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Crypto
X Money\'s key perk of 6 percent annual interest hit as New York rate drops to 0 percent from October
X Money, a payments service launched by Elon Musk\'s X, will no longer be able to pay interest on stored balances in New York after the state financial regulator set the yield on New York customer accounts at 0.00 percent from Oct. 1. The change removes a benefit X promoted during its U.S. rollout, including a 6 percent annual yield for Premium Plus subscribers, and highlights how state-by-state licensing affects service terms.
Crypto
XRP holders can borrow RLUSD without selling as Flare\'s FXRP enters Ethereum loan collateral
A new route has opened for XRP holders to borrow Ripple’s stablecoin RLUSD without selling their holdings. Flare’s XRP-based asset FXRP was approved as collateral in Centora’s RLUSD main vault, marking the first inclusion of an XRP-based asset in an institution-screened Ethereum lending vault. Users can convert XRP to FXRP on Flare, move it into the Ethereum ecosystem and deposit it on Morpho to borrow RLUSD.
Crypto
Traditional payments industry may embrace bitcoin, ETA CEO says more partnerships likely
The Electronic Transactions Association (ETA) signalled that cooperation between bitcoin companies and traditional payment firms could expand, while saying it does not advocate bitcoin as a specific technology. CEO Jason Oxman said more partnerships could emerge as members recognise bitcoin’s potential, citing BitPay’s admission as ETA’s first virtual asset member. He also pointed to the Bitcoin Foundation’s role in boosting understanding. Oxman urged caution on regulation, including New York’s BitLicense.
