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XRP Ledger: Ripple Exec Reveals Institutional Playbook
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XRP Ledger: Ripple Exec Reveals Institutional Playbook

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In the second episode of RippleX’s Onchain Economy series, RippleX Product Director Jazzi Cooper unveils the blueprint for institutional finance on-chain.

Cooper details three core features of XRP Ledger, including multipurpose tokens (MPTs), a permissioned DEX and a native lending protocol, regarded as the blueprint for institutional finance on-chain.

The future of DeFi isn’t just about decentralization; it’s about credit, compliance, and confidentiality at scale.

Episode 2 of the Onchain Economy series just dropped, and @jazzicoop details 3 core features of the XRPL:
↳ Multi-Purpose Tokens (MPTs)
↳ Permissioned DEX
↳… pic.twitter.com/Je84HOBAtP

— RippleX (@RippleXDev) October 3, 2025

According to the RippleX product director, XRP Ledger already has payment capabilities (obviously essential for cross border payments), but in a bid to replicate traditional finance or bring more use cases onto the blockchain, the need for credit origination remains clear, with XRPL’s approach a little bit different than typical DeFi ecosystems.

MPTs

Multipurpose tokens (MPTs) went live on the XRP Ledger mainnet this week. MPT is a new native token standard designed to make issuing real-world assets on-chain far simpler, safer and more aligned with how financial institutions operate.

MPTs are created with compliance controls built in so that issuers can enforce KYC/AML, freeze or claw back assets if required, add metadata like bond terms or reserve attestations and manage distribution securely with multi-sig and escrow.

Permissioned DEX and domains

According to Cooper, the permissioned DEX is a neat feature that builds on a couple of different capabilities of XRP Ledger. Permissioned DEX extends XRPL’s decentralized exchange into regulated contexts, enabling secondary markets for RWAs or FX with full AML/KYC controls.

Permissioned domains allow markets to gate participation based on credentials, creating user-controlled environments. According to Cooper, permission domains basically allow users to create a ring fence around a protocol on XRPL to add in various compliance features.

Lending protocol

Cooper spoke about a new lending protocol coming to XRP Ledger, which will allow for credit origination on-chain. The launch of XRPL’s native lending protocol is expected in XRPL version 3.0.0 release later this year.

This protocol, defined in the XLS-65/66 specifications, introduces pooled lending and underwritten credit directly at the ledger level.





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Crypto VCs Are Becoming More Conservative: Exec
Crypto Trends

Crypto VCs Are Becoming More Conservative: Exec

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Crypto venture capitalists are dialing back their risk appetite, avoiding the hot flavor of the month and applying a more critical lens to investments, according to Bullish Capital Management director Sylvia To.

“VCs are a lot more careful now. It’s not just a narrative play. Before you could throw a check and say, Oh, there’s another L1 but it’s going to be an Ethereum killer,” To told Cointelegraph during a sit-down interview at Token2049 in Singapore.

“Then subsequently, you saw all these new chains forming,” she said, explaining that the market became fragmented and a lot of funds were being deployed to new layer 1s and new infrastructure, which isn’t viable anymore.

“Who has been using it?” is the crucial question, says To

“We’re at a phase where you don’t have that luxury to just bet on these new narratives,” she said, adding that investments now require a much more critical lens.

“You really have to start thinking, there’s all this infrastructure being built in the industry, but who has been using it? Are there enough transactions? Is there enough volume coming through these chains to justify all the money being raised?”

To said that in 2025, many projects have been raising funds at inflated and often unjustified valuations, relying heavily on future cash flow projections.

18 crypto projects collectively raised $312 million during the week ending Sept. 29. Source: Messari

“The potential revenue and the pipeline they’ve got aren’t solidified,” To said, adding that it has been “a slow year.”

Crypto startup funding declined in Q2 2025

Eva Oberholzer, the chief investment officer at VC firm Ajna Capital, recently echoed a similar sentiment to To. 

Oberholzer told Cointelegraph on Sept. 1 that VC firms have become much more selective with the crypto projects they invest in, representing a shift from the previous cycle due to market maturation.

“It’s more about predictable revenue models, institutional dependency, and irreversible adoption,” Oberholzer said.

