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Crypto

XRP turns weak after 50 percent surge as banks expand their own payment networks

XRP is losing momentum after a sharp rise, as large banks expand blockchain-based systems that reduce the need to pre-fund cross-border payments without using separate cryptocurrencies. XRP rose 49.4 percent over the past week but fell 2.2 percent over 24 hours. JPMorgan is broadening its Kinexys platform, while Citigroup is linking dollar clearing with token services. Swift is also connecting bank-issued digital deposits, adding competitive pressure.

Crypto

Sooho IO partners with Partior on cross-border payment cooperation

Sooho IO, a blockchain-based financial infrastructure company, has partnered with global settlement network Partior to build cross-border payment and settlement infrastructure, it said on Aug. 26. Partior settles cross-border transactions in real time based on the U.S. dollar, Singapore dollar and euro, with shareholders including DBS, JPMorgan and Standard Chartered. Under the agreement, Sooho PartnerHub will enable settlement of multi-currency cross-border payments on Partior’s tokenised deposit network.

Industry

Japan\'s Letara raises 2.6 billion yen to expand from small satellite thrusters to large rocket systems

Japanese space technology startup Letara has raised 2.6 billion yen ($16 million) and will expand its business from propulsion systems for small satellites to large rocket systems. The company plans to broaden the application of its hybrid propulsion technology beyond space into defence and security. Letara said it has secured orders from rocket companies, satellite companies and the Japanese government, though it did not disclose contract sizes. Its next step is an in-orbit ignition test with an overseas partner.