Coinbase CEO Brian Armstrong said his company would not support the latest version of crypto market structure legislation in the US Senate, saying it gave too much power to the Securities and Exchange Commission. Other issues Armstrong cited include the bill’s “defacto ban on tokenised equities,” “DeFi prohibitions,” and proposed amendments that would further restrict companies’ ability to pay “rewards” on users’ stablecoin holdings. “We appreciate all the hard work by members of the Senate to reach a b ...

Core Insights - The financial industry is transitioning from traditional custody, execution, and settlement models to custody-native settlement, with institutions now focusing on which architectural model best fits their operational needs [1][32] Market Developments - Tokenized US Treasuries reached $9.11 billion in November 2025, a significant increase from approximately $1 billion in January 2024, with BlackRock's BUIDL fund holding $2.5 billion across eight blockchains [2][21] - Deutsche Börse Group launched AnchorNote, a custody-native pledging solution, allowing institutional clients to trade across exchanges while keeping assets in regulated custody, marking a significant shift in the market [3][31] - Major acquisitions in the market include Coinbase's acquisition of Deribit for $2.9 billion and Ripple's acquisition of Hidden Road for $1.25 billion, indicating a trend towards vertical integration in the crypto space [4][27] Regulatory Changes - The implementation of MiCA in December 2024 established a comprehensive regulatory framework in Europe, requiring asset segregation and creating a clearer pathway for institutional participation [5][23] - In the US, the SEC rescinded SAB 121 in January 2025, allowing national banks to provide crypto custody without prior approval, further facilitating institutional engagement [5][25] Infrastructure and Technology - Off-exchange settlement infrastructure is emerging to allow assets to remain in custody while facilitating trading across multiple venues, addressing the operational challenges of pre-funding [6][7] - Three primary models for custody-native settlement have emerged: Copper ClearLoop, Fireblocks Off Exchange, and BitGo Go Network, each with distinct advantages and trade-offs [8][32] - Deutsche Börse's AnchorNote utilizes neutral middleware to connect custodians and exchanges, allowing for efficient trading without the need for proprietary custody solutions [15][32] Market Trends and Projections - The institutional crypto custody market is projected to grow from $3.2 billion in 2024 to $27.8 billion by 2033, reflecting a compound annual growth rate (CAGR) of 26.7% [28] - The broader real-world asset (RWA) market, including tokenized Treasuries, is expected to expand significantly, with projections of reaching $2 trillion to $4 trillion by 2030 [22]

Core Insights - The SEC's settlement with Ripple in August 2025 confirmed that XRP secondary market sales are not securities transactions, enabling asset managers to invest without compliance issues [1] - XRP ETFs have seen rapid growth, with cumulative inflows surpassing $1.37 billion by early January 2026, making it the second-fastest crypto ETF to reach this milestone after Bitcoin [4][5] - The demand for XRP ETFs reflects a shift in institutional behavior, characterized by consistent inflows and a lack of redemptions, indicating a structural demand rather than speculative trading [8][9] Market Dynamics - XRP's exchange reserves decreased significantly from 3.76 billion XRP in early October to approximately 1.6 billion by late December, marking a 57% decline, the lowest level since 2018 [2] - The first XRP ETF, Canary Capital's XRPC, launched on November 13, 2025, and attracted $245 million on its debut, with cumulative inflows exceeding $1 billion within four weeks [3] - The consistent inflow of capital into XRP ETFs, even during market volatility, contrasts sharply with Bitcoin and Ethereum, which experienced significant outflows during the same period [15][16] Institutional Behavior - The 35-day streak of zero outflows for XRP ETFs indicates a strong institutional conviction, as pension funds and asset managers deploy capital based on approved mandates rather than short-term price movements [7][8] - The first outflow day occurred on January 7, 2026, with a modest $40.8 million exit, primarily from 21Shares' TOXR, which is negligible compared to the cumulative inflows [11][12] - Institutional demand for XRP is driven by its positioning around Ripple's cross-border payment infrastructure, differing from the more speculative nature of Bitcoin and Ethereum investments [16] Future Projections - Analysts predict various scenarios for XRP's price in 2026, with a bull case estimating prices between $4 and $5, contingent on sustained ETF inflows and continued decline in exchange supply [18][19] - The base case suggests a price range of $3 to $3.50, assuming steady ETF inflows and no major regulatory setbacks [20] - The bear case anticipates a price range of $2 to $2.50, influenced by macroeconomic factors that could limit new ETF allocations [21] - The structural setup favors bullish sentiment due to low exchange reserves and significant XRP locked in ETF custody [22]

The price of XRP climbed roughly 3% in 24 hours as Ripple secured a regulatory license in another major European country. Ripple announced on Jan. 14 that the blockchain technology and crypto company has secured a preliminary Electronic Money Institution (EMI) license approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). CSSF is a regulatory body in Luxembourg that oversees the financial sector in the Western European country. Related: Ripple-backed firm faces $220M unrealize ...

