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XRP Becomes One of the Most Searched Tickers on X

Zabi
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XRP Becomes One of the Most Searched Tickers on X

XRP has emerged as one of the most searched ticker symbols on X amid growing user interest in crypto market discussions on the platform.

The increased visibility comes as X expands tools that let users track market activity directly within posts, a shift toward real-time financial engagement on the platform.

Key Data Points

  • XRP ranked 6th among the most searched cashtags on X, according to Nikita Bier, Head of Product.
  • The data covers searches from December 1, 2025, to January 14, 2026, Bier said.
  • IREN topped the list, followed by TSLA, ASTS, BTC, and ONDS.
  • Additional cashtags in the top group included GME, NBIS, OPEN, and ETH, Bier disclosed.
  • The rankings were released shortly after X confirmed development of Smart Cashtags.

XRP Role in Market Conversations on X

XRP’s placement among the most searched symbols reflects its continued relevance in online market discussions. Its presence alongside major equities and digital assets illustrates the convergence of traditional finance and crypto conversations on the platform.

XRP Among the Top 10 Most Searched Cashtags
XRP Among the Top 10 Most Searched Cashtags

Smart Cashtags Launch

The release of the ranking data coincides with X’s confirmation that it is developing a new feature called Smart Cashtags. According to Bier, the tool will link ticker symbols in posts directly to live market data.

When users tap a cashtag, they will be taken to an in-app page displaying price information, price changes, charts, and related posts. Thus, the feature aims to make market-related conversations easier to follow without requiring users to leave the platform.

Bier noted that Smart Cashtags will help mitigate confusion surrounding asset symbols. This concern is particularly acute in cryptocurrency markets, where overlapping or similar names are common.

To improve accuracy, some digital assets may be identified by their smart contract addresses, enabling clearer differentiation among tokens that share similar ticker symbols.

X plans to gather user feedback ahead of a public rollout. Bier said the company is targeting a launch next month. However, details on potential trading features or monetisation tools have not been disclosed.

Financial Strategy and Platform Expansion

These developments align with X’s broader effort to position itself as a source of real-time financial information. Owner Elon Musk has repeatedly described his ambition to transform X into an “everything app,” a vision that includes payments and financial services.

Earlier, former X CEO Linda Yaccarino announced plans for in-app investing in June before stepping down a month later. Bier joined X around the same period. In addition, he serves as an advisor to Solana and as a venture partner at Lightspeed Venture Partners.

Evernorth Confirms Plans to Make XRP Access Easy for Institutions Through Q1 2026 IPO

Abdulkarim Abdulwahab
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Evernorth Confirms Plans to Make XRP Access Easy for Institutions Through Q1 2026 IPO

XRP treasury firm Evernorth plans to make institutional exposure to XRP simple as it prepares for a public listing in Q1 2026. 

The company believes that stronger regulation, especially in the United States, and growing institutional interest now provide the right conditions for its launch and expansion.

Evernorth revealed how it intends to remove barriers by handling custody, compliance, and security on behalf of investors looking to gain exposure to XRP. Moreover, the company expects to support new blockchain financial products, generate treasury yield, and reinvest in XRP.

Key Data Points

  • Evernorth is currently eyeing a Q1 2026 IPO to make institutional access to XRP simple.
  • The company plans to do this by letting investors buy stock instead of managing digital assets directly.
  • Also, it expects to generate yield from its XRP holdings and reinvest earnings to expand its treasury.
  • Evernorth further plans to help build XRP-based products and actively support ecosystem growth.
  • The company believes now is the ideal moment for institutions to enter blockchain finance.

A Simpler Way for Institutions to Enter the XRP Market

The company’s CEO, Ashish Birla, disclosed these plans while speaking with host Kristina Ayanian at NASDAQ’s MarketSite.

During the interview, Ayanian highlighted that Evernorth’s move to the public market comes at a time when digital assets continue to expand into traditional finance. She asked Birla to explain what sets Evernorth apart and why public investors should take an interest. 

