- Ripple’s XRP Labs and Hedera have previously worked together on blockchain initiatives, including the DeRec Alliance for decentralized digital asset recovery.
- Amid the rumors, Goldman Sachs announced plans for an independent company leveraging its Digital Assets Platform to tokenize and issue blockchain-based financial instruments.
The Ripple community is elated as speculations over XRP’s possible collaboration with Hedera (HBAR) and Goldman Sachs have been on the rise. This trend follows comments by Shawn Oroogle, a member of the World Economic Forum (WEF). In a tweet, Oroogle fueled speculative rumors of an announcement involving the three entities.
XRP, HBAR, Goldman Sachs Partnership Soon?
However, Oroogle clarified that no evidence has been verified and that the claims are actually quite speculative. Nonetheless, his comments managed to fuel significant interest among crypto enthusiasts, more so in the XRP community. Although Oroogle offered no concrete evidence, his statements seemed to spark any kind of possible repercussions from such a collaboration.
The Ripple ecosystem fans expressed hope, and many believe that a significant update is in store for XRP. The speculations received added fuel when some community members tagged an earlier discussion involving Ripple CEO Brad Garlinghouse and Hedera Co-Founder Leemon Baird.
Back then, it was indicated that the two leaders pursued a blockchain-based collaboration. However, as of now, there is no confirmation of the fact that Goldman Sachs is involved in any collaboration with Ripple or Hedera.
Goldman Sachs’ Announces New Blockchain Venture
The rumors coincided with a report from Bloomberg revealing Goldman Sachs’ new plans in the blockchain sector. The report said that Goldman Sachs is in negotiations to get partners in establishing an independent company based on its Digital Assets Platform. The Digital Assets Platform was first launched last year 2022 to let traditional financial instruments be tokenized and issued on blockchain networks.
The new company would concentrate on enabling financial organizations to issue, trade, and settle blockchain-based financial instruments. Even though the new platform will be an independent business, Goldman Sachs is planning to maintain its digital assets unit and further expand its operations in the general blockchain and crypto arena.
Goldman Sachs has announced its initiative, which is an example of the firm’s continued commitment to digital innovation. However, there is no relation between this announcement and the claimed partnership with Ripple or Hedera.
A Look At Past Collaborations of Ripple &, Hedera
Ripple and Hedera have collaborated in the past within the blockchain industry. In May, Ripple, in collaboration with XRP Labs, partnered with Hedera and other major blockchain firms to launch the DeRec Alliance. This alliance is aimed at developing solutions for decentralized digital asset recovery.
Hence, users were able to recover private keys and secrets by exploiting a decentralized network. In addition, in September, Ripple and Hedera were co-founders of the MiCA Crypto Alliance, a coalition to make blockchain projects comply with the MiCA regulations of the European Union, per the CNF report.
The alliance’s aim, among others, was to bring about transparency, to protect consumers. Furthermore, it focuses on handling questions of sustainability with regard to climate disclosures, especially those crypto service providers ought to be disclosing.
