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ORQO Group launched in Abu Dhabi with $370 million in assets, planning on-chain yield for Ripple’s RLUSD stablecoin, boosting RWA tokenization. Executive Summary ORQO Group has launched in Abu Dhabi, consolidating four traditional finance and crypto firms with $370 million in assets under management. The group intends to provide private credit-backed on-chain yield for Ripple’s RLUSD stablecoin via its yield platform, Soil, operating on the XRP Ledger. This initiative underscores the accelerating institutional adoption of real-world asset (RWA) tokenization and the maturation of decentralized finance (DeFi). The Event in Detail ORQO Group formally commenced operations in Abu Dhabi, integrating four distinct entities spanning traditional finance and crypto asset management. The newly formed group manages $370 million in assets. A primary objective is to offer on-chain yield services for Ripple’s RLUSD stablecoin through its dedicated yield arm, Soil. This platform is designed to operate on the XRP Ledger. ORQO currently possesses operational licenses in Europe and is actively seeking approval from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi to expand its Middle Eastern footprint. The Soil DeFi protocol is developed to be MiCA compliant, aligning with European regulatory standards. Nicholas Motz, CEO of ORQO, stated the launch represents an opportunity to establish a global on-chain asset management presence. Financial Mechanics of RLUSD Yield Soil functions as a blockchain-based lending protocol, designed to bridge the divide between traditional financial markets and the crypto ecosystem by facilitating corporate debt and fixed-income investments. The platform offers fixed Annual Percentage Rates (APRs) ranging from 5% to 8% on RLUSD stablecoins. These yields are generated from underlying assets, including short-term U.S. Treasuries, money market funds (MMFs), crypto hedge fund loans, and private credit strategies. Loans are primarily extended to Small and Medium-sized Enterprises (SMEs), managed by private debt fund managers. Each approved loan is fully collateralized by Real World Assets, reinforced by comprehensive legal documentation such as registered pledges on shares, asset mortgages, and personal guarantees. Soil employs a multi-chain Guarantee Fund, funded by a portion of the protocol’s profits, to mitigate risk and safeguard against potential losses. Ripple has clarified that while RLUSD is not inherently yield-sharing, third-party platforms like Soil are permitted to offer yield, subject to their own regulatory frameworks. Soil operates within a regulated framework, adhering to EU law, and has successfully completed a security audit by Hacken. Business Strategy & Market Positioning ORQO Group's strategy reflects a broader trend of integrating traditional financial instruments, such as private credit, onto blockchain infrastructure. The market for RWA tokenization is experiencing substantial growth, with projections estimating an increase from $185 billion in 2024 to $18.9 trillion by 2033, potentially reaching $30 trillion by 2030 when stablecoins are included. This strategic move aligns ORQO with major financial institutions exploring RWA tokenization, exemplified by initiatives like BlackRock's BUIDL fund. By establishing its operations in Abu Dhabi, ORQO contributes to positioning the emirate as a key global hub for institutional crypto and RWA activities. The Soil platform's XRPL-native design aims to provide institutional-grade access to real-world yield within the XRP Ledger ecosystem, positioning it as a compliant yield protocol on XRPL. This approach also leverages XRPL’s built-in transaction logic, cited for its security advantages over traditional EVM smart contracts. Broader Market Implications The launch of ORQO Group and its plans for RLUSD yield platforms could catalyze significant capital influx into tokenized real-world assets. This development is anticipated to bolster Abu Dhabi's standing as a leading jurisdiction for crypto and Web3 innovation. Furthermore, the initiative is poised to enhance the utility and adoption of both the XRP Ledger and the RLUSD stablecoin, fostering broader institutional engagement in DeFi and RWA tokenization. The structured approach to yield generation, backed by tangible assets and regulatory compliance, may serve as a model for future institutional ventures in the digital asset space, increasing overall market confidence and attracting new participants to the ecosystem.