In response, Birla highlighted the difference between Evernorth’s model and the usual steps required to participate in crypto. He said investors normally need to store their own assets, secure them, and manage rules and compliance on their own.

Birla explained that some investors and companies handle that responsibility well, but the majority want something easier. Notably, these ones prefer the simplicity of buying a share rather than setting up digital wallets, storage, or security systems. He said Evernorth solves this problem by doing the heavy lifting behind the scenes while shareholders benefit from indirect exposure to XRP.

Evernorth Looking to Fill Infrastructure Gaps for Traditional Investors

Ayanian then noted that institutional investors still face barriers when they try to enter the digital asset ecosystem. Birla agreed and said that regulation, compliance, and protection of digital assets are the biggest challenges. He emphasized that Evernorth designed its business to handle each of those issues directly, removing friction for clients.

According to Birla, his group has spent more than ten years developing blockchain products and understands how to operate safely in the space. He stressed that investors do not need new tools, systems, or knowledge. They simply buy Evernorth’s XRPN stock and let the company manage the blockchain side.

Going Beyond Ownership to Build the XRP Ecosystem

Meanwhile, the rise of XRP ETFs, which now boasts $1.27 billion in cumulative netflows, became the next topic in the conversation. Birla said recent launches proved that public markets now demand regulated exposure to XRP. 

Birla also explained that Evernorth will not stay limited to holding XRP. He said the firm plans to support financial products built on top of the XRP blockchain and help expand the ecosystem. 

Notably, part of this strategy includes earning yield on Evernorth’s XRP treasury and reinvesting the proceeds into additional XRP holdings. Birla said this will make the company an active contributor rather than a passive participant.

What Separates Future Winners in Digital Asset Treasuries

When Ayanian asked what would separate top performers in the digital treasury market, Birla called attention to two main strengths: scale and involvement. He noted that Evernorth already stands as the largest XRP-focused treasury today and intends to strengthen that lead going into its IPO.

Birla emphasized that the most successful firms must engage in the ecosystem rather than simply store tokens. He said Evernorth plans to continue building blockchain products, support use cases tied to XRP, and keep generating returns for shareholders. He expects the strongest digital treasuries to take the initiative, support development, and remain close to the technology.

XRP ETFs Beat BTC, ETH, and SOL Funds in Daily Inflows

Mark Brennan
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XRP ETFs Beat BTC, ETH, and SOL Funds in Daily Inflows

The XRP ETFs recently recorded the largest daily capital inflow for any crypto ETF, beating Bitcoin, Ethereum, and Solana.

According to data from market resource Sosovalue, XRP ETFs witnessed a little above $17 million worth of capital inflows on Jan. 15, marking their sixth consecutive intraday inflow since the $40.8 million outflow recorded on Jan. 7. Further, the latest stat means that XRP ETFs have now seen 42 days of capital inflows out of 42 trading days since their launch.

XRP ETFs Daily Inflow Sosovalue
XRP ETFs Daily Inflow | Sosovalue

While the $17.06 million may appear modest compared to larger inflows such as $46 million witnessed earlier this year, it represents the biggest inflow on Jan. 15 for any crypto ETF in the market, as Bitcoin (BTC) recorded outflows, while Ethereum (ETH) and Solana (SOL) witnessed smaller inflow figures.

Key Data Points

  • XRP ETFs recorded $17.06 million in capital inflows on Jan. 15, extending their inflow streak to six days.
  • The ongoing streak began on Jan. 8 after these products saw their first outflow worth $40.8 million the previous day.
  • The latest $17.06 million figure represents the largest across all crypto ETFs in the market.
  • While Bitcoin saw outflows on the same day, Ethereum recorded $15.21 million in inflows, and Solana’s inflows stood at $8.94 million.

XRP ETFs Lead During Market Struggles

The recent performance demonstrates XRP’s ability to secure impressive capital inflows at a time when the broader crypto market grapples with price struggles. For context, the XRP ETFs’ $17 million inflow came as the global crypto market cap lost $47 billion yesterday, down 1.46% in what was its largest intraday decline in a week.

