Ripple

Ripple has applied for a US national bank charter and a Federal Reserve account to support its stablecoin RLUSD. The move comes as new laws push stablecoin issuers to meet tougher rules, with Ripple aiming to boost trust and compete with USDC and USDT.

Ripple and the SEC have jointly asked a US court to lift a ban on XRP sales to institutions and cut Ripple’s fine from $125 million to $50 million. They hope this will end the long-running legal case before a key 16 June deadline.

Ripple has partnered with Web3 Salon to support Japanese startups building on the XRP Ledger. The programme offers up to $200,000 in funding, mentoring, and events to boost XRPL use in Japan.

Ripple’s stablecoin RLUSD received approval from the Dubai Financial Services Authority for use in the Dubai International Financial Centre, joining its existing authorisation in New York. This allows RLUSD to be integrated into Ripple’s payment network, offering fast, low-cost, and regulated cross-border transactions for businesses in the region.

Circle has denied rumours it is being sold to Ripple or Coinbase, saying it is not for sale. The company is continuing with its IPO plans and wants to grow on its own.

StraitsX has partnered with Ripple to launch its Singapore dollar-backed stablecoin XSGD on the XRP Ledger, improving speed and lowering costs for digital payments. This partnership supports cross-border transactions and expands access to regulated stablecoins in Asia.

Ripple and the SEC have filed a joint motion to finalise a $50 million settlement and lift the injunction, moving to close their long-running case. However, SEC Commissioner Crenshaw strongly opposes the deal, warning it weakens investor protections and sends the wrong message to crypto firms.

Ripple has decided against an IPO in 2025, citing its strong financial position and lack of need for external funding. Instead, the company is focusing on strategic acquisitions and long-term growth, such as its $1.25 billion purchase of Hidden Road.

Ripple and the SEC have filed a joint motion to pause their appeals for 60 days while finalising a settlement. The move follows an agreement in principle to resolve the lawsuit, including the SEC's appeal and charges against Ripple executives.

Brazil's Braza Group is launching a stablecoin pegged to the Brazilian Real on the XRP Ledger to improve cross-border payments. This launch, expected in early 2025, is part of Brazil’s broader push to adopt blockchain and digital assets, including the approval of the first XRP ETF.