San Francisco-based blockchain payments firm Ripple Labs Inc. has bagged a major deal with Riyad Bank in the Middle East. Reece Merrick, the Managing Director of Middle East and Africa at Ripple, announced the new development on X, citing that it is a move targeted at advancing Saudi Arabia’s financial future through blockchain innovation. Jeel to Explore Tokenization with Ripple Ripple’s deal is specifically with Jeel, a subsidiary of Riyad Bank. Together, they would be exploring advanced blockchain ap ...

Core Insights - XRP is a significant player in the crypto market with a market cap of approximately $140 billion, making it challenging to achieve extraordinary returns like becoming a millionaire overnight [1][2] - Ripple has secured a $500 million investment from notable Wall Street firms, which will be utilized to enhance its infrastructure for institutional payments, crypto custody, and real-world asset tokenization [2][8] - While XRP may not provide the explosive returns some investors hope for, it still has potential for substantial growth over the long term, with a plausible 3x increase in value over the next decade [6][9] Company Developments - Ripple's recent $500 million investment round was led by Fortress Investment Group and Citadel Securities, aimed at supporting product development across various financial services [8] - The investment will facilitate advancements in payments, transfers, stablecoin issuance, institutional crypto custody, and prime brokerage services, all leveraging the XRP Ledger [8] - The ongoing development of the XRP Ledger is expected to create increased demand for XRP, potentially enhancing its value [8][9] Market Position - XRP is viewed as a mature asset in the crypto space, which limits the likelihood of extreme price surges that could lead to millionaire-making returns [5][6] - The current market dynamics suggest that while XRP may not achieve astronomical growth, it remains a viable option for long-term wealth building within a diversified investment portfolio [2][6]

Group 1 - Citi and Coinbase are collaborating to develop digital asset payment services for institutional clients, aiming to connect traditional finance with crypto finance [1] - The initial phase will focus on enhancing fiat pay-ins and pay-outs, supporting Coinbase's on/off-ramps, and improving payment orchestration [1] - Future initiatives may explore alternative fiat-to-stablecoin payout methods and expand 24/7 access for Citi clients [1] Group 2 - Debopama Sen, Citi's head of payments and services, stated that the partnership aligns with Citi's "network of networks" strategy across 94 markets [2] - This collaboration extends Citi's efforts into 24/7 digital money solutions, building on existing services like Citi Token Services and USD Clearing [2] - Citi currently serves 90% of the top e-commerce firms and 15 of the world's 20 largest fintechs [2] Group 3 - Citi plans to offer crypto custody services by 2026, allowing the bank to hold native digital assets such as bitcoin and ether for clients [3] - At the time of publication, Citi shares were around $98.60, while Coinbase shares were at $318.50, reflecting a modest decline [3]

Core Viewpoint - Crypto.com has applied for a national trust bank charter from the U.S. Office of the Comptroller of the Currency (OCC) to enhance its federally supervised crypto-custody services for institutional clients [1][2]. Group 1: Application Details - The application is part of Crypto.com's strategy to extend its regulated, security-first services aimed at large customers, including ETF sponsors and corporate advisers, focusing on custody and staking-related trust services across multiple blockchains [2]. - The application does not impact the existing operations of Crypto.com Custody Trust Company, which is already serving institutions as a qualified custodian under New Hampshire law [2]. Group 2: National Trust Bank Definition - A national trust bank is a limited-purpose national bank supervised by the OCC, providing custody, safekeeping, and fiduciary services nationwide, but does not engage in traditional banking activities such as taking deposits or making loans [3]. Group 3: Precedents and Comparisons - The OCC has previously approved similar applications, such as Anchorage Trust Company's conversion to Anchorage Digital Bank and Paxos National Trust in New York, indicating a trend among large crypto firms seeking national trust charters [4][5]. - Other firms like Coinbase and Circle have also filed for national trust charters, indicating a growing interest in federal oversight for crypto custody services [5]. Group 4: Implications of Approval - If approved, the OCC charter would primarily target institutional custody rather than consumer deposit accounts, potentially simplifying the use of trust services for large counterparties under a unified regulatory framework [7]. - The approval could indirectly influence market operations, including asset segregation, verification processes, and the availability of products through ETFs and advisers, although it would not convert Crypto.com into a deposit-taking bank [7]. Group 5: Regulatory Context - The OCC typically does not comment on pending applications, and past approvals have included specific conditions and timelines, emphasizing that outcomes are not guaranteed and are assessed on a case-by-case basis [8].

Core Insights - U.S. Bank has been selected as the custodian for reserves backing Anchorage Digital Bank's payment stablecoins [1] - Anchorage Digital Bank is the only crypto-native bank in the U.S. with a federal charter, operating under the oversight of the Office of the Comptroller of the Currency (OCC) [1] - U.S. Bank is one of the largest global custodians in the nation, with capabilities extending into nearly 100 financial markets worldwide [1]

Core Viewpoint - The SEC's no-action letter provides clarity for crypto firms, allowing them to use state-chartered trust companies for custody of digital assets without facing regulatory penalties, which is a significant shift from previous rigid regulations [1][4]. Summary by Sections SEC's No-Action Letter - The letter states that if a state trust company is properly established to handle crypto and adheres to specific rules, advisers and funds can treat it like a traditional bank for custody purposes [2][3]. Requirements for Trust Companies - Trust companies must be licensed to hold crypto, have written protections in place, keep client assets separate from their own, and cannot access those assets without explicit permission [3][6]. Importance for Custody - The SEC's move is crucial as it expands the options for crypto custody, which were previously limited to banks or broker-dealers, often unsuitable for digital assets [4][5]. Flexibility and Responsibilities - While the SEC's letter offers flexibility, advisers must ensure that the trust company is a suitable choice for their clients and that all necessary safeguards are documented in contracts [6][7]. Industry Reactions - The response to the SEC's decision is mixed; some industry players welcome the clarity, while others, like Commissioner Caroline Crenshaw, express concerns about potential risks, lack of data, and the possibility of inconsistent rules that could harm investors [8].

Blockchain Security Incidents - From 2012 to 2025, 84 notable blockchain security incidents were analyzed [1] - Wallet attacks resulted in $7 billion (十亿) in losses, highlighting the importance of wallet design [1] Wallet Design and Vulnerabilities - A new 8-axes framework is proposed for classifying and evaluating wallet designs [1] - A survey identified 33 vulnerabilities across hardware, software, custodial, and non-custodial solutions [1] Custodial Wallet Model - A novel shared custodial wallet model is introduced for institutions, enabling secure, compliant multi-party access [1]

Security Incidents & Losses - Blockchain security incidents analysis from 2012-2025 highlights the importance of wallet design [1] - Wallet attacks resulted in $7 Billion (USD) losses [1] Wallet Design & Vulnerabilities - A new 8-axes framework is proposed for classifying and evaluating wallet designs [1] - Survey identifies 33 vulnerabilities across hardware, software, custodial & non-custodial solutions [1] Custodial Solutions - A novel shared custodial wallet model is introduced for institutions, enabling secure, compliant multi-party access [1]

RT Exponential Science (@Exponential_Sci)🔐 Crypto custody needs a rethinkAnalysing 84 notable blockchain security incidents from 2012–2025, so you don’t have to. At @xrplapex, Yimika Erinle presented new research from Exponential Science and the @UKCBT_org.Highlights:- $7B lost to notable wallet attacks, this is why wallet design matters- A new 8-axes framework to classify and evaluate all wallet designs- Survey of 33 vulnerabilities across hardware, software, custodial & non-custodial solutions- A novel sh ...