However, Bitcoin ETFs have often reacted more adversely to bearish market conditions, as investors typically pull out funds from the products when the broader crypto market underperforms. Yesterday, BTC ETFs saw outflows valued at $215.61 million, breaking what would have been four days of consistent capital influx.

Meanwhile, the $15.21 million figure from Ethereum ETFs represented a decline of 91% from the previous intraday inflow of $175 million. Solana’s $8.94 million also marked a 62% drop from its Jan. 14 record of $23.57 million. Only XRP ETFs witnessed an increase from the previous day, with the $17.06 million representing a 60% increase in daily inflows.

Historical Performance

This trend was prevalent during Q4 2025, when XRP ETFs saw consistent inflows and outperformed the broader ETF market, while crypto prices struggled. For context, the global crypto market lost $917 billion in Q4 2025, but XRP ETFs saw $1.165 worth of inflows. Meanwhile, BTC ETFs lost $4.5 billion, while ETH ETFs shed $2 billion within the same period.

At the time, some critics argued that the positive performance was due to the products’ early success syndrome. However, today, the XRP ETFs have sustained this pattern. With the latest figure, the products have now recorded $1.27 billion in cumulative total net inflow.

XRP Worst Case Scenario Points to Further 47% Drop, But Market Still Bullish

Mark Brennan
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XRP Worst Case Scenario Points to Further 47% Drop, But Market Still Bullish

Amid the ongoing market uncertainty, the worst-case scenario for XRP points to a further 31% to 47% drawdown, but the market remains bullish.

XRP has continued to hold onto the $2 psychological price mark, but further drawdowns could still play out despite a 43.7% decline from the July 2025 all-time high. Specifically, in its worst-case scenario for this cycle, XRP could drop by another 31% to 47% from the current position.

Such a decline would take XRP to prices of around $1.2 to $1.4. However, the bull market remains intact, and a recovery from such drawdowns could still emerge in the ongoing cycle.

Key Data Points

  • After an impressive start to 2025, XRP ended the year with an 11.54% decline on the back of an abysmal fourth quarter.
  • While a 12.54% recovery has emerged this year, 2026, XRP still trades 43.7% below the 2025 peak of $3.66.
  • Despite this, a 31% to 47% drawdown could still play out in the worst-case scenario, potentially pushing prices to between $1.2 and $1.4.
  • However, the bull market remains intact, and a recovery from this drawdown may emerge for XRP.

XRP Still Prone to Further Downside

EGRAG Crypto, a crypto market analyst, revealed this in one of his latest commentaries titled “The Nightmare Scenario vs. Conviction.” The market pundit stressed that for this analysis, he would assume the position of a bear, but only to assess how bad it could get for XRP if things take a turn for the worse.

According to him, for the long term, XRP’s fundamentals are far from bearish, as the bull market remains intact. He argued that only critics would think otherwise. However, while the market still points to a future uptrend, XRP is not immune to short-term price swings, and these swings may lead to further declines.

When such declines emerge, EGRAG suggests that the worst-case scenario for XRP could see the crypto asset drop 31% to 47% from the current position. According to EGRAG, such drawdowns would take XRP to a price range of $1.2 to $1.4. He calls this “the bear case” and “the uncomfortable scenario.”

Historical Context on XRP Drawdowns

Interestingly, EGRAG’s commentary hinges on XRP’s historical data, taking cues from previous cycles when XRP experienced similar downturns. For instance, after the 2018 bull run, XRP recorded a 31% drop to the $0.17 low by December 2019 before recovering to reach $1.96 in April 2021.

XRP 1M Chart EGRAG Crypto
XRP 1M Chart | EGRAG Crypto

Meanwhile, following the $1.96 peak, XRP’s price saw another major decline, dropping 47% to $0.28 by June 2022. This downturn came on the back of the bearish contagion that swept through the crypto market following the Terra ecosystem implosion.

EGRAG’s idea of a 31% to 47% downturn aligns with these historical declines. Nonetheless, he emphasized that this would only play out if XRP currently sits in a structural position similar to these past cycles. Notably, multiple analysts have already suggested that XRP is following the 2017 fractal.

