted that their joint efforts are not only focused on achieving digital transformation within South Korea but also on generating new value within the wider Asian digital industry landscape.