Crypto news: Atato has recently decided to offer high-level regulated custody to all players in the XRP Ledger (Ripple) and Cronos chain ecosystems, as well as other leading chains, including Bitcoin and Ethereum.
In addition, Atato does not charge clients any AUM, transaction or withdrawal fees, making it the preferred choice for a range of products. See below for full details.
XRP Ledger (Ripple) and Cronos in partnership with Atato: all crypto updates
As expected, Atato, an institutionally recognised crypto custody provider, recently announced its integration with Cronos Chain, one of the leading Cosmos SDK-based EVM-compatible chains used for DeFi and GameFi applications.
In addition, Atato has extended its integration to the XRP Ledger (Ripple), known as an open source software supporting an efficient and decentralised blockchain, backed by a large community of global developers, within its innovative BYOC network.
This collaboration aims to make a significant impact through its Bring-Your-Own-Chain (BYOC) offering, a state-of-the-art custody solution that enables one-click integration of any chain.
This revolutionary approach is designed to encourage the widespread adoption of a multi-chain future.
In addition, BYOC positions Atato as the only custodian capable of protecting and supporting tokens on all chains, both EVM and non-EVM, without the need for complex encryption.
In an increasingly multi-chain landscape, Atato Custody addresses a common industry challenge related to limited asset support, providing additional security, assurance and increased operational flexibility and efficiency.
Atato’s BYOC integration: protection and simplicity for digital assets on different chains
Guillaume Le Saint, co-founder of Atato, highlighted the growing need for users to protect their tokens on different chains and have easy control through a user-friendly interface.
This demand has grown significantly with the proliferation of different layer 1, layer 2 and sub-networks within blockchain ecosystems.
With Atato’s Bring Your Own Chain (BYOC) functionality, it is now possible for any project, investment fund or institution to add support for any blockchain and token with a single click, a capability that was previously out of reach.
The BYOC integration with Atato will support Web3 builders, startups, developers, small and medium-sized enterprises (SMEs) native to the XRP Ledger and Cronos ecosystems, and all those who share a commitment to building a secure, interoperable and compliant environment for new participants in the Web3 ecosystem.
These projects will also be able to connect and use dApps on all blockchains through Atato’s WalletConnect feature. At a time when preventable cyber-attacks are on the rise, security has become a key priority.
Jay Lin, Director of Partnerships at Cronos Chain, emphasised the importance of Atato’s BYOC, which is now available for SME and private custody wallets on the Cronos network.
In conclusion, this partnership is an important step towards creating a more secure, compliant and interoperable ecosystem for projects within Cronos Chain.
Judge rejects SEC appeal against Ripple: XRP goes downhill
US District Judge Analisa Torres recently dismissed an appeal brought by the US Securities and Exchange Commission against Ripple, a company that uses XRP in one of its solutions.
The judge’s decision was based on insufficient evidence provided by the SEC to support its case. This led to a 5% increase in the value of XRP.
However, it is important to note that the trial is still ongoing and scheduled for April 2024, so the SEC has not yet concluded its legal commitment.
Previously, Judge Torres found Ripple guilty of violating securities laws by selling XRP to institutional investors but not to retail customers.
This decision raised questions about the role of regulators in overseeing the cryptocurrency industry. Both the SEC and Ripple have yet to make official statements regarding this latest decision.
Despite Ripple’s legal victory, the outlook for XRP remains uncertain. Despite a recent rally that saw XRP gain $1 billion, there are doubts about the sustainability of this growth.
Currently, XRP is trading at around $0.5, up 4% in the last week. Although it has rallied in the last 24 hours, there are potential risks unless there is significant buying support.
In addition, trading analysts at QCP Capital noted a historical trend in the cryptocurrency market in October, dubbed “Uptober”, in which major cryptocurrencies, including XRP, experienced price increases.
However, they remain cautious due to external factors that could influence this trend, such as the possible impact of the SEC’s move to an ETF on Ethereum futures, which could affect the market and prices.