Schlagwort: crypto markets

• Ripple partners with BNY Mellon to custody RLUSD reserves, aiming to enhance regulatory compliance and institutional trust.
• The move comes amid a surge of corporate and institutional interest in stablecoins, dubbed “stablecoin summer.”
• Ripple has also applied for a US banking charter and Federal Reserve master account to deepen its role in the US financial system.

Ripple has appointed the Bank of New York Mellon (BNY Mellon) as the primary custodian for reserves backing its US dollar-pegged stablecoin, RLUSD.

The partnership, announced Wednesday, aims to strengthen regulatory compliance and institutional credibility for Ripple and its stablecoin product.

BNY Mellon, the oldest bank in the United States and a major provider of financial services to institutional clients, will facilitate the movement of reserve assets and cash to support RLUSD conversions.

The arrangement marks a significant development in Ripple’s stablecoin strategy, which launched in December 2024.

“As primary custodian, we are thrilled to support the growth and adoption of RLUSD,” said Emily Portney, global head of asset servicing at BNY. “We are proud to be working closely with Ripple to continue propelling the future of the financial system.”

Institutional interest signals “Stablecoin Summer”

The collaboration between Ripple and BNY Mellon reflects a broader trend of traditional financial institutions entering the stablecoin space.

This wave of engagement, dubbed “stablecoin summer” by CNBC, is gaining momentum amid shifting regulatory dynamics in the US.

The Trump administration is rolling back restrictive crypto policies from the Biden era, while the Senate recently passed the GENIUS Act to set guardrails for US dollar-pegged stablecoins.

This regulatory clarity is attracting major corporate players. Amazon and Walmart are said to be exploring stablecoin initiatives, while companies such as Uber, Apple, and Airbnb are also reportedly assessing similar possibilities.

Stablecoins, which are digital tokens pegged to assets like the US dollar, aim to combine the speed and efficiency of blockchain networks with the price stability of fiat currencies.

Their growing appeal among institutions underscores their perceived utility in modernizing financial infrastructure.

Ripple Eyes US banking charter, federal reserve access

In addition to securing BNY Mellon as a custodian, Ripple recently applied for a US national banking charter and a Federal Reserve master account.

If approved, this would enable Ripple to hold RLUSD reserves directly with the central bank and integrate more deeply into the US payments system.

Ripple, founded 13 years ago, is best known for its cross-border payments platform serving banks, payment providers, and other financial institutions.

While its operations are largely international, the RLUSD launch represents a strategic move to expand its US footprint.

BNY Mellon’s involvement in crypto dates back to 2021, when it established a digital assets unit focused on servicing bitcoin and other cryptocurrencies.

The bank’s custodial partnership with Ripple is its latest step in supporting the broader digital assets ecosystem.

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• Ripple applies for US banking licence, deepening regulatory alignment.
• CEO Garlinghouse is involved in shaping the Senate CLARITY Act on crypto.
• Traders are closely watching for a breakout above $2.3531 to confirm bullish continuation.

XRP is gaining momentum, holding firm around $2.33 after rising nearly 3% over the past 24 hours.

 

The renewed optimism comes amid broader crypto market recovery, but XRP appears to be outperforming as regulatory clarity aligns with growing institutional interest.

Ripple’s move to apply for a US banking licence and CEO Brad Garlinghouse’s growing role in shaping national crypto policy have also contributed to market sentiment.

Garlinghouse is reportedly involved in discussions around the Senate’s CLARITY Act, a proposed bill that aims to establish a regulatory framework for digital assets in the United States.

XRP technicals show an upward bias toward $2.40

XRP/USD is currently trading inside an ascending channel, with both the 50 and 200 exponential moving averages (EMAs) showing bullish alignment.

The 50 EMA is near $2.29, while the 200 EMA sits around $2.25.

The crossover between these two averages suggests a shift in market structure from neutral to bullish.

The price is making higher highs and higher lows, with candles consolidating along the midline of the channel.

The next significant resistance level is $2.3531.

A confirmed close above that mark could open the door to $2.38 and eventually $2.40, a psychological barrier.

Relative Strength Index (RSI) is approaching overbought levels, currently near 68, indicating some consolidation may occur before further upside.

XRP trade setup hinges on breakout confirmation or support retest

Traders are closely watching for a breakout above $2.3531 to confirm bullish continuation.

A clean break and close above this resistance would signal potential for a push to $2.38 and possibly $2.40.

The price structure remains supportive of this scenario, with gradually increasing volume and technical indicators showing positive momentum.

Alternatively, if XRP fails to break above $2.35 and prints a bearish reversal signal, such as a shooting star or long upper wick, traders may look for re-entry around $2.30.

This level is aligned with the 50 EMA and the lower boundary of the current channel, providing a potential support zone.

In either case, XRP’s technical setup offers clearly defined entry and exit levels for traders responding to short-term price action.

