Ripple government Reece Merrick believes crypto’s days of ache are over. The senior government officer and managing director of Ripple in Center East and Africa was talking within the context of the present favorable regulatory local weather.
In the latest optimistic improvement shared by crypto reporter Eleanor Terrett on X, the Federal Reserve has withdrawn its 2023 steerage that successfully blocked uninsured banks from changing into Fed members and fascinating in crypto. This steerage underpinned the Fed’s denial of Custodia Financial institution’s grasp account.
Merrick applauded this transfer, including in response to an statement by an XRP group member concerning the present optimistic regulatory outlook that the ache is within the rearview now.
“The pain is behind us now and the future is looking good,” Merrick added.
Ripple welcomes major advancements
SBI Ripple Asia and Doppler Finance have revealed a decision to explore collaboration in XRP-based yield infrastructure and real-world asset (RWA) tokenization on the XRP Ledger, advancing institutional-grade finance on XRPL.
Nasdaq-listed VivoPower is expanding its XRP-linked strategy through a new joint venture that aims to buy hundreds of millions of dollars worth of Ripple Labs shares, giving investors indirect exposure to nearly $1 billion worth of underlying XRP.
Vivo Power’s digital asset unit, Vivo Federation, has been engaged by South Korea–based asset manager Lean Ventures to source an initial $300 million of Ripple Labs equity.
RLUSD stablecoin turns one
Ripple USD (RLUSD) stablecoin is celebrating one year of its launch. According to Jack McDonald, Ripple’s SVP of stablecoins, RLUSD, has gone from virtually zero to a top five USD stablecoin in about a year, highlighting some of the key milestones reached.
Ripple CEO Brad Garlinghouse recalled a prediction he made that RLUSD would be a top five USD stablecoin by the end of the year, pointing to the massive growth recorded by the Ripple stablecoin.
