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According to The Block, a joint letter initiated by Stand With Crypto, the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber has been submitted to U.S. Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging a prompt full Senate vote on the Digital Asset Market Clarity Act (referred to as the CLARITY Act). More than 200 crypto companies, industry associations, and community organizations, including Coinbase, Ripple, Kraken, a16z, Circle, and Binance.US, participated in signing.The joint letter points out that the CLARITY Act will establish a comprehensive federal regulatory framework for the digital asset market, clarify the division of responsibilities among regulatory agencies, provide feasible registration pathways, and protect software developers' innovation while encouraging more digital asset businesses to return to the U.S. market. The signatories stated that the act would help keep innovation, jobs, investment, and market activities in the U.S., further solidifying the country's leading position in global digital asset innovation.It is understood that the CLARITY Act received bipartisan support from the Senate Banking Committee last month and passed the committee's review. Senator Cynthia Lummis subsequently stated that the next step for the act will be to enter the full Senate review stage.Additionally, 160 former national security and law enforcement officials had previously signed in support of the act, and U.S. Treasury Secretary Scott Bessent and White House crypto advisor Patrick Witt have also publicly called for advancing the legislative process. However, the issue of the Trump family's interests in relation to the crypto industry is still seen as one of the main obstacles facing the advancement of the act.

According to Cointelegraph, Ripple announced the official introduction of its USD-backed stablecoin RLUSD into the Turkish market through partnerships with three local institutions: BiLira, Bitexen, and Bitlo. Turkish institutional users will thus gain access to enterprise-level USD liquidity support.

According to CoinDesk, Ripple is leading a financing plan of at least $1 billion, intending to establish a publicly traded treasury company focused on holding XRP through a special purpose acquisition company (SPAC).The report states that this entity will use the raised funds to continuously increase its holdings of XRP, and Ripple is also expected to inject some of its own XRP holdings into the treasury. The terms of the related transaction are still under discussion, and the final plan may be adjusted.If successfully implemented, this will become the largest known XRP treasury plan to date. Market analysts believe that this move will test institutional investors' acceptance of the XRP treasury model and whether the digital asset treasury company model can expand from Bitcoin to other mainstream crypto assets.Currently, the market capitalization of XRP is approximately $138 billion, making it one of the top-ranking crypto assets globally. Since the beginning of this year, XRP has seen a cumulative increase of about 13%.It is worth noting that as the crypto market has recently experienced increased volatility, the stock prices of some digital asset treasury companies have come under pressure, and the market has begun to pay attention to whether similar models are facing demand saturation. However, if this plan is ultimately implemented, it may bring a new source of institutional buying for XRP and further strengthen its narrative in the capital markets.

The Digital Chamber, a cryptocurrency industry organization, responded to Senator Elizabeth Warren's concerns regarding the recent approval of national trust charters by the OCC, stating that her claims about cryptocurrency companies being "improperly approved" are unfounded.Previously, Warren wrote to the Office of the Comptroller of the Currency (OCC), stating that the recent approvals granted to digital asset companies such as Ripple, Circle, Paxos, Fidelity, BitGo, and Coinbase may violate the National Bank Act and have not adhered to the same regulatory standards as traditional banks.The Digital Chamber stated that the OCC has the authority to grant national trust charters to qualified institutions, and that these arrangements do not equate to a relaxation of regulation. The organization represents over 250 cryptocurrency-related entities and believes that these charters help to integrate digital asset services into a clearer federal regulatory framework.

According to Decrypt, the Digital Chamber has written to OCC Director Jonathan Gould, urging him to stick to the decision to grant national trust bank charters to crypto companies like Coinbase, Ripple, and Circle.Previously, Senator Elizabeth Warren accused the approval of these charters of violating the National Bank Act and posing a threat to the safety of the U.S. banking system. The Digital Chamber countered that Congress has effectively authorized the OCC to extend bank charters to stablecoin businesses through the GENIUS Act, and that the approved companies do not accept FDIC-insured deposits, thus not constituting traditional banking operations.

The cross-chain infrastructure platform Squid has completed a $6 million strategic financing round, led by North Island Ventures, with participation from Ripple, Dialectic, Borderless, and others.It is reported that Squid was initially incubated within the Axelar ecosystem and later developed into an independent platform. Since its launch in 2023, Squid claims to have processed over $6 billion in cross-chain transaction volume, covering more than 100 blockchains, with a total of over 4 million transactions and more than 1 million users. After this round of financing, Squid's total funding amount has reached $13.5 million. The company plans to use the new funds to launch new consumer-facing products, further simplifying the process for users to access, manage, and use crypto assets across chains.

