Crypto Gizz base.eth (zion08)

Ripple has received preliminary approval of its Electronic Money Institution license from Luxembourg’s financial regulator, bringing it closer to offering regulated digital asset payment services across the EU.

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Singapore’s monetary authority has expanded the scope of Ripple’s Major Payment Institution (MPI) license. This allows Ripple Markets APAC to broaden its regulated payment offerings in Singapore, positioning the network as one of the few blockchain-enabled institutions globally with an MPI license.

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Ripple is integrating the RLUSD stablecoin into Ethereum L2s, starting with Optimism, Base, Ink, and Unichain. In partnership with Wormhole and using its NTT standard, the integration makes RLUSD the first U.S.-based stablecoin on these networks, creating liquidity pairs with wrapped XRP (wXRP), and establishing cross-chain infrastructure that enables institutional capital to move seamlessly between XRPL and Ethereum Layer 2 ecosystems.

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Canary Capital’s newly launched U.S. spot XRP ETF (XRPC) registered $58.6 million in first-day volume, far exceeding analyst expectations of $17 million. Yet the strong debut failed to stabilize XRP, as derivatives markets flashed stress signals. Roughly $28 million in XRP liquidations hit within 24 hours, with long positions accounting for nearly $25 million of the wipeout. Market analysts warn that institutional flows remain conflicted—ETF inflows show interest, but broader risk-off pressure continues suppressing crypto liquidity and momentum.

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Ripple partnered with Mastercard, WebBank, and Gemini for RLUSD settlement: This collaboration combines Ripple’s technology with Mastercard’s global payment network, WebBank’s banking infrastructure, and Gemini’s crypto expertise. The partnership enables faster, more efficient stablecoin transactions using RLUSD across traditional and digital financial systems.

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Ripple secured a $500 million investment from Fortress and Citadel Securities: This major funding round brings two financial powerhouses to Ripple’s cap table, and enables the network to expand its blockchain payment infrastructure and strengthen its position in the cross-border payments market.

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On Wednesday, Bitwise’s Chief Investment Officer Matt Hougan told Pedro Solimano that an XRP ETF could “easily become” a billion-dollar fund within its first handful of months. Steven McClurg, CEO of Canary Capital, which is expected to launch its XRP ETF in mid-November, is even more bullish. In August, he predicted investors will pour up to $5 billion into XRP ETFs within their first month of trading. That’s just a fraction of the $3.2 billion Bitcoin ETFs drew during their first month of trading, according to SoSoValue. Still, those predictions highlight the giddiness around altcoin ETFs.

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