What Next?

Despite the possibility of steeper declines, EGRAG insisted that he remains within the camp of individuals who believe the bull run remains intact, but is currently seeing a drag as it enters its final stage of exhaustion. According to him, XRP’s macro trajectory still leads toward a double-digit price.

EGRAG noted that should the 31% to 47% drawdown play out, he would regard it as an opportunity to load up on his bag. He noted that if he still has liquidity, he will likely double his investment. However, this represents his personal conviction, and investors should not follow this approach based solely on EGRAG’s words.

XRP Could be at the Same Point in a Parabolic Curve as Bitcoin When BTC Traded at $2

Elendu Benedict
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XRP Could be at the Same Point in a Parabolic Curve as Bitcoin When BTC Traded at $2

XRP could be at the same level as Bitcoin was 14 years ago, when prices traded at $2.

The chart below shows Bitcoin in its early days, at around $2 in 2012, and XRP allegedly at the same level as the crypto leader today.

XRP Chart Comparing It With Bitcoin's 2020 Price Action/Steph Is Crypto
Chart Comparing XRP With Bitcoin’s 2020 Price Action/Steph Is Crypto

Key Points

  • Bitcoin, which currently trades at $95,000 and reached an all-time high of $126,200, once traded at $2.
  •  XRP could be at the same level as Bitcoin was 14 years ago when it traded at $2.
  • XRP could also be at the same stage of market skepticism as Bitcoin.

XRP Is at a Similar Point to Where Bitcoin Was 14 Years Back

Steph on X noted that almost nobody believed in Bitcoin at the time, as it faced criticism and ostracization from the global financial scene. Unbeknownst to critics, the asset was at the start of its parabolic expansion.

The analyst views XRP in that light. He claimed that XRP is at the same point in its curve and at the same price level as Bitcoin. At the time of writing, XRP changes hands at $2.14 per coin.

Why The Analyst Compared XRP to Bitcoin

He provided more context with his “same stage in the cycle” narrative. Notably, Bitcoin was at the start of its 2012/2013 bull cycle, during which it reached a peak of $1,242 in November 2013.

Steph’s comment highlighted that XRP might be at the start of a parabolic expansion phase. Notably, this remains highly speculative, as he did not provide any further evidence to support it.

Additionally, he noted that XRP is also in the same stage of market skepticism as Bitcoin then. This implied that, as many doubted Bitcoin back in the day, current market participants are also cautious about XRP.

Notably, enthusiasts have sold XRP as a payment asset that would dislodge the legal payment and remittance system, teasing that it would replace giants like SWIFT. While this remains highly speculative, that narrative has drawn widespread criticism to the XRP ecosystem.

Nonetheless, Steph sees these as aligning factors that would send XRP parabolic, as it did to Bitcoin back in 2012.

Crucial Caveats to Note

While Steph remains highly optimistic that XRP will match Bitcoin’s move from 14 years ago, the facts he provided are not data-driven or fact-based. The scale of his projected price growth also looks ambitious, considering XRP’s large market cap. Notably, his chart shows a 56,000% increase in the price of XRP.

Nonetheless, this doesn’t take anything away from XRP, as the asset has proven to have a track record of appreciating considerably, fueled by cycle-inspired momentum. Recall that XRP rallied 55,000% between February 2017 and January 2018.

Essentially, the analysis does not in any way translate to financial advice.

$1,000 XRP Is Far Away, “The Earth Is Not Ready for This”

Abdulkarim Abdulwahab
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$1,000 XRP Is Far Away, “The Earth Is Not Ready for This”

A popular crypto YouTuber is countering claims that XRP is heading straight to $1,000, arguing that such expectations are far ahead of current market realities.

Specifically, this view emerged from crypto commentator Mason Versluis, who said on X that XRP holders need a “reality check.”

He stressed that a four-figure price is not something he expects in the near term. According to him, XRP reaching $1,000 by 2026 is unrealistic, and he remains confident in that view through the end of the year.