A group of Senate Democrats introduced a seven-pillar framework for U.S. crypto market regulation, aiming to establish clear rules and consumer protections through bipartisan legislative efforts. Executive Summary Twelve Senate Democrats have released a comprehensive seven-pillar framework detailing their conditions for supporting a digital-asset market-structure bill in the United States. This initiative signals a willingness by the Democratic party to engage in bipartisan negotiations with Republicans to establish a durable regulatory framework for the nearly $4 trillion global crypto market. The proposal emphasizes investor protections, closing regulatory gaps, and curbing potential illicit finance activities, aiming to reduce future regulatory uncertainty and foster innovation. The Event in Detail The framework, introduced on Tuesday, outlines a detailed approach to regulating U.S. crypto markets. It proposes granting the Commodity Futures Trading Commission (CFTC) new powers over spot markets for non-security tokens, while establishing a clear process to determine if a digital asset falls under the Securities and Exchange Commission (SEC)’s jurisdiction as a security. This aims to provide jurisdictional clarity for the sector. The framework also mandates disclosure requirements for token issuers and calls for crypto-specific rulemaking for exchanges and custody providers. Strict anti-manipulation and consumer protection standards are central to the proposal. Additionally, all digital asset platforms serving U.S. users would be required to register with FinCEN as financial institutions, subjecting them to Bank Secrecy Act (BSA), Anti-Money Laundering (AML) rules, and sanctions enforcement. Decentralized Finance (DeFi) is identified as a key vector for illicit finance, with the framework calling for new oversight tools to prevent its misuse. It also seeks to prohibit interest or yield paid by stablecoin issuers, whether directly or indirectly. A politically charged section targets ethics, barring elected officials and their families from launching or profiting from crypto projects while in office, and mandating disclosure of their digital asset holdings. The Democrats called for increased funding for financial regulators and a guarantee of bipartisan representation in their rulemaking processes. Market Implications The introduction of this framework could lead to more predictable regulation for the crypto industry in the U.S., potentially fostering innovation and institutional adoption. The bipartisan effort suggests a path towards regulatory clarity, which could mitigate the current state of market uncertainty. However, failure to reach a consensus between the Democratic and Republican proposals could prolong regulatory ambiguity, hindering further growth and investment within the Web3 ecosystem. Expert Commentary In their proposal, the senators stated: > "Digital asset technology has the potential to unlock new businesses and spur American innovation. But questions about digital assets place in the U.S. regulatory framework have hobbled both innovation and consumer protection." This sentiment underscores the legislative intent to address the regulatory void that has constrained both innovation and consumer safeguards. Regarding the ethics provisions, Democrats have alleged, as per their framework, that certain actions by elected officials have undermined confidence in the broader digital asset industry, emphasizing the need for robust ethics rules. Broader Context The Democrats’ framework sets the stage for negotiations with Republicans, who have also introduced their own market structure bill drafts. The bipartisan approach is deemed essential for any legislation to advance through Congress. The objective is to create "clear rules of the road that protect consumers and safeguard our markets" and to ensure that digital assets are not exploited for illicit activities or personal gain by public officials. The overarching goal is to define how cryptocurrencies fit into current or future regulatory frameworks, thereby solidifying the U.S. position in the evolving global digital asset landscape.
Indian Union Minister Jayant Chaudhary's continued crypto investment disclosures highlight India's ongoing regulatory paralysis in digital assets, fostering uncertainty despite high domestic adoption and talent potential. Executive Summary Indian Union Minister Jayant Chaudhary has disclosed a 19% increase in his cryptocurrency investments, reaching $25,500. This marks the second consecutive year a cabinet member has revealed digital asset holdings, occurring amidst a persistent regulatory vacuum in India's digital asset sector. This regulatory inertia continues to undermine India's potential global leadership in the digital asset space, creating an environment of uncertainty for investors and businesses. The Regulatory Landscape in Detail The Reserve Bank of India (RBI) maintains a position against comprehensive crypto legislation, citing concerns that formal regulation would grant cryptocurrencies "legitimacy" and potentially elevate the sector to a systemic risk. The RBI also fears that widespread stablecoin adoption could fragment the nation's robust Unified Payment Interface (UPI) system. Despite these concerns, a government document acknowledges that the current $4.5 billion invested in cryptocurrencies by Indians does not pose a systemic risk to financial stability due to limited regulatory clarity. However, this lack of clear regulation has led to what industry leaders describe as an "ownership crisis" within the bureaucracy, hindering the development of a cohesive regulatory framework. Adding to the pressure, the Supreme Court of India has expressed strong dissatisfaction with the federal government's delay in establishing a regulatory framework, warning that this legislative vacuum has enabled widespread abuse and financial misconduct. The court previously called for a definitive policy direction on digital currencies, emphasizing the urgent need for regulation given the growing importance of digital assets in global finance. Investor Sentiment and Taxation A recent survey by Mudrex, a prominent Indian crypto investment platform, involving over 9,000 participants, reveals significant public demand for regulatory clarity. The survey found that 93% of respondents support crypto regulation, with 56% advocating for a full framework including investor protection. However, 84% of participants believe the current 30% tax on crypto gains is unfair compared to other asset classes, with 66% identifying it as the biggest deterrent to investment. Other significant concerns include the inability to offset losses and issues related to 1% TDS (Tax Deducted at Source). Nearly 90% of investors indicated they would increase their investments if government policies became clearer, highlighting the direct link between policy and capital flow. Market Implications and Talent Flight The prolonged regulatory paralysis carries substantial economic implications. Estimates suggest India could realize annual savings of $68 billion by integrating stablecoins into international payment flows, an opportunity currently unmet due to policy inaction. The lack of regulatory certainty has also accelerated a "brain drain," with an estimated 80-85% of India's top crypto talent relocating internationally. This exodus, coupled with a cautious market sentiment, deters foreign investment and innovation within India's crypto sector. Experts emphasize that clear regulation and tax clarity are crucial to prevent further capital flight and to cement India's position as a leading fintech hub. Global Context and Future Outlook Globally, other major economies are actively developing comprehensive regulatory frameworks for digital assets. The United States has enacted the GENIUS Act, which provides a framework for "payment stablecoins," mandating 1:1 backing and prohibiting interest payments on holdings. Similarly, the European Union's MiCA regulation has progressively rolled out, with stablecoin provisions already in effect. These international advancements underscore India's increasingly isolated regulatory stance. Projections from institutions such as J.P. Morgan Global Research anticipate the global stablecoin market reaching $500-$750 billion, with ambitious forecasts suggesting issuance could hit $10 trillion by 2028. Despite India leading the Chainalysis global crypto adoption index for three consecutive years, its internal regulatory challenges impede its ability to fully capitalize on this burgeoning global digital finance landscape.
