Five Crypto Firms Win Initial Approvals as Trust Banks, Including Ripple, Circle, BitGo

Circle has announced its acquisition of the Interop Labs team and intellectual property, a strategic move aimed at enhancing its crosschain infrastructure and support for multichain applications. This acquisition comes as Axelar remains an independent entity, focusing on its own developments in the cryptocurrency space.

XRP has transitioned from being viewed as a speculative cryptocurrency to a recognized digital asset in regulated markets, reflecting increased legal clarity and institutional interest. This shift is underscored by recent developments from the US Commodity Futures Trading Commission (CFTC) and growing demand for compliant blockchain solutions.

Ripple has emerged victorious in its legal battle with the US Securities and Exchange Commission (SEC), with XRP being classified as a non-security. This resolution has shifted the focus from regulatory concerns to Ripple's broader achievements in the cryptocurrency landscape.

Ripple's RLUSD stablecoin has transitioned to Layer 2 networks, marking a significant step as the company accelerates its bullish momentum in regulated on-chain finance. This move follows recent regulatory approvals that enhance the stablecoin's operational framework, particularly in the UAE and the Abu Dhabi Global Market.

XRP has remained stagnant around the $2.00 mark despite significant institutional developments, including Ripple's $300 million venture fund expansion into South Korea and nearly $1 billion in spot ETF inflows. This lack of price movement suggests a disconnect between positive news and market behavior, as XRP's price trends downward on the daily chart.

Ripple has announced plans to launch its RLUSD stablecoin on the Base and Optimism networks via the Wormhole bridge, with an expected rollout in 2026. This expansion aims to enhance the accessibility and utility of RLUSD in various decentralized finance ecosystems.

The UAE is emerging as a significant hub for cryptocurrency as Coinbase and Ripple align their strategies to capitalize on the region's growing market. This collaboration signals a shift in market gravity towards the Gulf, highlighting the UAE's commitment to becoming a global leader in digital finance.

XRP price has been in a prolonged bear market, losing significant value over recent months, but recent developments indicate a potential shift as bullish patterns begin to form. The token is currently trading around $2.00, with technical indicators suggesting a possible breakout as it consolidates into a triangle pattern.