On May 18, U.S. Senator Elizabeth Warren wrote to the Office of the Comptroller of the Currency (OCC) stating that the agency has improperly granted national trust charters to at least nine cryptocurrency companies since December 2025. Elizabeth Warren pointed out that the businesses these companies plan to engage in exceed the limited functions allowed by law for national trust banks, essentially attempting to circumvent the fundamental protections and obligations of banking through crypto banking. It is reported that the companies that have received or conditionally approved include Ripple, Circle, Paxos, Fidelity, BitGo, Coinbase, Stripe's subsidiary Bridge, and Crypto.com. The American Bankers Association urged the OCC in February to slow down the approval of related licenses, and Elizabeth Warren warned that this move would weaken consumer protections and pose regulatory arbitrage risks.

Data shows that the five spot XRP ETFs listed in the U.S. recorded a total net inflow of $25.8 million on Monday, setting a record for the largest single-day fund inflow since January 5, 2026, with a cumulative net inflow now reaching $1.35 billion. Among them, Franklin Templeton's XRPZ saw an inflow of $13.6 million, Bitwise XRP ETF saw an inflow of $7.6 million, and Grayscale GXRP saw an inflow of $4.6 million.Reports indicate that this round of fund inflows is related to several recent developments by Ripple. Ripple recently announced the completion of a $200 million debt financing to expand its institutional brokerage platform, Ripple Prime. Additionally, last week, Ripple, in collaboration with JPMorgan Chase, Mastercard, and Ondo Finance, completed a tokenized settlement test for U.S. Treasury bonds on the XRP Ledger, with the redemption process taking less than 5 seconds. Meanwhile, Ripple also announced a "four-phase roadmap," planning to achieve a "quantum-resistant" upgrade for the XRP Ledger by 2028, including an emergency mechanism to recover funds through zero-knowledge proofs in extreme situations.Market analysis suggests that as the application of XRP increases in cross-border payments, institutional settlements, and tokenized assets, its ETF demand is gradually shifting from pure speculation to an infrastructure narrative. Despite the continuous inflow of ETF funds, the price of XRP has still fallen by about 39% over the past six months, with the current price around $1.47, significantly down from its historical high of about $3.65 in July 2025.

According to Businesswire, the NYSE-listed closed-end fund C1 Fund (CFND) announced its financial report for the fourth quarter and the full year of 2025, indicating that its private investment strategy in digital assets continues to expand, with the portfolio advancing in sync with liquidity events.As of now, its digital asset infrastructure investment portfolio includes Alchemy, Blockchain.com, Chainalysis, Consensys, Figment, Kraken, and Ripple, among others. This year, it has made additional investments exceeding $10.47 million in projects such as BitGo, Fireblocks, and Polymarket (Blockratize Inc.), and has completed additional allocations in holdings like Ripple.

According to Bloomberg, Ripple's main brokerage division has secured a maximum of $200 million in asset-backed debt financing from Neuberger Berman to expand its collateral financing services offered to institutional investors.The report states that the financing is provided by Neuberger Berman's specialized finance division, and Ripple can draw up to $200 million in phases based on the borrowing needs of institutional clients in the equity, fixed income, and cryptocurrency markets.

According to market news, since December 2025, more than 12 cryptocurrency and fintech companies have applied for or obtained national trust bank licenses from the Office of the Comptroller of the Currency (OCC), including Coinbase, Ripple, Circle, BitGo, as well as Morgan Stanley and Fidelity Digital Assets.Kraken's parent company Payward has also submitted an application to establish Payward National Trust Company, which will provide bank-grade cryptocurrency custody and trust services for institutional and individual clients. The OCC's auditor stated that new entrants into the federal banking sector are beneficial for consumers, the banking industry, and the economy, and the OCC will continue to provide pathways for traditional and innovative financial services. The national trust bank license allows companies to manage assets under a single federal regulation, reducing reliance on external banking partners. However, most companies are still in the conditional approval stage, with only Anchorage Digital Bank being the sole fully operational national trust bank.Another major unresolved issue is access to the Federal Reserve's payment infrastructure. Federal Reserve governors have indicated they are exploring ways to simplify account structures, but no formal framework has been established yet.

According to Bits.media, the Moscow Exchange announced that it will launch new settlement futures trading for three digital asset indices: Solana, Ripple, and Tron, starting on May 14, limited to qualified investors.These instruments are settled in Russian rubles and do not involve physical delivery of digital assets. The quotation unit for Solana index futures is in US dollars, with a minimum price fluctuation and fluctuation value of 0.01 dollars; the minimum price fluctuation for Ripple and Tron index futures is 0.0001 dollars, with a fluctuation value of 0.01 dollars. The contract duration is one month, with the last trading day being the last Friday of each month. Contracts expiring in June, July, and August will be available starting May 14. Additionally, the Moscow Exchange will begin calculating and publishing indices for four cryptocurrencies: Solana, Ripple, Tron, and BNB on May 13.