Related: Crypto VC firm Archetype closes $100M early-stage fund

Galaxy Research’s latest VC report showed that crypto and blockchain startups raised a total of $1.97 billion across 378 deals in the second quarter of 2025, which represents a 59% decline in funding and a 15% drop in deal count compared to the previous quarter. 

Overall, total venture capital investment into crypto amounted to $10.03 billion over the three months ending June.

Leading the pack, Strive Funds, an asset manager founded by American entrepreneur and politician Vivek Ramaswamy, secured $750 million in May to establish “alpha-generating” strategies through Bitcoin-related purchases.

Magazine: Hong Kong isn’t the loophole Chinese crypto firms think it is



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Former Ripple Exec Breaks Silence on CBDC Experiment Impact on XRP Ledger
GameFi Guides

Former Ripple Exec Breaks Silence on CBDC Experiment Impact on XRP Ledger

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Former Ripple executive Anthony Welfare has broken silence on the impact of CBDCs experiment for XRP Ledger’s development.

From 2021 to 2024, Ripple became increasingly active in the development of central bank digital currencies.

In 2021, Ripple announced its partnership with the Royal Monetary Authority of Bhutan and the Republic of Palau for CBDC pilots.

Fast forward to 2023, Ripple announced CBDC partnerships with Montenegro and Columbia central banks. That same year, Ripple revealed a platform dedicated to central bank digital currencies powered by XRP Ledger.

This year, 2025, marked a significant shift for Ripple as it highlighted a new focus for its operations. In February 2025, Ripple unveiled a major redesign of its website that made no mention of central bank digital currencies (CBDCs), which sparked speculation that the company was stepping back from CBDC initiatives or simply keeping a low profile amid the U.S. anti-CBDC stance.

Former Ripple executive weighs in

While Ripple seems to have shifted focus presently from CBDCs, former Ripple executive Anthony Welfare, in a recent tweet, hinted that its prior efforts and engagement with CBDCs might not be a waste.

According to Welfare, “The entire CBDC work was very important to learn what the Central banks wanted and how the commercial banks are key, hence Stablecoins as the main focus.” This was essential as it prepared XRP Ledger ahead for the current advancements it is seeing.

Welfare stated, “The learnings in the 2021 to 2024 period greatly impacted XRPL development from both Ripple and the wider partner ecosystem, like you have twigged a very important time for preparing XRPL for the current world we live in and the exponential growth of Stablecoins we are seeing.”

Ripple launched its institutional-grade stablecoin Ripple USD (RLUSD) in December 2024, on XRP Ledger and Ethereum blockchains.

Welfare indicated a current focus on interoperability, noting that CBDCs, stablecoins and tokenized deposits need to work together to make them easier to use.



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Tether (CoinDesk)
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Corporate Clients Hold Up to 15% of Assets on Mercado Bitcoin, Exchange Exec Says

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Corporate clients, mainly small and medium enterprises, account for between 10% and 15% of all assets under custody on Mercado Bitcoin, Brazil’s largest crypto exchange, according to Daniel Cunha, the firm’s head of corporate development.

“These companies barely move more than 10% of their holdings at any given time,” Cunha told CoinDesk in an interview at the exchange’s DAC 2025 conference. “They’re here to hold, not trade.”

The firms are primarily using bitcoin to protect their cash reserves from global volatility, he said, citing growing concern over inflation, currency devaluation and geopolitical instability.

The trend grew when companies like Strategy (MSTR) started adopting bitcoin as a corporate treasury asset. Strategy now holds 639,835 BTC, making it the world’s largest corporate holder of the cryptocurrency. Publicly-traded companies, as a whole, hold over 1 million BTC, but how much small and medium enterprises hold isn’t known.

Cunha did not reveal the exact figures these companies were holding on Mercado Bitcoin. Brazil has a history of cryptocurrency adoption, ranking fifth in Chainalysis’ Global Crypto Adoption Index, yet it only has one publicly-traded company holding BTC, Méliuz. OranjeBTC is set to soon list on Brazil’s B3 exchange to become the country’s largest publicly traded corporate holder of the cryptocurrency with $400 million in its treasury.

