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Crypto

Standard Chartered considers folding parts of Zodia Custody business into investment bank

Standard Chartered is reviewing a plan to bring parts of Zodia Custody, a crypto custodian in which it holds a majority stake, into its investment banking unit. The bank is considering moving Zodia’s custody business into an in-house team that provides related services within its corporate and investment bank, while leaving Zodia to operate independently as a software-as-a-service platform for digital asset custody. A restructuring announcement could come this month.

Crypto

Ripple CEO says stablecoins will bring crypto \'ChatGPT moment\'

Ripple CEO Brad Garlinghouse (브래드 갈링하우스) says stablecoins will become crypto’s “ChatGPT moment” as companies look for faster and more efficient payments. He says Fortune 500 and other global firms are discussing stablecoin use with finance chiefs. Bloomberg Intelligence forecasts stablecoin transaction volume will rise 80 percent a year to $56.6 trillion by 2030. The market is led by Tether and Circle, while Ripple has launched RLUSD.

Crypto

Ripple\'s \'power move\': $750 million share buyback lifts valuation to $50 billion; focus on XRP

Ripple is pushing ahead with a $750 million share buyback, lifting its valuation to $50 billion as the broader crypto market remains weak. Blockchain outlet The Crypto Basic reported that veteran investor Pompious called the move the “ultimate power move” and a positive signal for XRP investors. Ripple recently unlocked 1 billion XRP from escrow and moved 200 million XRP worth about $280 million, prompting some concern about further selling. The effect on XRP prices remains unclear.