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Gate US App launches USD balance and wire transfer functions, supporting direct deposits and transactions in USD

According to the official announcement, the Gate US App has now launched the USD balance and wire transfer deposit and withdrawal functions. Users can directly hold USD in their accounts and use the USD balance for transactions, eliminating the need to convert funds into stablecoins during trading gaps, further enhancing the flexibility and convenience of fund management.Relying on the upgraded banking and payment infrastructure, eligible users who have completed identity verification can now initiate wire transfers through their own U.S. bank accounts, supporting higher transfer limits compared to bank cards or third-party payment methods, and can withdraw USD balances to verified bank accounts in the same name.Currently, Gate US holds 37 state-level money transmission licenses (MTLs), with compliant operations covering 47 states and regions in the U.S., laying a compliant foundation for the platform to continue advancing in the U.S. market and improving local financial services. With the launch of the USD balance and wire transfer functions on the app, Gate US's fiat service system covers a richer range of fund management scenarios, providing eligible users with a more efficient and convenient experience for USD fund deposits, withdrawals, and transactions.USD deposit and withdrawal services are only available in certain U.S. jurisdictions, and residents of Colorado, Hawaii, Missouri, New Jersey, Utah, or Wyoming cannot use this service.

XRP Ledger developers test a zero-balance account creation plan, which is proposed to be funded by the sponsor to cover the 1 XRP reserve requirement

According to CoinDesk, XRP Ledger developers are testing a new feature that aims to allow the creation of blockchain accounts with an initial balance of zero, with existing accounts bearing the reserve required for new accounts, thereby lowering the financial threshold for payment applications and automated software to create wallets on a large scale. This proposal was submitted on October 15 in the form of a SponsoredAccountCreate transaction proposal.According to current XRP Ledger rules, each account must reserve at least 1 XRP as a reserve, meaning that creating 100,000 independent accounts would require locking up 100,000 XRP. The new proposal intends for sponsored accounts to bear this reserve requirement, and a broader fee sponsorship mechanism in the future could also allow applications to pay transaction fees on behalf of users, but the overall reserve requirement for the network will not be eliminated. This feature is expected to lower the usage threshold for scenarios such as embedded wallets, RLUSD stablecoin payments, and AI agent automated payments.However, the related code is still under review, and the sponsorship mechanism it relies on has not yet gone live on the mainnet. As of October 19, the mechanism has only received 11 votes out of the 35 required validator votes, still falling short of the 29 votes needed for approval.
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