Cunha said these companies aren’t chasing yield or experimenting with altcoins, but rather are focusing on BTC and stablecoins like USDT and USDC to manage their treasuries. These holdings serve conservative, cash-management purposes rather than speculative plays.

The rise in institutional activity is also having a side effect: it’s reducing the overall volatility of crypto markets, Cunha said. That’s making bitcoin a more appealing option for treasurers, even asthe enterprise segment in Brazil is still just starting to adopt crypto.

“The big guys in Faria Lima? They’re on the sidelines,” he said, referring to the financial district in Brazil’s largest city São Paulo often compared to Wall Street. “They haven’t moved yet. It’s all waiting to happen.”



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Solana’s Alpenglow upgrade vote passes with 98% approval
GameFi Guides

Solana’s stablecoin supply nears $13b: Marinade Labs exec explains why

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Solana’s stablecoin supply is nearing $13 billion, with the network increasingly dominating stablecoin volumes.

Summary

  • Solana is becoming dominant in stablecoins, with supply nearing $13 billion
  • The network processes nearly 50% of all USDC transfers
  • Nicky Scannella from Marinade Labs explains why users are choosing Solana for stablecoins

Stablecoins are quickly becoming the backbone of crypto, and Solana is capturing an ever-larger share of the pie. The network now hosts $12.8 billion in stablecoins, a figure that may soon surpass its April 2025 highs at $13 million.

Stablecoin market cap on Solana | Source: DeFiLlama

What is more, the Solana network processes almost half of all USDC transactions, with Circle recently minting an additional 250,000 USDC on the network. To explain why Solana is starting to dominate stablecoins, crypto.news reached out to Marinade Labs, a native Solana protocol with over $2.4 billion locked.

Nicky Scannella, in charge of Business Development at Marinade Labs, explained what makes Solana so attractive for stablecoin transfers.

Crypto.news: Solana now hosts over $12B in stablecoin supply — what’s driving this inflow compared to Ethereum or other L1s?

Nicky Scannella: Solana combines liquidity, security, and efficiency at scale, with the highest on-chain activity of any major chain. That makes it the best home for stablecoins. Add in momentum from SOL ETF approvals and fresh institutional interest from firms like BlackRock and Grayscale, and the inflows make sense.

CN: How do you think the changing U.S. and global regulation of stablecoins will affect protocols like Marinade?

NS: Marinade welcomes regulatory frameworks — we’re prepared, especially with Marinade Select. Clear rules build trust without sacrificing Solana’s decentralized nature. As stablecoin adoption grows, it also pushes us to expand our product line with more stablecoin-focused solutions, which is an exciting direction for us.

CN: TradFi institutions and big tech projects are increasingly eyeing launching their own stablecoins. Given that many of these firms control user on-ramps, how can DeFi compete in the stablecoin realm?

NS: These launches aren’t competition; they’re bridges between TradFi and crypto. DeFi’s edge is openness and inclusivity. Marinade helps power Solana by making it more decentralized, which creates the foundation stablecoins need to grow in a sustainable way.

CN: Marinade recently integrated with Paxos’ USDG stablecoin. What is the significance of this move, and what motivated you to pursue the partnership?

NS: We’re working with USDG because it promotes aligned incentives — the core ethos of Solana. At the same time, USDG fits perfectly with our push to build more stablecoin-based products, which is a growing need as adoption accelerates. This integration makes staking more accessible while reinforcing decentralization on Solana.



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Coinbase guide sets record straight on new token listings
Crypto Trends

Coinbase exec addresses customer service backlash: ‘We know’

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In the wake of a massive data breach, Coinbase is taking swift action to restore trust with a comprehensive overhaul of its customer support operations.

Summary

  • Coinbase shares a 4-step strategy to fix poor customer support quality.
  • New tools and automation aim to reduce effort and improve live assistance.
  • Overhaul follows a major breach exposing data of 69,461 customers.

Senior Director Wes Griffith outlined four key initiatives aimed at addressing persistent user complaints and improving the overall experience for Coinbase customers.

The initiative comes as the exchange deals with fallout from a significant data breach affecting 69,461 customers.

Four-pillar strategy targets core support issues

Griffith shared the company’s approach to fixing customer support through four targeted initiatives.

