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Crypto

XRP, once criticised as \'finance coin\', sees institution-focused strategy reappraised

Ripple CEO Brad Garlinghouse agreed publicly that XRP was once criticised as a coin for the financial sector but that the wider crypto industry is now pursuing the same approach. Comments by Flare co-founder Hugo Philion argued that Ripple’s focus on banks and payment providers was initially mocked but has since been adopted across blockchain projects. XRP supporters and lawyer Bill Morgan also weighed in, highlighting repeated criticism of Ripple’s XRP holdings and sales.

Crypto

Digital Asset raises $355 million led by a16z at $2 billion valuation

Digital Asset Holdings raised $355 million at a valuation of about $2 billion. The funding round was led by a16z Crypto, which invested $100 million, with participation from 7RIDGE, Abu Dhabi Investment Authority, Citadel Securities and Optiver. Digital Asset plans to use the proceeds to expand the Canton Network, which supports financial institutions in tokenising and settling securities without disclosing sensitive commercial data.

AI & Enterprise

AI startups need markets, not technology; government should be first customer

Industry participants at the AXIS 2026 conference in Seoul said AI startups lack markets and first customers rather than ideas or technology, and urged the government to play an early-market role. Korea Startup Forum Chairman Jae-won Kim (김재원) said Korea has the layers needed for an AI powerhouse but needs the government to act as a customer. Companies cited public demand, regulation and domains such as defence and disaster response. Officials and lawmakers voiced support for first-use and purchase projects.