Although some Ripple executives initially suggested that RLUSD might be limited to institutional use, the stablecoin is gaining traction in retail. Update (July 25, 12:10 pm UTC): This article has been updated to correct information related to Ethereum-issued RLUSD and rectify previous information about EVM sidechain-issued RLUSD. Ripple USD, a stablecoin issued by XRP coin issuer Ripple, was initially marketed as an “enterprise-focused” stablecoin but has since gained traction among retail users. Ripple officially introduced its Ripple USD (RLUSD) stablecoin in late 2024, with CEO Brad Garlinghouse highlighting its institutional focus, setting RLUSD apart from competitors primarily focused on retail use. Read more
OSL said its latest milestone reflects “strong recognition” of its digital asset business model. Digital asset platform OSL Group has secured $300 million in equity financing, marking the largest publicly disclosed equity raise in Asia’s crypto sector to date. On Friday, the company announced that it will deploy the funds in three growth areas: acquisitions, global business initiatives like payments and stablecoin infrastructure and boosting its working capital. The raise is part of OSL’s broader strategy to expand its international presence. OSL described the raise as a “milestone” for the company that signals market recognition of its long-term trajectory and crypto business model. Read more
Romanian company IT Genetics, part of ITG Group- which provides integrated solutions of digitalization and automation for companies active in the retail, logistics, manufacturing sectors and other industries- ended 2024 with a turnover of EUR19.3 million, higher than EUR14.2 million reported in 2023 and EUR11.9 million reported in 2022, company representatives said in a statement.