The first approach focuses on preventing issues by addressing product problems early and removing roadblocks before they require customer contact. This approach aims to reduce the volume of support requests by addressing root causes.

We know customer support at Coinbase has been criticized. We hear you, we are consistently improving and want to bring you along the way.

Here’s how we’re making it happen:

1. Saving customers’ time by fixing product issues early and removing roadblocks before they turn into…

— Wes-G.eth 🛡️ (@jwesgriffith) September 19, 2025

The second pillar involves reducing customer effort through improved automation, including better APIs, enhanced knowledge base resources, and AI-powered support tools.

These upgrades aim to help users resolve issues independently without needing human assistance.

The third initiative addresses a major customer complaint by making it easier to reach human support representatives.

Coinbase is minimizing chatbot barriers that previously frustrated users trying to escalate issues beyond automated responses.

The final component focuses on improving live support quality when human interaction becomes necessary. The company has rolled out new tools to help support staff provide faster resolutions and higher-quality assistance in real-time conversations.

Griffith reported early positive results, with customer satisfaction scores hitting an all-time high in August, up 20% over the previous two months.

The company also reduced customer contact transfers to 10%. This means fewer users need to explain their issues multiple times to different representatives.

Coinbase data breach highlights support importance

The customer service improvements come as Coinbase deals with fallout from a major data breach affecting 69,461 customers.

Court documents revealed that Ashita Mishra, a TaskUs employee, planned a conspiracy involving photographing up to 200 customer records daily and selling the data to hackers for $200 per photograph.

The breach potentially cost Coinbase between $180 million and $400 million in remediation expenses and forced the company to terminate its relationship with TaskUs.

Mishra and his accomplices accumulated data from over 10,000 customers before their arrest. They also recruited other employees, including team leaders and operations managers.

In response, Coinbase terminated all involved TaskUs employees and established a new U.S.-based customer support hub.

CEO Brian Armstrong emphasized the dual approach to support improvements and stated the company is “improving products so fewer people need support, and providing a faster, higher quality experience when you do.”





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Gaming Gear

Tesla exec says the company will redesign door handles that reportedly pose safety risks

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Yesterday, the US National Highway Traffic Safety Administration opened an investigation into Tesla following a report by Bloomberg that its electric door handles could stop working when a vehicle’s low-voltage battery fails. That created a safety hazard that the publication found could trap passengers when a Tesla car was in an emergency situation, such as a crash. Now, Bloomberg is back with the news that Tesla plans to redesign those problematic handles. 

Tesla design head Franz von Holzhausen appeared on Bloomberg‘s Hot Pursuit! podcast and said the company is considering a new approach that combines the electric and manual release mechanisms. “The idea of combining the electronic one and the manual one together into one button, I think, makes a lot of sense,” he said. “That’s something that we’re working on.” He didn’t specify why Tesla was working on a redesign, but it’s hard to imagine the timing of the federal probe isn’t relevant. 

The company has already been in the NHTSA’s sights this year. Last month, the regulator opened an investigation into how Tesla was reporting crashes with its Autopilot and Full Self-Driving systems. Although Tesla claimed the inconsistencies in reports were due to a system error that it has fixed, the NHTSA said it would continue the probe.



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Crypto Exec Says Expect Tickerless US dollar Stablecoins in the Future
Crypto Trends

Crypto Exec Says Expect Tickerless US dollar Stablecoins in the Future

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Dollar-pegged stablecoins will eventually lose their price tickers, as exchanges abstract away the differently denominated stable tokens on the backend, presenting only a “USD” option to the user, according to Mert Mumtaz, CEO of remote procedure call (RPC) node provider Helius. 

The bidding war for the Hyperliquid USD stablecoin (USDH), and proposals from several firms promising to give 100% of the yield back to Hyperliquid, revealed that the stablecoin sector has become “commoditized,” Mumtaz said. 

Mumtaz added that he expects many companies to issue their own stablecoins and many existing stablecoin issuers to start their own payment chains in the future, which may create liquidity fragmentation, keeping capital trapped within those ecosystems. 

