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Five major banking groups jointly rejected the Tillis-Alsobrooks stablecoin yield compromise, calling it insufficient days before the May 14 markup.Senators Lummis and Tillis publicly defended the deal, warning that banking opposition may be aimed at killing the CLARITY Act altogether.Prediction markets currently price the bill’s odds of becoming law in 2026 at over 60%, with the White House targeting a July 4 presidential signature.

The application seeks to establish the Payward National Trust Company, or PNTC.“PNTC expects to serve institutional clients and individual customers seeking regulated, bank-level custody and trust services for digital assets,” Payward said.

Crypto exchange Kraken is seeking a U.S. federal banking charter to complement its Wyoming SPDI subsidiary.

Bitcoin briefly plummeted to about 2 cents on Revolut due to what the financial platform described as a third-party service disruption.

New XRP addresses hit multi-year lows, per Glassnode data, as the network shifts from "retail speculation" to institutional usage.

Senator Ashley Moody appeared at Consensus Miami 2026 on Day 3 alongside Digital Chamber CEO Cody Carbone.The session addressed Washington’s relationship with crypto as the CLARITY Act approaches a Senate committee vote.Moody joins a historically large cohort of federal policymakers appearing at Consensus 2026 for the first time.

Senate Banking Committee markup is planned for this month, leaving four working Senate weeks in June for floor passage, said Patrick Witt.

JPMorgan, Mastercard, Ripple, and Ondo tested tokenized Treasury redemption across XRPL and banking rails together.OUSG moved through XRPL while Kinexys delivered dollars to Ripple’s Singapore bank account in pilot.The pilot adds momentum to tokenized Treasuries as Wall Street waits for clearer rules globally.

The pilot transaction involved Ripple, JPMorgan, Mastercard and Ondo Finance.“By combining the XRP Ledger with global banking infrastructure, this pilot shows how institutions can execute cross-border transactions in a single integrated flow,” Ripple said.

Senator Kirsten Gillibrand appeared on the Consensus Miami 2026 mainstage on May 6 and said she is optimistic about the path forward for the CLARITY Act.Gillibrand also discussed AI regulation and her outlook for Democrats in the 2026 midterms during her live Consensus appearance.Charles Hoskinson, Eric Trump, and Michael Saylor were also scheduled to appear at Consensus Miami on Day 2.

Major financial institutions use XRP Ledger to demonstrate blockchain's ability to settle tokenized Treasuries across borders in seconds.

Bank trade groups formally opposed the stablecoin yield compromise, with TD Cowen saying it sees no middle ground between banks and crypto platforms.The dispute could still delay the crypto bill and reduce the chances of it passing this year, the firm said.

If the Senate Banking Committee does not hold a markup in the next few weeks, the chances of a bill passing into law drop “precipitously,” said Ripple CEO Brad Garlinghouse on Tuesday.Pressure has been building to pass a broad crypto bill that would regulate the industry at the federal level for the first time.

David Schwartz said he has virtually no crypto exposure left beyond XRP and Ripple equity.Schwartz said his XRP-heavy position was not fully planned, despite his long role at Ripple.He also said diversification can be rational when investors cannot clearly identify future winners.

The pilot uses Ripple Custody to hold, transfer, and settle tokenised Korean government bonds, with stablecoin payment rails also under exploration through Ripple’s RLUSD stablecoin.Jin Ho Park, Senior Executive VP at Kyobo Life, said the partnership is “not simply about digital assets” but about validating how traditional financial instruments can operate on blockchain.SBI Holdings, Ripple’s long-term Japanese partner, is also an investor in Kyobo Life, linking Ripple’s Japan and Korea strategies through the same financial network.

Volume expanded into the $1.40 breakout on May 4, confirming real positioning rather than a low-liquidity push.The $1.45 level is the critical structural barrier: 36.8 billion XRP, or 60% of supply, sits at a $1.44 average cost basis per Glassnode.Standard Chartered projects $4 to $8 billion in additional XRP ETF inflows if the CLARITY Act clears the Senate Banking Committee before May 21.