Ripple expands EU regulatory footprint with Luxembourg EMI approval
Ripple has scored its second major regulatory win in just weeks, securing preliminary approval for an EMI license.
- License win. Ripple has secured preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg’s regulator.
The San Francisco-based enterprise blockchain behemoth has secured preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg's financial regulator, the CSSF (Commission de Surveillance du Secteur Financier).
It comes just one week after Ripple secured a full EMI license and Cryptoasset Registration from the UK’s Financial Conduct Authority (FCA). Ripple has now locked down both the UK, one of the world's leading economies, and Luxembourg, a premier EU gateway, in rapid succession.
- Key gateways. By locking down both the UK and Luxembourg, Ripple strengthens its position across key European financial gateways.
Luxembourg is just a small nation with a population of roughly 677,717. However, its influence should not be underestimated, given that it is the financial heart of the Eurozone for corporate treasury and banking. An EMI license in Luxembourg is particularly powerful because it typically allows for "passporting." Ripple now holds over 75 regulatory licenses globally.
Bitwise launches Chainlink ETF to expand crypto investment access
Bitwise’s LINK ETF finally goes live with the ticker $CLNK.
- Chainlink ETF. Crypto asset manager Bitwise has officially launched its Chainlink exchange-traded product.
Renowned crypto investment firm, Bitwise, has continued to expand its offerings to provide users with multiple investment opportunities while helping maximize crypto yields. While it has continued to expand its growing list of ETF offerings, Bitwise has now officially launched its Chainlink ETF, $CLNK.
Bitwise took to X to disclose the launch of its new exchange-traded product (ETP), dubbed $CLNK, designed to give investors spot exposure to Chainlink.
Following the launch of the new ETF product, Bitwise is making efforts to make cryptocurrencies more accessible to traditional investors.
- Bullish move. Bitwise highlighted Chainlink’s role as a leading oracle platform that connects blockchains with real-world data.
While the firm recognizes Chainlink’s position as a leading oracle platform connecting blockchains to real-world data, it has added it to its investment options to better serve its users.
With Chainlink’s oracle network, the asset can support a wide range of applications, including tokenization, decentralized finance (DeFi), prediction markets, and real-world asset settlement, enabling smart contracts to interact with off-chain data securely.
Shiba Inu nears bullish golden cross as momentum builds
Meme coin Shiba Inu is cooking up a 22% breakout move that could help it leapfrog Litecoin and three other top coins.
- SHIB price. A golden cross is forming between the 23-day and 50-day MA.
Shiba Inu (SHIB) retains its status as the biggest meme coin on Ethereum, and it is approaching one of its most bullish setups in months. Long story short, a golden cross is forming between the 23-day and 50-day moving averages on the price chart by TradingView.
The target? This one aligns with the 200-day moving average of $0.00001046, representing a 22% increase from current levels. However, this chart pattern could have an even greater impact besides an upside unlock. It could also propel SHIB up the market cap rankings.
Currently valued at $5.13 billion, Shiba Inu is within $100-$200 million of overtaking Canton, Hedera and Dai. Should the full golden cross potential play out, Litecoin, with a valuation of $6.05 billion, could be overtaken as well.
- Bullish setup. SHIB has reclaimed its 50-day moving average for the first time since late November.
As previously reported, market flows have already begun shifting into meme coins from other segments, providing this particular asset class with an unusual advantage in January.
What makes this move stand out is the accomplishment of Shiba Inu’s price structure with moving averages. SHIB has reclaimed its 50-day price curve for the first time since late November, and this recovery is unfolding just below a long-term resistance.
U.Today Editorial Team
Dan Burgin