Outlook turns bullish as regulatory hurdles ease

XRP’s recent strength comes as the broader crypto market rebounds from macroeconomic pressures earlier this year.

While other assets are still regaining footing, XRP’s position has been bolstered by decisive legal victories, active policy involvement, and an improving technical structure.

Ripple’s alignment with US regulatory frameworks and ongoing efforts to engage with lawmakers place it at the centre of evolving crypto legislation.

As Ripple continues to push for institutional adoption, the combination of legal clarity, policy engagement, and technical momentum could support further growth for XRP in the weeks ahead.

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• Solana’s network activity hit a record 15.39 million addresses.
• SEC fast-tracks SOL ETF filings after SSK ETF launch.
• SOL nears key $160 resistance amid strong technical setup.

Solana (SOL) has seen an impressive 45.6% surge over the past three months, driven by record-breaking network activity and growing optimism around a potential exchange-traded fund (ETF) approval in the United States.

Notably, the price hike has brought SOL closer to the key resistance zone around $160, raising hopes of a breakout as momentum builds from both technical and fundamental fronts.

Daily activity on the Solana Network hits record highs

Solana’s network has witnessed a sharp increase in usage over the past few weeks, with Daily Active Addresses (DAA) soaring to a historic peak of 15.39 million.

This surge in on-chain engagement reflects rising demand for the platform’s decentralised applications and staking services, especially at a time when other blockchain networks have shown stagnation.

In the first week of July, activity briefly dropped below 5 million, only to rebound to 14.63 million by July 7, signalling strong underlying user interest and a resilient ecosystem.

Such consistent growth in user activity is often a precursor to sustained price appreciation, particularly when it coincides with positive market sentiment.

Solana ETF speculation adds to bullish momentum

Speculation around the approval of a Solana ETF has intensified after the US Securities and Exchange Commission (SEC) asked fund issuers to update and resubmit their applications by the end of July.

While the SEC has until October 10 to reach a final decision, sources close to the matter have suggested that the timeline could accelerate following the surprise launch of the SSK ETF — the first Solana staking fund to go live in the US.

The SSK ETF, launched by REX Shares and Osprey, drew $12 million in inflows on its first day and recorded $33 million in trading volume, adding urgency to the SEC’s response timeline.

Analysts believe that the existence of a live Solana-based ETF has pressured the SEC to avoid giving one fund a competitive edge, as it did in the case of Bitcoin and Ethereum ETF approvals.

This regulatory backdrop has contributed to renewed bullishness in the Solana market, even though approval is not yet guaranteed.

Investor behaviour signals quiet accumulation

Exchange data also supports the bullish setup, with net outflows from centralised platforms increasing steadily in recent weeks.

This trend usually indicates that investors are moving their holdings into cold storage or decentralised wallets, a common signal of accumulation by long-term holders.

Moreover, despite low or negative funding rates, which show a lack of aggressive long positions, the market has remained firm — a setup that could lead to a short squeeze if SOL breaks higher.

With funding rates staying flat and volume holding above $4.5 billion daily, momentum could shift quickly if key resistance levels are cleared.

Technical analysis points to a breakout attempt

On the charts, Solana (SOL) is rounding off a classic cup-and-handle pattern, which is typically a bullish continuation signal when followed by a breakout above the upper handle.

Currently, SOL is hovering just under the critical resistance zone between $159 and $163.82, levels that align with key moving averages and Fibonacci retracements.

At the time of writing, Solana was trading at $150.76, slightly below the $159 barrier that has capped its rallies for several weeks.

The price stability above $150, despite volatile market conditions, shows strong buying pressure and investor confidence, even as leveraged traders remain on the sidelines.

While the Moving Average Convergence/Divergence (MACD) shows momentum tapering off, it remains near the zero line, indicating a potential trend reversal if upward pressure continues.

The Relative Strength Index (RSI) sits close to 50, revealing investor indecision but also suggesting room for a significant move in either direction.

A clean breakout above $159 would likely confirm the cup-and-handle formation and open the door to higher targets, with $194.25 and $215 as the next major price zones to watch.

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• The move makes it the first publicly traded company in Japan to pay its top executive solely in cryptocurrency.
• The company currently holds a range of digital assets, including 1,051.56 BTC and 901.44 ETH.
• The development comes amid broader corporate interest in Bitcoin.

Remixpoint, a Tokyo-listed energy consulting and crypto services firm, announced on Tuesday that it will begin compensating its CEO and President Yoshihiko Takahashi entirely in Bitcoin.

The move makes it the first publicly traded company in Japan to pay its top executive solely in cryptocurrency.

The company said the decision is aimed at aligning the leadership’s economic interests more closely with those of its shareholders, particularly in light of restrictions that prevent company executives from holding stock due to Japan’s insider trading regulations.

“By receiving compensation in Bitcoin, the company’s leadership will share the same economic fate as shareholders, fostering a system that aligns economic value with investors,” Remixpoint said in a press release.

