Ubyx Secures $10M Funding to Revolutionize Stablecoin Clearing: Implications for XRP and Global Crypto Adoption

Ubyx, a promising stablecoin clearing system founded by a seasoned payments expert, has successfully raised $10 million in seed funding. The investment round was led by Galaxy Ventures, with notable participation from Coinbase Ventures, Founders Fund, VanEck, and other key players in the cryptocurrency space. This development marks a significant step toward addressing the fragmentation in the stablecoin market and could have far-reaching implications for digital assets like XRP. The platform aims to create a global network for stablecoin acceptance, potentially streamlining cross-border transactions and enhancing liquidity. As of June 2025, this initiative represents a bullish signal for the broader crypto ecosystem, particularly for interoperability-focused assets such as XRP that stand to benefit from improved stablecoin infrastructure.

Ubyx Raises $10M to Build Global Stablecoin Clearing System

Ubyx, a stablecoin clearing system founded by a 30-year payments veteran, has secured $10 million in seed funding. The round was led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, and others. The platform aims to create a global network for stablecoin acceptance, addressing fragmentation in the current market.

The stablecoin ecosystem faces significant adoption barriers, including the high cost of building distribution networks and the inability of institutions to treat stablecoins as cash equivalents. Ubyx solves these challenges by connecting multiple issuers with receiving institutions, enabling redemption at par value into traditional bank accounts.

Key stablecoin issuers onboard include Paxos, Ripple, and Monerium. By standardizing redemption processes and aligning economic incentives, Ubyx positions itself as a critical infrastructure player for the next phase of stablecoin adoption.

XRP Faces Sustained Selling Pressure as Price Drops 5% in 24 Hours

XRP's price tumbled 5% to $2.164, extending weekly losses to nearly 10% as sellers overpowered recovery attempts. Resistance at $2.20 remains unconquered, with critical support levels breaking under intensified selling volume. The altcoin's short-term outlook appears bearish.

Trading volume doubled during the decline, reinforcing resistance at $2.19. Brief rallies to $2.179 were swiftly rejected, with the price subsequently testing $2.162. Market watchers now eye the $2.147 support level where buyers previously intervened.

The unusual pairing of high volume and price decline signals potential sentiment shift, according to analysts. Technical charts show a descending channel formation, suggesting the downtrend may continue absent a momentum reversal.

XRP Plummets to Weekly Low Amid Heavy Selling Pressure

XRP tumbled 4.5% in 24 hours, breaching critical support levels as sellers dominated the market. The token now struggles below $2.20 resistance, with technical indicators signaling sustained downward momentum.

A surge in trading volume between 15:00-16:00 UTC cemented resistance at $2.19, while subsequent recovery attempts faltered. The decline reflects broader market unease, compounded by macroeconomic uncertainty and recent ETF rejections.

With support forming at $2.147, analysts warn of potential further losses toward $2.10 if buyers fail to reclaim higher ground. The 9% weekly drop underscores growing bearish sentiment toward the digital asset.

Ripple CEO Hails 'Truly Historic' U.S. Crypto Bill Passage as GENIUS Act Clears Senate

The U.S. Senate approved the GENIUS Act with a 68-30 bipartisan vote, marking the first major financial legislation since Dodd-Frank. Ripple CEO Brad Garlinghouse called the moment "truly historic" for cryptocurrency and financial systems, emphasizing its importance for regulatory clarity.

The bill establishes federal oversight for stablecoins, restricting issuance to approved entities like banks. It mandates monthly reserve reports and annual audits for major issuers—measures designed to enhance transparency in the $150B stablecoin market. Eighteen crypto-friendly Democrats crossed party lines to support the legislation, signaling growing political recognition of digital assets' potential.

Market observers speculate the regulatory framework could benefit XRP by improving Ripple's operational environment. The crypto community views this as a watershed moment that may accelerate institutional adoption across the sector.

Ripple IPO Rumors Heat Up—Will XRP Surge Past $3?

2025 has proven turbulent for XRP, with modest gains overshadowed by volatility. Market analysts now speculate a breakout could be imminent as Ripple's corporate maneuvers fuel IPO rumors. John, founder of Wealth Group, asserts that despite executive denials, Ripple's recent strategic moves—including a undisclosed product launch—signal preparation for public listing. "An IPO WOULD legitimize Ripple for traditional investors and catalyze XRP's price," he noted.

XRP's technical chart reveals a tightening symmetrical triangle, historically a precursor to major price movements. After peaking at $3.4 in January 2025, the token faced successive rallies and retracements—notably during March's Trump-related spike. Current consolidation NEAR the triangle's apex suggests an impending breakout, with targets potentially exceeding previous highs.

Comparisons to Circle's explosive June 2025 debut loom large. Circle shares (CRCL) skyrocketed 167% post-IPO, amplifying speculation that Ripple—with its established cross-border payment infrastructure—could deliver even greater market impact. The convergence of technical patterns and fundamental catalysts positions XRP at a critical juncture.

Canada’s First Spot XRP ETF Launches on Toronto Stock Exchange

Purpose Investments has launched Canada's first spot XRP ETF (XRPP) on the Toronto Stock Exchange, offering investors regulated exposure to XRP through traditional accounts. The fund trades in CAD-hedged (XRPP), CAD non-hedged (XRPP.B), and USD-denominated (XRPP.U) versions, with a 0.69% management fee.

Vlad Tasevski, Purpose's Chief Innovation Officer, framed the Ontario Securities Commission's approval as a milestone in Canada's push to legitimize digital assets. "This creates a bridge between crypto and conventional finance," he said, noting the ETF's compatibility with tax-advantaged accounts like TFSAs and RRSPs.

To invest, traders must access TSX via a Canadian brokerage platform. The listing eliminates custody hurdles—investors gain crypto exposure without managing private wallets or navigating exchanges. Market observers anticipate this could set precedent for similar crypto ETF approvals in North America.