Ripple, JPMorgan, Mastercard, and Ondo Finance jointly completed a cross-border settlement pilot for tokenized U.S. Treasury funds.The transaction was executed on the XRP Ledger: first, Ondo completed the redemption of its tokenized U.S. Treasury product OUSG on-chain, then the instruction was transmitted through the Mastercard network and JPMorgan's blockchain payment system, and finally, JPMorgan completed the U.S. dollar settlement to Ripple's Singapore account. The project team stated that this pilot achieved real-time collaboration between blockchain and the traditional banking system, marking the beginning of tokenized assets integrating into the global financial infrastructure.

According to the official blog of Ondo Finance, Ondo Finance (Ondo) has completed its first near-real-time tokenized U.S. Treasury fund cross-border interbank exchange in collaboration with Kinexys by J.P. Morgan, Mastercard, and Ripple.In this pilot project, Ripple exchanged its Ondo short-term U.S. government bonds (OUSG) held on the XRP Ledger. After processing the exchange, Ondo sent fiat payment instructions via the Mastercard Multi-Token Network, with the settlement of funds executed by the blockchain infrastructure of Kinexys by J.P. Morgan, and the U.S. dollar funds delivered to Ripple's bank account in Singapore through its correspondent banking network.This project demonstrates the feasibility of public blockchain infrastructure working in conjunction with interbank settlement systems, establishing a framework for global banks to utilize tokenized assets for 24/7 real-time cross-border settlements.

Ripple CEO Brad Garlinghouse stated that the next two weeks will be a critical window for advancing cryptocurrency legislation in the United States.He pointed out that if the Senate Banking Committee fails to complete the bill review in the near term, the probability of the bill passing will "significantly decrease," especially with the midterm elections approaching, as related issues may become further politicized. Currently, the U.S. is pushing for the first federal-level cryptocurrency regulatory framework, involving the regulatory division of responsibilities between the SEC and the CFTC. Although the House version has passed, progress in the Senate has been relatively slow, but recent compromises around stablecoin yield issues may bring a turning point for advancement this month.

According to ETHNews, Ripple Prime has joined the tokenization pilot working group of the Depository Trust & Clearing Corporation (DTCC) in the United States, with participating institutions including BlackRock, JPMorgan, HSBC, Anchorage Digital, Bank of America, BitGo Bank, and others.The report states that the working group aims to promote the infrastructure and industry standards related to tokenized securities, covering various market roles such as custodians, asset management companies, brokers, trading venues, application providers, and back-office service providers.DTCC previously stated that it plans to initiate limited production trading of tokenized assets in July 2026 and to fully commercialize related services in October 2026. This plan will support tokenization services for major index ETFs, Russell 1000 index constituents, and U.S. Treasury securities, among other assets.

According to CoinDesk, Ripple announced on Monday that it will share its internal intelligence on North Korean hackers with the cryptocurrency industry threat intelligence sharing organization Crypto ISAC to help businesses identify coordinated infiltration actions.This move comes against the backdrop of a recent shift in attack patterns faced by the cryptocurrency industry. Ripple stated, "The strongest crypto security posture is a shared posture. A threat actor who has not passed a background check at one company may submit resumes to three other companies in the same week. Without shared intelligence, each company starts from scratch."

According to Crowdfund Insider, Ripple and the digital asset trading platform Bullish announced an expansion of their long-term partnership, with Bullish's Bitcoin options market opening to Ripple Prime institutional clients.According to the announcement from both parties, this integration will allow Ripple Prime users to directly access Bullish's regulated BTC options market. Bullish stated that its platform is currently the second largest cryptocurrency settlement Bitcoin options market in the world by open interest and supports spot, perpetual contracts, and futures trading.In addition, both parties revealed that OKX has reached a strategic partnership with Ripple to introduce the stablecoin RLUSD (Ripple USD) in the compliant market. Ripple Prime, as one of the largest non-bank prime brokers globally, has exceeded a clearing scale of $30 trillion in 2025 and can provide multi-asset brokerage, clearing, and financing services.

According to Techfundingnews, the artificial intelligence application platform Certifyde announced the completion of a $2 million seed round financing, with participation from angel investors including K5 Global, Flamingo Capital, co-founder of Honey George Ruan, Ripple CEO Brad Garlinghouse, and co-founder of Nutra Roland Peralta.