SBI becomes a validator on Circle's Arc while keeping its Ripple stake
- —SBI owns about 9% of Ripple, with the stake valued at about $4 billion
- —Arc is an EVM-compatible L1 with USDC as its native gas asset
- —Arc validators include BlackRock, DTCC, Galaxy, Visa and SBI
- —RLUSD supply reached $2.442 billion, USYC more than $3 billion
Why it matters: Major financial groups are hedging their bets between XRP and USDC infrastructure, and the outcome of that choice will determine whose rail becomes the standard for institutional settlement.
Source: 99Bitcoins