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Ripple is set to launch its RLUSD stablecoin on December 17, following approval from the New York Department of Financial Services. The announcement has already spurred an 8% surge in XRP's price, with trading volume increasing by nearly 72%. The stablecoin, fully backed by US dollar deposits and other cash equivalents, aims to enhance cross-border payment efficiency and will be available on platforms like Uphold and MoonPay, with plans for integration into Ripple's payment solutions next year.
Ripple's new stablecoin, Ripple USD (RLUSD), will debut for global trading on December 17, following approval from the New York Department of Financial Services. Backed 1:1 by US dollar deposits and short-term government securities, RLUSD aims to enhance cross-border payments and integrate with decentralized finance protocols.Key appointments to its advisory board include former Reserve Bank of India governor Raghuram Rajan and former Federal Reserve Bank of Boston COO Kenneth Montgomery, who will guide the stablecoin's regulatory and operational strategies.
UBS's Gautam Chhaochharia asserts that the Indian real estate market is far from its peak, driven by strong fundamentals like affordability and favorable inventory-to-sales ratios. While premium housing is gaining momentum, the affordable segment faces supply constraints, yet mid-segment housing shows robust demand. The sector is viewed as a structural growth opportunity, supported by increasing wealth and a shift towards larger homes.
The Indian real estate sector is poised for significant growth, according to UBS, which highlights strong fundamentals such as affordability and favorable inventory-to-sales ratios. Despite rising property prices, the market remains under-penetrated, with robust demand in mid-segment housing and a lag in affordable housing due to supply constraints. The analysis suggests a structural growth trajectory rather than a temporary recovery, driven by increasing wealth and interest in larger homes.
The BRICS alliance is set to expand in 2025, with growing interest from African nations eager to join. This expansion could enhance bilateral trade and local currency settlements, appealing to developing countries seeking alternatives to the US dollar. Additionally, discussions around cryptocurrency adoption are intensifying, with proposals for an electronic payment infrastructure that may position Bitcoin as a viable alternative to the dollar, potentially reshaping global economic dynamics.
BitOasis has secured a full Virtual Asset Service Provider (VASP) license from Dubai’s VARA, enabling it to trade over 60 digital assets and support UAE dirham and Saudi riyal pairs. This milestone follows its acquisition by Indian exchange CoinDCX and aims to enhance regulatory compliance and service offerings. Despite previous regulatory challenges, BitOasis has established itself as a significant player in Dubai's cryptocurrency market since its launch in 2016, processing over $6.6 billion in trading volume.
Solana has emerged as the leading ecosystem for new developers in 2024, particularly in Asia, where it accounts for nearly 30% of new developers in India. The network also dominates in NFTs and DEX transactions, with 57% of NFT minters and 81% of DEX transactions occurring on Solana. Analysts remain bullish on SOL, predicting potential price gains, with targets suggesting a move to $230 by the end of the week and around $260 by year-end.
Switzerland has suspended India's Most Favoured Nation (MFN) status effective January 1, 2025, citing a 2023 Supreme Court ruling regarding the Double Taxation Avoidance Agreement (DTAA) with Nestle. The Court determined that benefits from other countries' DTAAs cannot be claimed by Switzerland unless its own agreement is amended and notified under Indian law. This decision underscores the necessity of reciprocity in international tax treaties.
Pi Network has issued critical warnings urging users to rely solely on official channels and to use the authentic Pi Wallet within the Pi Browser to avoid scams. With 14 million users verified and a target of 15 million by December 31, the project faces skepticism over its delayed mainnet launch and ongoing controversies. The team plans to unveil the mainnet roadmap in December, aiming to clarify the timeline for buying and selling Pi tokens.
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