Kategorie: Crypto Markets

• Canary Capital has removed the “delaying amendment” in its XRP ETF filing, signalling a possible Nov. 13 launch.
• SEC and Nasdaq reviews could still affect the ETF’s final timeline.
• XRP-linked ETFs are already seeing strong inflows.

Canary Capital has amended its S-1 filing for a proposed spot Ripple (XRP) exchange-traded fund, removing a procedural clause that could clear the way for a November 13 launch.

The tweak is technical but meaningful: by eliminating the “delaying amendment,” the fund could become automatically effective under the 20-day statutory waiting period unless the SEC intervenes.

The update positions the XRP ETF to go live after 20 days

Canary’s latest submission to the Securities and Exchange Commission (SEC) removes language that usually allows the agency to control the effective date of a registration.

In practical terms, the fund is now positioned to become effective automatically after twenty days under Section 8(a) of the Securities Act of 1933 — a path several recent altcoin ETFs have followed.

Journalist Eleanor Terrett flagged the amendment in a social media post, noting that the change now sets up a possible November 13 launch.

🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.

This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P

— Eleanor Terrett (@EleanorTerrett) October 30, 2025

The fund, however, still needs Nasdaq to clear a Form 8-A listing.

If Nasdaq greenlights the 8-A and the SEC staff does not raise new comments, the statutory clock would make November 13 a realistic target.

SEC could still request more amendments

Despite the procedural move, the timeline is not guaranteed.

The SEC could still issue comments that require Canary to amend its filing again, which would push the effective date back.

The broader reopening of government operations adds a further variable: staff availability and review priorities could either accelerate or delay finalisation.

SEC Commissioner Paul S. Atkins recently expressed support for issuers using the auto-effective route during periods when agency operations slow.

He praised the legal mechanism behind the 20-day waiting period, noting it as a long-standing option for issuers.

While Atkins did not comment directly on Canary’s filing, his remarks suggest a regulatory environment that — at least in principle — can accommodate automatic effectiveness when filings are in order.

XRP ETF market is already active

Even before this XRP ETF wins full approval, the market for XRP-linked ETF products has been busy.

Several funds already trade, including leveraged and volatility products from providers such as Teucrium, Volatility Shares, Rex-Osprey, ProShares, and Purpose.

These offerings have drawn meaningful inflows, highlighting investor appetite for XRP exposure through ETF wrappers.

Teucrium’s leveraged XRP product in particular has accumulated substantial assets, while Rex-Osprey’s recently launched fund crossed the low hundreds of millions in assets under management.

A wider slate of issuers, including some of the industry’s larger names, has pending applications, suggesting further competition if Canary’s product does reach market first.

The post Canary Capital updates its XRP ETF application, eyeing November 13 launch appeared first on CoinJournal.

• Revolut users can now swap USD for USDT or USDC with zero fees.
• The service supports six major blockchains, including Ethereum and Solana.
• Revolut’s crypto unit drove a 298% revenue surge in 2024.

Revolut has introduced fee-free, 1:1 USD-to-stablecoin conversions, eliminating traditional costs and spreads and allowing the company’s 65 million users to exchange US dollars for USDT or USDC across multiple blockchains at no extra cost.

Revolut removes friction between fiat and crypto

The new feature enables Revolut users to convert USD directly into Tether (USDT) or USD Coin (USDC) on a true one-to-one basis.

Customers can swap up to $578,000, or roughly €500,000, over a 30-day rolling period without paying any fees or spreads.

For every dollar deposited, users receive a matching stablecoin amount, effectively removing the pricing anxiety and conversion friction that typically come with moving between fiat and crypto.

The service supports transactions across six major blockchain networks, including Ethereum, Solana, and Tron, giving users flexible routing options.

The app automatically handles the technical steps, letting customers pick their destination chain without dealing with complex bridging or on-chain settlements.

Revolut’s Head of Product for Crypto, Leonid Bashlykov, described the rollout as a major leap toward making crypto access seamless.

Bashlykov said the company is covering the spread internally to guarantee exact 1:1 conversions, provided the stablecoins maintain their dollar peg.

A model built on simplicity and trust

Revolut’s in-app swap feature mirrors the company’s earlier approach to foreign exchange, which set a new standard for transparent, real-time conversions in digital banking.

