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News Date: May 13, 2020

Once Anti-Bitcoin, JPMorgan Provides Banking Services to Crypto Exchanges Coinbase and Gemini.
Source:cointelegraph.com

BRICS Alternatives to SWIFT

BRICS is the acronym denoting the emerging national economies of Brazil, Russia, India, China, and South Africa.
It is a growing eastern world alliance led by China.
In another effort to reduce their dependence on the US dollar, BRICS members have been building their own global payment infrastructures for international transactions that are independent of the US dollar and can serve as alternatives to SWIFT, the leading messaging network for financial transactions worldwide.
This allows BRICS members, especially those who are often subjects of US sanctions, to create their own rules for international banking and settlement. Moreover, by extending alternative financial infrastructure to other countries and regions, BRICS can create greater buy-in for their own system and increase their financial and political influence through this alternative system.
Some BRICS members have independently developed their own cross-border payment mechanisms in recent years.
Both Russia and China have launched their national alternatives to the SWIFT global banking network and introduced their systems to broader global markets. Source: www.cambridge.org

The STORM Act signed into law

On Friday, January 1, 2021, the President signed into law: the "STORM Act," which authorizes the Federal Emergency Management Agency to provide capitalization grants to States to establish revolving funds to provide hazard mitigation assistance to reduce risks from disasters and natural hazards.
S. 3418, the "Safeguarding Tomorrow through Ongoing Risk Mitigation Act".
Sources: www.congress.gov, www.whitehouse.gov

RippleNet Listed as Direct Alternative to SWIFT

RippleNet Listed as Direct Alternative to SWIFT by Arab Monetary Fund Group.
Arab Regional Fintech Group report, "Central Bank Digital Currencies: A Practical Guide for Arab Central Banks."
Mentions Ripple as an alternative system in two places.
The paper also specifically named Ripple XRP as a unique cryptocurrency insofar as it was one of the first "designed primarily for payments," in contrast to most crypto assets which were labeled as "speculative" stores of value.
Including a direct link to Ripple's "Future of CBDC" report, the advisory paper clearly sees Ripple as having a serious role to play in the future blockchain-based, global financial infrastructure.
Source: www.amf.org.ae

Xi Jinping to Visit Saudi Arabia before the end of the year

China's Xi Jinping to Visit Saudi Arabia Amid Global Reshuffling.
Chinese leader Xi Jinping is planning to visit Saudi Arabia before the end of the year, according to people familiar with preparations for the trip, as Beijing and Riyadh seek to deepen ties and advance a vision of a multipolar world where the U.S. no longer dominates the global order.
Sources: wsj

President Donald Trump "All Currencies will be on an Even Level Playing Field"

All Currencies will be on an Even Level Playing Field much sooner than most people understand or think.
Here is a 3 minute snip from the ~30 minute press conference with PM Abe from Japan.
Go to 1:50 if you want the start of the exact statement:
Source:youtube.com

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