Compensation shift tied to regulatory constraints

The firm said its shareholders had requested that executives hold company stock to ensure stronger alignment with long-term investor interests.

However, Remixpoint stated that such a step is not feasible under current Japanese securities laws that restrict insider holdings.

As an alternative, the company said it chose bitcoin as a vehicle to mimic the financial exposure associated with equity ownership.

“My decision to receive my entire compensation in bitcoin is a clear signal that I am ‘in the same boat’ as our shareholders,” Takahashi said in a statement.

“I am fully committed to enhancing corporate value and managing with a shareholder-focused perspective.”

Corporate Bitcoin holdings and Yen hedge strategy

Remixpoint began investing in cryptocurrencies in September 2024, describing the move as part of a broader strategy to hedge against the depreciation of the Japanese yen and to diversify currency risk.

The company currently holds a range of digital assets including 1,051.56 BTC, 901.44 ETH, 13,920 SOL, 1.2 million XRP, and 2.8 million DOGE, according to disclosures on its website.

Data from Bitcoin Treasuries indicates that Remixpoint’s total bitcoin holdings are currently valued at around $114 million, making it one of the more prominent corporate holders of the cryptocurrency in Japan.

Shares Rise After Announcement

Shares of Remixpoint rose 0.71% on Tuesday following the announcement, according to data from Yahoo Finance.

The development comes amid broader corporate interest in bitcoin, with several global firms establishing BTC treasuries through equity offerings and capital raises.

Still, Remixpoint distinguishes itself as one of the few institutions to extend crypto adoption to executive pay.

While some companies have opted to allocate bitcoin as a treasury reserve, paying salaries in digital assets remains rare, especially among publicly listed firms.

The announcement marks a milestone for Japan’s corporate crypto landscape, signaling deeper integration between blockchain assets and traditional corporate governance structures.

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• IBIT now holds over 700,000 BTC, valued at approximately $75.5 billion at current prices.
• Since launching in January 2024, IBIT has become the dominant US spot Bitcoin ETF.
• It now accounts for over 55% of total BTC held across all US spot Bitcoin ETFs, according to data from Bitbo.

BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed 700,000 Bitcoin in holdings, marking a significant milestone for the spot Bitcoin exchange-traded fund.

According to blockchain data platform Glassnode, IBIT now holds 700,000 BTC, valued at approximately $75.5 billion at current prices.

The asset milestone was reached following a $164.6 million net inflow into the fund on Monday.

Outpaces other Bitcoin ETFs and corporate treasuries

Since launching in January 2024, IBIT has become the dominant US spot Bitcoin ETF.

It now accounts for over 55% of total BTC held across all US spot Bitcoin ETFs, according to data from Bitbo.

Its 18-month growth trajectory places it ahead of other leading funds in the category, including Fidelity’s FBTC, which holds around 203,000 BTC, and Grayscale’s GBTC, which holds approximately 184,000 BTC.

The ETF has also eclipsed the holdings of Michael Saylor’s Strategy (MSTR), which began accumulating Bitcoin in 2020 and currently holds around 600,000 BTC.

Strategy is the largest corporate holder of Bitcoin to date.

Since its inception, IBIT has delivered a total return of 82.67%, according to fund performance data tracked by market analysts.

Revenue surpassing flagship S&P 500 ETF

BlackRock’s Bitcoin ETF is now one of the firm’s top-performing products.

IBIT has become the third-highest revenue-generating ETF across BlackRock’s portfolio, which comprises over 1,100 funds.

It now reportedly generates more revenue for the asset manager than the iShares Core S&P 500 ETF (IVV), BlackRock’s flagship fund tracking the US equity benchmark, and the iShares Russell 2000 ETF (IWM), which tracks small-cap US stocks.

“New milestone, iShares Bitcoin ETF now holds over 700,000 BTC. 700,000. Did this in 18 months. Ridiculous,” Nate Geraci, president of The ETF Store, wrote on X.

Senior Bloomberg ETF analyst Eric Balchunas also noted the significance of IBIT’s rise in BlackRock’s rankings, underscoring its rapid emergence as a cornerstone product in the firm’s ETF offerings.

IBIT’s rapid growth coincides with strong demand for spot Bitcoin ETFs in the US market, which collectively have attracted over $50 billion in net inflows since launching in January 2024.

These ETFs are considered the most successful ETF introductions in US financial history.

According to research from Galaxy Digital, the combined buying activity of US Bitcoin ETFs and Strategy has consistently outpaced Bitcoin’s net new issuance from miners.

In 2025 alone, these entities have purchased $28.22 billion worth of Bitcoin, compared to $7.85 billion in new Bitcoin generated by miners.

Galaxy noted that this demand-supply imbalance has persisted every month except February, when the group recorded net Bitcoin sales totaling $842 million.

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