  • A crypto YouTuber says XRP hitting $1,000 is unrealistic and far beyond current market realities.
  • Mason Versluis argues that global markets are not ready to support a four-figure XRP valuation.
  • He sees more realistic targets at $5, $10, and possibly $20 before 2026.
  • Versluis says XRP could reach $30 long term through market structure, not hype.

$1,000 XRP Not Coming Anytime Soon

Versluis explained that while XRP’s long-term potential is often discussed in bold terms, the pace of progress is frequently overstated. In his view, the financial system and global markets are simply not yet ready to support such an extreme valuation. He summarized it saying, “The earth is not ready for this.”

Rather than focusing on distant price targets, he believes investors should pay closer attention to more achievable milestones.

More Modest Targets for 2026

Despite dismissing the $1,000 narrative, Versluis remains constructive on XRP’s shorter-term outlook. He said he hopes to see XRP trade around $5, $10, and even $20 at some point this year. He believes these levels align with the current stage of adoption and market structure.

His views also echo popular debate within the XRP community, where optimism about long-term utility often clashes with near-term market realities.

XRP Price Action Today

At the time of writing, XRP is trading around $2.11, up roughly 2% over the past week. Reaching $5 would require just over a 2X price increase, while $10 would demand a much steeper 5X gain. As for $20, XRP would need to rise tenfold to reach that level, giving it a market capitalization of over $1.2 trillion.

While ambitious, Versluis believes this is attainable before the end of 2026. This outlook aligns with his earlier analysis explaining why $30 is a realistic price target for XRP.

YouTuber Explains Why XRP Could Reach $30

Versluis says XRP could reach $30 based on market structure rather than hype or short-term catalysts. He argued that XRP needs only a 12x surge to hit $30, which, to him, becomes possible if XRP were ever at a market cap similar to Bitcoin’s current level of about $1.9 trillion.

Versluis tied XRP’s upside to Bitcoin’s long-term growth. If Bitcoin’s market cap expands to $5 or $10 trillion, capital rotation could lift major altcoins, making a up to $2 trillion valuation for XRP—and a $30 price—more plausible, in his view.

Meanwhile, he declined to provide a specific timeline for this $30 price. He instead focused on how market cycles and capital flows can redefine what price levels seem possible over time.

BNB Completes 34th Quarterly Burn, Eliminating $1.27B Worth of Tokens

Abdulkarim Abdulwahab
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BNB Completes 34th Quarterly Burn, Eliminating $1.27B Worth of Tokens

The BNB ecosystem has carried out its 34th token burn as part of its quarterly series, reducing the total supply of BNB.

In the latest round, the BNB Foundation confirmed the incineration of 1.372 million BNB tokens, with a market value of $1.277 billion. This transaction represents the burn for the last quarter of 2025 and also marks the first burn of 2026.

Key Facts

  • BNB completes its 34th quarterly burn, removing 1.37M tokens worth $1.27B.

  • Total BNB supply drops to 136.36M as over 65M tokens have been burned so far.

  • Higher prices made this burn more valuable despite fewer tokens destroyed.

  • BNB’s next burn is projected at 1.36M tokens by the end of Q1 2026.

Latest BNB Quarterly Burn

Specifically, 1,371,703.67 BNB tokens have been removed from circulation in this latest quarterly burn.

Notably, the previous burn was announced in October 2025, when 1.441 million BNB were incinerated, valued at $1.208 billion. While today’s burn involves fewer tokens but a higher dollar value, the difference is due to BNB trading at higher price levels for most of Q4 2025 compared to Q3 2025.

BNB’s price ranged from highs of $1,370.55 in October to lows of around $800 in December 2025. By contrast, in July 2025, BNB traded near $644, rising to highs of around $1,080 toward the end of Q3.

As of today, BNB is trading at $937, up 6% over the past week and 8.62% since the start of the year.

What to Expect in the Next BNB Quarterly Burn

The BNB Foundation estimates that approximately 1.362 million BNB tokens, valued at $1.229 billion, will be burned by the end of the first quarter of 2026. However, if BNB’s price surges during Q1 2026, the total burn value could reach several billions of dollars.

