SBI Group, a major Japanese financial firm partnered with Ripple, announced its acquisition of crypto exchange Bitbank for 46.7 billion yen ($300 million). This deal will push SBI's assets under management to over 1 trillion yen, making it one of Japan's largest financial companies by AUM. The acquisition also strengthens SBI's position in Japan's crypto market and coincides with its extended partnership with Ripple, enabling use of the RLUSD stablecoin in Japan. SBI plans to start buying shares from Bitbank's founder and other shareholders as early as August.
The XRP Ledger has overtaken Ethereum for the first time in Ripple USD stablecoin supply, reaching $801.8 million compared to Ethereum's $795.6 million. This shift, called the "flippening," was driven by stable demand on XRP Ledger and token burns on...
XRP's price declined about 2% despite Ripple securing regulatory approval for its stablecoin RLUSD in Japan, a key market for expansion. The drop was influenced by the shutdown of Strobe Finance, a DeFi lending platform on the XRP Ledger, which raise...
Japan's Financial Services Agency has approved Ripple's RLUSD stablecoin as an electronic payment instrument, allowing trading on SBI VC Trade's platform for both retail and institutional investors. This marks a significant regulatory milestone in Ja...
XRP's price fell sharply to around $1.08, dipping below $1.05, following Bitcoin's drop below the $60,000 mark. This decline is not due to XRP-specific issues but rather its historical tendency to amplify Bitcoin's downward moves, losing nearly twice...
Ripple's XRP price fell more than 15% from its June 16 peak of around $1.29 to about $1.057 by June 24, pressured by profit-taking after Ripple's EU regulatory approval and weak Bitcoin performance. Technical analysis shows a descending wedge pattern...