Prediction market aggregators are emerging as key players, driven by information overload and the need for streamlined trading across platforms. Executive Summary Prediction market aggregators are gaining traction as traders navigate a growing number of platforms and prediction themes. These aggregators aim to consolidate information and simplify the trading process, potentially evolving into comprehensive "super portals." The rise of aggregators addresses the challenge of information overload and the need for efficient comparison of odds across platforms like Polymarket, Kalshi, and Limitless. The Event in Detail The prediction market landscape is becoming increasingly fragmented, with numerous platforms hosting diverse prediction themes. This fragmentation presents challenges for traders who need to track and compare odds across multiple platforms. Aggregators like monitorthesituation.lol, Verso Trading, and Aerospace are emerging to address this challenge by consolidating information and streamlining trading processes. Daily trading volume in prediction markets has reached $270 million, with Kalshi accounting for 80% of this volume. Market Implications The emergence of prediction market aggregators could reshape the ecosystem, potentially leading to the development of "super portals" offering their own markets and advanced financial tools. Kalshi's integration of Solana (SOL) marks a significant step, bridging traditional finance and decentralized ecosystems by enabling on-chain settlement of bets using SOL. This integration has expanded Solana's utility beyond decentralized exchanges and meme coins into event-driven financial products, evidenced by the $4.6 billion daily DEX volume observed in 2025. Kalshi reported monthly trading volumes of $13 million in early 2025, peaking at $26 million in October 2024. Expert Commentary > "The strategic interest of crypto VCs in these platforms reflects a broader thesis: crypto VCs view prediction markets as a ‘stress test’ for decentralized finance’s ability to price uncertainty." Broader Context Institutional capital is increasingly flowing into prediction market platforms like Kalshi and Polymarket, driven by regulatory clarity, strategic partnerships, and the growing recognition of speculative efficiency in decentralized ecosystems. Kalshi's recent $185 million Series C funding round, led by Paradigm and Sequoia, underscores its position as a regulated, institutional-grade prediction market. Polymarket's reentry into the U.S. market, facilitated by its acquisition of QCX, signals maturation, with trading volume reaching $6 billion in the first half of 2025. Verso is a prediction market terminal that puts real-time Kalshi odds, depth, and alerts on a single institutional screen. In July, the cumulative trading volume on Polymarket surpassed $1 billion. Just over a month later, it stands at $1.75 billion, per The Block data. Growth has accelerated this year, driven by the US presidential election, despite Polymarket forbidding Americans from using the platform.
Ripple USD (“RLUSD”), issued by Standard Custody & Trust Company, LLC, a wholly owned subsidiary of Ripple Labs, is a USD denominated stablecoin created with trust, liquidity, and compliance at its core. Each RLUSD is backed by at least an equivalent amount of U.S. dollars and other cash equivalents. RLUSD is purpose-built for cross-border payments and delivers reliable access to digital dollars.
As an industry leader for over a decade, Ripple has a proven track record of delivering breakthrough blockchain solutions at scale. Strong ecosystem relationships built over a decade facilitates RLUSD’s broad accessibility for use by financial institutions, enterprises and developers. Ripple’s commitment to regulatory compliance, combined with its global license portfolio, enables RLUSD users to transact with confidence.
RLUSD delivers the reliability of USD combined with the efficiencies of blockchain technology in a trusted, liquid, and compliant manner. (Data from Coingecko)
Ripple USD (RLUSD) current price is 0, down 0% today.
Ripple USD (RLUSD) daily trading volume is $129.6M
Ripple USD (RLUSD) current market cap is $729.8M
Ripple USD (RLUSD) current circulating supply is 729.9M
Ripple USD (RLUSD) fully diluted market cap (FDV) is $729.8M