This projected figure for the 35th quarterly burn would be lower than the amount burned in the current round. The estimate aligns with a recent trend, as the team has announced progressively lower burn volumes in recent quarters.

Historically, the BNB ecosystem recorded its largest single quarterly burn during the 14th burn, when 3.619 million BNB tokens were destroyed. Conversely, the smallest burn occurred during the 8th series, with 808,000 BNB tokensburned.

The Road Ahead

Following the latest burn, BNB’s total supply now stands at 136.361 million tokens, with 65.638 million BNB burned to date from the original 202 million supply. The BNB ecosystem will continue to incinerate tokens every quarter until it achieves its goal of eliminating 50% of the total supply, reducing it to approximately 100 million BNB.

The number of tokens burned each quarter depends on BNB’s price and the number of blocks produced on BNB Smart Chain (BSC). This process is transparent, independently verifiable, and not controlled by the Binance exchange.

All burns occur directly on BNB Smart Chain, with tokens sent to a permanent “black hole” address, permanently removing them from circulation.

In addition to quarterly burns, BNB also features a real-time burn mechanism, where a portion of gas fees from each block is automatically burned.

Overall, BNB’s supply reduction mechanism combines predictable quarterly burns with continuous gas-fee burns, supporting the long-term sustainability of the ecosystem.

BNB is the primary token of the BNB Chain ecosystem and is used to pay transaction fees, participate in governance, and support activities across BNB Smart Chain, opBNB, and BNB Greenfield.

Stablecoin Yield Will Attract $6 Trillion in Bank Deposits: Bank of America

Elendu Benedict
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Stablecoin Yield Will Attract $6 Trillion in Bank Deposits: Bank of America

Bank of America has highlighted the threat that stablecoins would pose for US banks and their operation if they incorporated yield-bearing features.

Its CEO, Brian Moynihan, told reporters during the company’s quarterly earnings call on Wednesday that banks would see a massive liquidity outflow into stablecoins. Specifically, $6 trillion in deposits could move from banks into fiat-pegged digital assets, accounting for up to 35% of their total deposits.

Key Points

  • Bank of America has highlighted the threat that yield-bearing stablecoins would pose for US banks and their operation if they stood.
  • Its CEO, Brian Moynihan, told reporters on Wednesday that $6 trillion in deposits would move from banks into stablecoins.
  • Banks have long viewed reward-yielding stablecoins as a threat to core banking in the US, as they impact their lending capacity.
  • On January 9, Senate Banking Committee Chair Tim Scott presented the provision that prohibits virtual asset providers from offering interest on passively held stablecoins.
  • The bill closes the loophole in the GENIUS Act that banned paying interest on stablecoin holdings while allowing third-party platforms like Coinbase to reward holders.
  • Coinbase CEO Brian Armstrong has also kicked back at the bill, noting that the exchange would not support it.

Context for Statement

Banks have long viewed reward-yielding stablecoins as a threat to core banking in the US. Notably, stablecoins offer returns higher than the standard rates banks offer, and banking institutions fear they would erode their relationships with customers.

On Wednesday, Moynihan reiterated this sentiment, stating that banks would experience a shortage in deposits, which would impact their lending capacity. He noted that $6 trillion could shift from banks to stablecoins, citing Treasury Department studies.

According to him, this rebalancing would mean banks can’t get low-cost funding, forcing them to either halt lending or rely on wholesale funding. The latter comes with a cost that impacts their profitability.

Banks Lobbying to Scrap Stablecoin Yields

Meanwhile, banks are already seeking to address this issue in the recently proposed bill on the crypto market structure (CLARITY Act). On January 9, Senate Banking Committee Chair Tim Scott presented the provision that prohibits virtual asset providers from offering interest on passively held stablecoins.

However, the legislation made an exception for rewards on stablecoin activities such as staking and liquidity provision. The bill aims to close the loophole in the GENIUS Act that banned paying interest on stablecoin holdings while allowing third-party platforms like Coinbase to reward holders.

