Ripple Receives Strong Credit Score, Shiba Inu (SHIB) Burn Rate Rockets 2,332%, Cardano (ADA) Exec Teases Mastercard Partnership

Ripple Prime earns strong new credit score

Ripple has secured a “BBB” investment-grade issuer rating for its newly formed prime brokerage arm.

Ripple has secured a major stamp of approval from traditional Wall Street.

Ripple Prime, the company’s newly expanded prime brokerage arm, has received a “BBB” investment-grade issuer rating from global credit rating agency KBRA.

CEO Brad Garlinghouse has stated that the rating is “a clear validation” of Ripple’s strength, reliability, and tech. “Momentum builds when markets recognize these things,” he said. 

A “BBB” rating means a company is officially “investment grade.” This tells massive institutions, pension funds, and banks that the company is perfectly capable of meeting its financial commitments. The score has likely unlocked the door to a bigger pool of Wall Street clients.

Shiba Inu sees strong network activity as burn rate rockets 2,332%

Shiba Inu’s supply continues to plummet as the amount of SHIB tokens sent out of circulation over the last 24 hours surpassed eight million.

Shiba Inu is back to trading in red territory after multiple attempts to recover and reclaim previous highs.

Despite this persisting price weakness, Shiba Inu’s network activity has continued to grow as burn activities increasingly surge at a rocket’s pace.

As of Thursday April 2, Shibburn, the platform that tracks Shiba Inu burn activities, has showcased data revealing that the Shiba Inu burn rate has surged by a massive 2,332% over the last 24 hours.

The massive burn rate surge follows a large destruction of SHIB tokens that saw a total of 8,216,135 SHIB sent to dead wallets in seven separate transactions over the past day.

Although the amount of SHIB burned over the period is worth only about $49, per SHIB’s market value, it marks a major increase compared to the tokens burned in the previous day.

Cardano executive teases potential Mastercard partnership

EMURGO is working to help integrate Cardano into the Mastercard Partner Program.

The chief executive officer (CEO) of EMURGO, Phillip Pon, has hinted at a possible partnership with global payments giant Mastercard. In a post on X, Pon stated that EMURGO, the commercial arm of Cardano, has been actively engaging Mastercard’s Asia-Pacific (APAC) team.

The goal is to convince Mastercard to include Cardano (ADA) in its partner network. This will ensure that the Cardano ecosystem is represented in Mastercard’s crypto initiatives.

For perspective, Mastercard previously launched a Global Crypto Partner Program with 85 initial partners. However, the broader Cardano ecosystem was not part of the maiden list. Now, EMURGO has intensified its efforts to convince the global payment giant to get Cardano onboard.