In this episode of the Coin Street headlines, we dive into the latest headlines shaping the cryptocurrency and fintech landscape. Franklin Templeton has launched an exchange-traded fund (ETF) tracking the XRP token on NYSE Arca, trading under the ticker XRPZ. This debut coincides with the launch of the Grayscale XRP Trust ETF and follows similar offerings from Bitwise Asset Management and Canary Capital. XRP saw an impressive 8% increase in value yesterday. In Japan, the Financial Services Agency (FSA) is implementing new regulations requiring cryptocurrency exchanges to maintain liability reserves to protect against hacks and unforeseen events. This move aims to enhance user compensation methods in the wake of recent security breaches. Revolut, the fintech giant, has completed a share sale valuing the company at $75 billion, solidifying its position among the world’s most valuable fintechs. This marks the fifth liquidity event for employees through its share program. Lastly, Mike Novogratz’s Galaxy Digital is in talks with Polymarket and Kalshi to become a liquidity provider, enhancing market-making on their platforms to improve trading reliability. Jane King with the latest from the NYSE.
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Asset management company Franklin Templeton launched an exchange traded fund tracking the XRP token on the NRA.
It's trading under the ticker XRPZ, providing investors with access to the cryptocurrency.
Its trading debut coincided with the launch of the grayscale XRP Trust ETF and followed similar offerings from Bitwise, Asset Management, and Canary Capital.
SRP jumped 8% yesterday, but the Financial Services Agency in Japan will reportedly require cryptocurrency exchanges to maintain liability reserves as part of measures to guard against hacks or unforeseen events.
According to a Nikkei report, Japan's FSA will revise its requirements for local companies to include methods for quickly compensating users harmed by security breaches or other causes.
The financial watchdog.
Cited recent hacks of global exchanges as part of the reason behind this change.
FinTech company Revolut has completed a share sale that values the company at $75 billion placing it among the world's most valuable FinTechs.
The company said that employees were able to sell shares as part of the deal, marking the 5th time Revolut has offered staff a liquidity event through its employee share program, and Mike Novogratz says Galaxy Digital is in discussions with Pauline Market and. about becoming a liquidity provider on their platforms.
Galaxy Digital would serve as a market maker on the exchanges, offering regular trades to improve liquidity on the platforms, according to Novograds.
Prediction market exchanges have focused on attracting market makers to ensure customers have a reliable partner to trade against, with some exchanges running internal market makers to meet demand, and that is the latest Coin Street headlines.