The number of US dollar stablecoin issuers continues to grow. Source: RWA.XYZ

He said that the most optimal solution to get ahead of this liquidity problem is for exchanges to simply accept all stablecoins and convert them to the desired denomination on the backend without the user seeing what is going on. Mumtaz wrote:

“The eventual endgame is that you don’t see the ticker at all. The apps will just display ‘USD’ instead of USDC, USDT, or USDX, and they will swap everything in the backend via a standardized interface.”

Stablecoins are likely to emerge as the de facto standard for fiat currencies in the digital age as the global financial system moves onchain and adopts internet-native systems, further eroding the need to denominate stablecoins from different issuers for end users. 

Related: Inside the Hyperliquid stablecoin race: The companies vying for USDH

Artificial intelligence to increase stablecoin abstraction

Reeve Collins, co-founder of stablecoin firm Tether and blockchain neo-bank WeFi, also told Cointelegraph that he expects the number of stablecoins to proliferate in the coming years, which will be abstracted through AI agents managing portfolios on behalf of users.

Collins said the next generation of stablecoin products, which includes yield-bearing tokens, will be automatically managed through agentic AI, removing “all of the complexity” of dealing with a multitude of different tokens, lowering technical hurdles for the end user.

“The only thing that will drive which token to use is which one makes you the most money, which one is the easiest to use,” Collins added. 

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight



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Crypto Trends

Solana Hits 7-Month High Price as Bitwise Exec Foresees ‘Epic End-of-Year Run’

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In brief

  • Solana is up 4% on Wednesday and hit a seven-month high price of nearly $225.
  • The asset might be primed for a year-end run, according to Bitwise CIO Matt Hougan.
  • Hougan cited demand from pending spot ETFs and digital asset treasuries as potential catalysts.

Solana is getting hot again—and may be primed for an “epic end-of-year run,” according to Bitwise Chief Investment Officer Matt Hougan. 

The sixth-largest crypto asset by market cap is up more than 4% in the last 24 hours to $223, and earlier Wednesday hit $224.95—a mark it hasn’t held since February 1. Solana has risen 25% over the last 30 days, making it the largest gainer among the top 10 assets by market cap.

“For the last 18 months, the recipe for strong returns in crypto has been clear: Take one part exchange traded products (ETP) inflows, add strong corporate treasury purchases, and voilà—you get big returns,” Hougan wrote in his weekly memo. “Solana has the conditions to follow this path.”

“All the ingredients are there for an epic end-of-year run for Solana,” he added.



At least one part of that equation is already underway for Solana. 

Digital asset treasuries centered on Solana have been snatching up SOL all year, with publicly traded firms like Upexi and DeFi Development Corp. having accumulated more than $400 million worth of the asset apiece since the year began. 

An even bigger treasury may be established soon. On Monday, Forward Industries announced a $1.65 billion private investment in public equity (PIPE) raise, with the proceeds planned to build its Solana treasury, enabling it to create the largest publicly traded SOL treasury on the books if it uses just more than 25% of the proceeds. The firm will be led by early Solana investor and Multicoin Capital co-founder, Kyle Samani. 

Solana ETFs might be just around the corner, too. 

Approval decisions are looming from the SEC regarding previously filed spot ETFs from multiple issuers, including Bitwise, Canary Funds, and 21Shares. While approvals are not guaranteed, analysts previously told Decrypt that Solana, XRP, and Dogecoin ETF approvals are “near locks” in 2025. 

While Hougan said that an approved spot ETF and treasury firm accumulation is not a guarantee of success for SOL, the relative size of the asset when compared to Bitcoin and Ethereum means that inflows will have a bigger impact on the price. 

“Scaled for the size of the blockchain, a relatively small amount of flows into Solana could significantly impact prices,” he said. “For instance, Forward Industries’ $1.6 billion purchase of Solana shares would be the equivalent of $33 billion in Bitcoin purchases.”

Predictors on Myriad Markets are coming around on Solana as well, with odds of a new all-time high in 2025 shifting around 23% in favor in the last 2 weeks. Users now give it a 57% chance by the end of the year. (Disclaimer: Myriad is a product of Decrypt’s parent company, DASTAN.)

SOL currently sits around 24% off its January all-time high of $293.31, per CoinGecko.

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