News linked to both this project and an event.
Ripple is advancing the addition of a lending infrastructure layer on the XRP Ledger (XRPL), enabling institutions to raise funds using on-chain tokenized assets as collateral. The protocol will automatically execute loan terms, while credit evaluation and lending decisions remain handled by off-chain institutions.According to disclosures, the proposal is named the XRPL Lending Protocol (corresponding to XLS-65 and XLS-66 standards). It is currently in the technical draft stage and will require approval through validator voting before launching on the mainnet, but developer testing has already been opened on the test network.The protocol’s design splits the lending process into two parts: on-chain management of liquidity pools, interest calculation, repayment execution, and default handling; while borrower credit assessment and loan term setting remain with traditional financial institutions to meet compliance requirements across different jurisdictions.Ripple states that the mechanism is primarily aimed at institutional short-term liquidity needs. For example, in cross-border payment scenarios, temporary financing through stablecoins or collateral assets can be obtained before settlement is completed, thereby improving capital efficiency.Analysts believe that while the plan attempts to introduce a “rule-enforced lending infrastructure” similar to traditional finance while maintaining XRPL's open network attributes, it will still face competition from established on-chain lending protocols such as Aave, Compound, and Maple. (CoinDesk)
According to CoinDesk, Goldman Sachs stated that U.S. IPO activity in 2026 doubled year-on-year, with approximately 50 companies having gone public and issuance volume reaching about $120 billion in dollar terms—matching the full-year record set in 2021. Ben Snider, Goldman Sachs’ Chief U.S. Equity Strategist, noted that this recovery is primarily driven by a wave of large-cap listings and financing demand tied to AI development—a “normal recovery” that remains fundamentally distinct from the speculative frenzy seen during the dot-com bubble. Currently, the average annual number of IPOs stands at roughly 100, far below the 250 IPOs in 2021 and the nearly 400 IPOs recorded at the peak of the 1999 bubble. Notably, crypto firms—including Payward (Kraken’s parent company), Consensys, Ledger, and Grayscale—have postponed or suspended their IPO plans amid market volatility and underwhelming post-listing performance. Meanwhile, high-profile AI- and tech-related IPOs such as SpaceX have successfully listed, drawing institutional capital away from the crypto market and into other sectors—exerting downward pressure on tokens and crypto-related stocks.
: Due to weak trading volumes and macro pressures weighing on valuations, crypto companies are pausing their long-awaited IPO plans. Hardware wallet manufacturer Ledger and MetaMask developer ConsenSys are among the companies that have delayed their IPOs. Ledger had previously planned to list on the New York Stock Exchange with a valuation of $4 billion.Sean Farrell, Head of Digital Asset Strategy at Fundstrat, stated that crypto trading volumes have fallen by approximately 75% year-to-date, putting pressure on the valuations of publicly listed crypto companies. In contrast, demand for IPOs from tech companies related to AI remains strong.Additionally, Bitcoin miners pivoting to AI infrastructure have become one of the better-performing segments in the crypto market. Sean Farrell also pointed out that Hyperliquid is one of the standout crypto ecosystems in 2026, generating approximately $850 million in revenue over the past 12 months. Its recent partnership with Coinbase has made USDC the canonical stablecoin on the platform. (coindesk)
according to sources familiar with the matter, MetaMask developer Consensys has postponed its U.S. IPO plans to earliest this fall. The company originally planned to submit a draft S-1 filing with the SEC by the end of February, but market demand weakened due to the market downturn in February, macroeconomic uncertainty, and Bitcoin ETF outflows. Besides Consensys, Kraken and Ledger have also paused their IPO plans.Consensys completed a $450 million funding round in 2022 at a valuation of $7 billion. Additionally, BitGo, which was the first crypto company to go public in 2026, raised $213 million but has since seen its stock price drop 36% from its $18 offering price, reflecting the public market's cautious approach toward valuing crypto infrastructure companies.
crypto wallet provider Ledger has suspended its US IPO plans, citing unfavorable current market conditions. (CoinDesk)
According to CoinDesk, French crypto hardware wallet company Ledger has suspended its U.S. IPO plans due to unfavorable market conditions. Sources familiar with the matter said Ledger was previously valued at approximately $4 billion and had engaged Goldman Sachs, Jefferies, and Barclays as IPO advisors—but it has not yet filed any registration documents with the SEC. The company may instead consider private fundraising. Earlier, Kraken also paused its IPO citing market conditions, while publicly listed BitGo’s stock price has fallen roughly 36% from its offering price, indicating a broad cooling of enthusiasm among crypto firms for U.S. listings.