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Ripple signs RLUSD deals with Robinhood and BNY a day after its bank charter win

Coins mentionedXRP——

Ripple used its Swell event on Oct. 27 to announce that Robinhood will bring the RLUSD stablecoin to its retail app later this year, use it on the XRP Ledger for institutional settlement and adopt Ripple Treasury for cash management. BNY's digital asset custody platform now holds XRP and RLUSD, and the two plan to let bank clients mint and redeem the token directly. RLUSD's market value is about $2.57 billion. Source: Cointelegraph

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Bessent says Treasury will work through SEC and CFTC after CLARITY Act stalls

Treasury Secretary Scott Bessent told Ripple's Swell conference in New York on Oct. 27 that Congress's failure to pass the CLARITY Act was a disappointment, but that Treasury can push crypto oversight forward with the SEC and CFTC through agency action. He grouped digital assets with AI and chips in the technology race with China and noted that more than 90% of stablecoins are tied to the dollar and often backed by Treasuries. Rules made by agencies would not carry the durability of a statute. Source: CoinDesk

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