Core Insights - Ripple has received preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg's financial regulator, CSSF, which is a significant step for the company [1] - This approval follows Ripple's recent EMI license approval from the UK's Financial Conduct Authority, enhancing its capacity to expand cross-border payment infrastructure in Europe [2] - Ripple's President highlighted the EU's proactive stance on digital asset regulation, which provides necessary certainty for financial institutions to scale blockchain operations [3] Regulatory Expansion - With the new Luxembourg license, Ripple's licensing portfolio now exceeds 75 regulatory licenses globally, indicating a robust compliance framework [4] - The Ripple Payments platform has achieved a significant milestone, processing over $95 billion in volume and covering more than 90% of daily foreign exchange markets [4] Market Impact - The preliminary approval is seen as a pivotal step for Ripple to offer essential blockchain infrastructure to clients across the EU, promoting financial innovation in the region [5] - XRP, the cryptocurrency associated with Ripple's payments platform, experienced a price increase, trading at $2.17, reflecting a rise of over 3% on the day [5]

Quick Read XRP ETFs recorded $46M in net inflows on January 6 with cumulative flows crossing $1.3B in under 50 days. XRP surged 20% to $2.40 in early January driven by record ETF demand and post-SEC legal clarity. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. The XRP price surge in the first week of January made David Schwartz's timing look suspicious. XRP pumped 20% in early January, hitting $2.4 ...

Core Insights - Global regulators are pushing for blockchain companies to register and comply with existing laws, which could facilitate institutional involvement in the crypto market [1] - Ripple has secured early approval for an Electronic Money Institution (EMI) license in Luxembourg, marking a significant regulatory milestone for the company within the EU [2][5] - The price of XRP has stabilized above $2, indicating that traders are focusing on regulatory progress rather than market hype [3][4] Regulatory Developments - The approval from Luxembourg's financial regulator, CSSF, is a preliminary nod that positions Ripple as a compliant payments company rather than a legal risk [5] - The MiCA framework in the EU mandates that crypto service providers, including Ripple, must register, which is a step towards clearer regulations in the crypto space [4][6] - Once finalized, the EMI license will allow Ripple to offer services across the EU without needing to reapply in each country, enhancing its operational capabilities [5] Market Position - Ripple has established Ripple Payments Europe in Luxembourg in anticipation of regulatory changes, positioning itself strategically within the EU market [6] - The CSSF's approval will enable Ripple to provide regulated payment services involving stablecoins and other digital assets, expanding its service offerings [6] - Ripple's RLUSD stablecoin is currently among the top 20 stablecoins by market cap, with over $1.3 billion in circulation, indicating its growing influence in the market [6]

Core Insights - Ripple has secured preliminary approval for an Electronic Money Institution (EMI) license in Luxembourg, marking its second major European regulatory milestone within a week [1] - The approval allows Ripple to offer services across the entire European Economic Area once fully authorized, adding to its portfolio of over 75 licenses worldwide [2] - The recent approvals enable Ripple to service institutional clients in both the UK and the EU [3] European Market Strategy - The license approval supports Ripple's long-term regional strategy initiated last year, focusing on the European expansion for the RLUSD stablecoin, with Luxembourg as the entry point [4] - The "Green Light" status allows Ripple to operationalize its plans ahead of the full implementation of the Markets in Crypto-Assets (MiCA) regulation [4] - Service providers must secure authorization before the transitional period ends on July 1, 2026, which has led Ripple to prioritize acquiring licenses and building infrastructure [5] Market Context and Competition - The European payments market is competitive, with other entities like Bitstamp and Circle also establishing operations in the region [6] - The global stablecoin market has reached $298.3 billion, with Tether leading at $177.9 billion in market capitalization (59%) and Circle following with $72.8 billion (24%) [7]

We’ve secured our preliminary Electronic Money Institution license approval from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). 🇪🇺This is a pivotal step toward scaling Ripple Payments across the EU, bringing institutional-grade digital asset infrastructure to the region. https://t.co/Q72ntwwjFBThe momentum is global:→ 75+ licenses & registrations worldwide→ $95B+ in volume processed to date→ Reaching 90% of daily FX marketsWith the EU taking the lead in building a regulatory framework ...

Ripple reportedly reached a $40 billion valuation after a fresh funding round, pushing headlines that XRP is “undervalued.” XRP traded near $2.06 on Jan. 12 as the news circulated, holding its range rather than breaking higher. That gap highlights a bigger theme in crypto right now: strong companies do not always lift the tokens linked to them. This matters because many retail investors treat Ripple like a public company and XRP like its stock. Crypto does not work that way. Understanding the difference ...