Ripple Partner Scores Major Partnership, Fidelity Files Updated Bitcoin ETF Application, Elon Musk's New Post Triggers Response from XRP and SHIB Fans: Crypto News Digest by U.Today
Read U.Today's top three news stories to learn what's happening in the world of crypto.
Ripple partner Travelex scores major central bank partnership in Asia
According to a recent report, Ripple partner Travelex, the well-known foreign exchange brand, has inked a partnership with the National Bank of Cambodia. Thanks to this partnership, those traveling through Singapore's Changi Airport will now be able to buy and sell Cambodia's national currency, the Khmer riel, for a wide range of currencies, such as the U.S. dollar, the Singaporean dollar, the Australian dollar, the European euro and others. This is the first time the Khmer riel can be traded alongside other currencies in Singapore, signifying a major development for the currency that is gaining international recognition and utility.
Godfrey BenjaminFidelity shakes up market with updated Bitcoin ETF application
In a recent X post, Eric Balchunas, Bloomberg's senior ETF analyst, shared that Fidelity has filed an amended spot Bitcoin ETF S-1 application. This means that the company requested the SEC to allow the issuance of an ETF that tracks the performance of Bitcoin. The move makes a notable development; if such ETFs are approved, this could serve as a major driver for the crypto market. Mainstream and institutional investors would be offered a regulated way to invest in the cryptocurrency without owning the asset directly. The entrance of these huge inflows of capital to the market may trigger a boom in demand, which would lead to driving the price up. This is confirmed by the situation we witnessed this week, when the false rumors about Bitcoin ETF approval pushed the flagship crypto and the broader market to new highs.
Alex DovbnyaElon Musk's new cryptic tweet triggers hot response from XRP and SHIB lovers
The crypto community has once again gathered around a recent X post by tech billionaire Elon Musk. The message that Musk wrote for his multimillion audience is written in his usual cryptic manner and reads "In X S." Many followers of his rushed to the comments section to share their idea of what this message could imply, with members of the SHIB and XRP armies being the most active ones. XRP enthusiasts compared the "X" to the XRP logo, while SHIB fans likened the "S" to SHIB. Vet Kusama, one of the SHIB team members, commented on the post, writing: "In X Shi," with Shi the stablecoin that is currently in development by the project team. Despite the abundance of many different versions, none of them has been confirmed by Musk yet.
Arman Shirinyan
Alex Dovbnya