Just as Revolut made zero-commission FX trading mainstream a decade ago, it now aims to make stablecoin swaps just as simple and accessible.

The fintech clarified that while the in-app conversion is completely free, standard network gas fees or withdrawal costs may still apply when tokens move off-platform.

Even so, the elimination of spreads and conversion fees marks a rare example of a financial institution fully absorbing costs to simplify crypto adoption.

For small and medium-sized businesses, particularly in regions facing currency instability, the implications are significant.

Venture capitalist Elbruz Yılmaz noted that Revolut’s clean one-to-one ramp “turns stablecoins from a speculative asset into working capital infrastructure,” helping businesses reduce foreign exchange losses and speed up payment cycles.

Revolut building on the strong performance of its crypto unit

The rollout builds on a strong year for Revolut’s wealth division, which includes crypto trading, commodities, and savings.

The segment posted a 298% jump in revenue in 2024, reaching £506 million, driven largely by growing demand for digital asset products.

The company’s full-year results showed a record £1.1 billion in profit and total revenue of £3.1 billion, underscoring its evolution from a digital bank into a global financial powerhouse.

Much of that momentum stems from Revolut X, the firm’s professional trading platform launched in 2024.

Offering over 100 tokens with zero maker fees and minimal taker fees, Revolut X positioned the fintech as a direct competitor to established crypto exchanges.

Its expansion to 30 European countries later that year strengthened the company’s foothold in the region.

With its new 1:1 stablecoin conversion, Revolut has not only removed a major barrier to digital asset adoption but has also redefined what a modern neobank can offer.

In doing so, it positions itself at the intersection of traditional banking and the decentralized financial future that is rapidly taking shape.

The post Revolut rolls out 1:1 USD-to-stablecoin swaps with zero fees or spreads appeared first on CoinJournal.

• Q3 net revenue hit $1.79 billion, up from $1.13 billion a year ago.
• Profits soared to $433 million, compared to just $75.5 million last year.
• Transaction fee revenue jumped 83% to $1 billion amid a crypto market upswing.

A surging crypto market powered Coinbase Global to a stronger-than-expected third quarter, with the exchange reporting significant beats on both profit and revenue as trading activity boomed and its services division hit a new record.

The impressive results, which reflect a crypto market that saw Bitcoin reach an all-time high during the quarter, underscore the company’s successful strategy of catering to advanced traders and expanding its institutional offerings.

The news sent Coinbase stock up as much as 2.6% in after-hours trading.

Coinbase’s financial results significantly outpaced the same period last year.

The company reported a net profit of $433 million, or $1.50 per share, a massive increase from just $75.5 million a year ago.

Net revenue for the quarter tallied $1.79 billion, up from $1.13 billion in the prior year.

This was driven by a sharp increase in trading volume, which totaled $295 billion for the quarter, a substantial jump from $185 billion in the same period last year.

Two engines of growth: trading and services

The company’s revenue growth was powered by strong performance in both of its core business segments.

Transaction fee revenue, the company’s traditional bread and butter, climbed 83% from a year ago to hit $1 billion.

Coinbase CFO Alesia Haas told Yahoo Finance Executive Editor Brian Sozzi that this growth was fueled by sophisticated market participants.

“We rolled out this new white-glove service offering that’s seen a lot of traction that we’re able to retain and grow these advanced traders on our platform,” she said.

Meanwhile, the company’s subscription and services division—which includes revenue from stablecoins, staking, and interest—rose 34% to a record high of $747 million, demonstrating the company’s successful diversification efforts.

Riding a wave of regulatory clarity

Coinbase credited a more favorable regulatory environment in Washington for creating new opportunities, particularly in the stablecoin sector.

The Trump administration’s move to create a federal framework for stablecoins in July has provided a significant boost.

“We are accelerating payments through stablecoin adoption, which we anticipate will continue given policy tailwinds, and ongoing adoption from financial institutions and corporates for payment and treasury needs,” the company said in its letter to shareholders.

With regulatory clarity accelerating, crypto rails are set to power more of global GDP, and we believe Coinbase is positioned to lead.

The company’s focus on USDC, the second-largest stablecoin, generated $354 million in revenue, with the average USDC held across its products reaching an all-time high of over $15 billion in the quarter.

Strategic moves to capture the institutional market

Coinbase has been aggressively expanding its institutional footprint through both acquisitions and partnerships.

The $2.9 billion purchase of derivatives exchange Deribit in May is already paying dividends. “Our institutional trading revenues, they grew over 120% in the quarter,” Haas said.

The company is also embedding itself in the traditional finance world by forging key partnerships with major US banks.

These include a credit card partnership with JPMorgan Chase, a crypto-as-a-service deal with PNC, and a crypto payments collaboration with Citigroup.

To further enhance these efforts, Coinbase applied for a national trust bank charter earlier this month.

The post Coinbase crushes Q3 estimates as crypto market boom fuels revenue appeared first on CoinJournal.

• GFH App to enable instant crypto-to-fiat payments via Binance Pay.
• The partnership boosts Bahrain’s role in GCC digital finance innovation.
• Central Bank of Bahrain backs the service with PSP and stablecoin rules.

Bahrain’s GFH Financial Group has become the first Islamic investment bank in the Kingdom to integrate cryptocurrency payments directly into its banking app, marking a major milestone in the nation’s digital finance journey.

The partnership with Binance Pay enables GFH clients to perform real-time crypto-to-fiat transactions, bringing blockchain technology closer to traditional banking in Bahrain.

A first for Bahrain’s banking sector

Through this collaboration, GFH customers can now use Binance Pay within the GFH app to fund investments instantly and securely.

The feature allows users to convert digital assets into local currency without leaving the bank’s ecosystem, streamlining what was once a complex process.

This innovation eliminates the need for third-party exchanges for simple conversions, bridging the gap between crypto and conventional finance.

The service is powered by Binance Pay’s infrastructure, ensuring fast and low-cost transactions.

Clients can top up fiat e-wallets, custody both fiat and cryptocurrencies, and complete investment subscriptions within seconds.

For GFH Financial Group, the partnership is a defining step in its digital transformation strategy, designed to enhance accessibility and efficiency for customers managing digital and traditional assets alike.

Regulatory backing strengthens the launch

The Central Bank of Bahrain (CBB) has played a crucial role in supporting this advancement.

Earlier this year, it granted BPay Global B.S.C.(c) — a Binance Group company — a Payment Service Provider (PSP) license to operate in the Kingdom.

The license enables BPay Global to facilitate fiat and crypto custody, manage e-wallets, and process payments securely under the CBB’s supervision.

In parallel, the CBB introduced a stablecoin framework allowing both USD-backed and Bahraini dinar-pegged stablecoins to circulate in the local market.

This regulatory clarity provides a strong foundation for integrating crypto within the financial system, offering stability and ensuring compliance with international standards.

Financial experts say these policies strengthen Bahrain’s position as a crypto-friendly jurisdiction within the Gulf Cooperation Council (GCC).

Bridging traditional banking with blockchain

Osama Nasr, Chief Digital Banking Officer at GFH Financial Group, described the initiative as a transformative step that bridges traditional banking with blockchain technology.

“By bridging traditional banking with blockchain technology, we are introducing a new era of convenience, security, and accessibility for our customers,” Nasr said.

Nasr emphasised that this integration aligns with GFH’s broader goal of delivering smarter and more connected financial experiences.

From Binance’s side, Tameem Al Moosawi, General Manager of Binance Bahrain, highlighted the partnership’s alignment with Bahrain’s economic vision. “

We are contributing to a more competitive and sustainable digital economy. This partnership not only enhances financial innovation but also fosters digital literacy and positions the Kingdom as a leader in the future of finance,” he noted.

Regional momentum in crypto integration

The GFH–Binance partnership reflects a growing trend across the GCC, where financial institutions are increasingly adopting blockchain-based solutions.

In the UAE, Liv Bank, a subsidiary of Emirates NBD, has teamed up with Aqua Now for fiat-crypto settlements, while RAKBANK has partnered with BitPanda to offer similar services.

Together, these developments illustrate how Gulf countries are moving toward harmonising digital assets with established banking systems.

In Bahrain, the combination of regulatory foresight, Islamic finance principles, and fintech innovation has created fertile ground for crypto adoption.

GFH Financial Group’s integration of Binance Pay not only enhances the local banking experience but also signals Bahrain’s readiness to compete as a regional hub for digital finance.

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