Despite the committee markup being pushed further, banks are already lobbying to close this loophole. Over 70 amendments have already been filed ahead of the postponed meeting, highlighting ongoing efforts to influence its outcome.

Why the Bill Matters for Crypto

According to Galaxy Research, the bill could “enact the single largest expansion to financial surveillance authorities” since the PATRIOT Act of 2001. The CLARITY Act gives the Treasury Department power over crypto transactions, including the ability to freeze assets for 30 days without a warrant.

Meanwhile, Coinbase CEO Brian Armstrong has also kicked back at the bill, noting that the exchange would not support it. According to him, there are several issues with the legislation that would affect the sector’s growth.

SWIFT Tests Tokenized Bond Settlement With Societe Generale’s EURCV Stablecoin

Zabi
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0
SWIFT Tests Tokenized Bond Settlement With Societe Generale’s EURCV Stablecoin

Societe Generale has completed a blockchain settlement test with SWIFT, showing that tokenized bonds can move smoothly between blockchain networks and traditional financial systems.

The pilot suggests that regulated stablecoins and existing payment systems can work together, rather than compete.

The test was run by SG-FORGE, the bank’s digital asset arm, using SWIFT’s network to link blockchain platforms with conventional payment rails.

Key Data Points

  • SG-FORGE and Swift tested tokenized bond settlement using the MiCA-compliant, euro-backed stablecoin EURCV.
  • The pilot covered the full bond lifecycle, including issuance, delivery-versus-payment settlement, coupon payments, and redemption.
  • Swift coordinated blockchain activity alongside existing payment infrastructure.
  • Swift announced plans in September last year to develop a shared blockchain ledger with more than 30 global banks.

Stablecoin as a Bridge Between Systems

At the center of the pilot was EURCV, a euro-denominated stablecoin issued by SG-FORGE. The bank said the token complies with European regulatory requirements while remaining interoperable with existing financial systems.

Rather than replacing current payment rails, EURCV functioned as a bridge. In practice, it enabled blockchain assets to interact with traditional infrastructure, allowing transactions to move across both environments without disrupting established processes.

Testing the Full Bond Lifecycle

Using this framework, SG-FORGE tested multiple stages of a bond’s lifecycle. These included issuance and delivery-versus-payment settlement, followed by coupon payments and final redemption.

According to the bank, executing all of these steps within a single setup demonstrates that tokenized bonds can replicate the operational features of conventional securities while benefiting from blockchain-based settlement.

While blockchain settlement is often presented as an alternative to Swift, this trial took a different approach. Instead, Societe Generale emphasized interoperability over replacement.

By combining blockchain technology with Swift messaging and ISO 20022 standards, the setup reduces settlement times while remaining aligned with existing banking workflows. This model enables institutions to adopt tokenization without significant changes to their infrastructure.

Swift’s Expanding Role in Digital Assets

From Swift’s perspective, the pilot demonstrated its ability to coordinate transactions across multiple platforms. In particular, its network handled communication between blockchains and traditional payment systems.

Thomas Dugauquier, who leads tokenized assets products at SWIFT, said interoperability will shape the next phase of capital markets. He added that proven coordination tools can help financial institutions scale digital asset adoption with greater confidence.

Part of a Broader Industry Effort

More broadly, the Societe Generale pilot is part of a wider series of digital asset initiatives led by Swift. Other projects involve UBS Asset Management and Chainlink, as well as collaborations with Citi, HSBC, and Ant International.

Additional trials include work with Northern Trust and the Reserve Bank of Australia to settle digital transactions through commercial bank accounts. Taken together, these efforts seek to link tokenized assets with bank-based money.

In September last year, Swift announced plans to work with more than 30 global banks on a shared blockchain ledger, initially targeting real-time, 24/7 cross-border payments.

Digital Asset Treasury Firms Spent $49B to Buy Bitcoin and Crypto in 2025

Sam Wisdom Raphael
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Digital Asset Treasury Firms Spent $49B to Buy Bitcoin and Crypto in 2025

Digital asset treasury companies poured more than $49 billion into Bitcoin and crypto through 2025, according to CoinGecko’s latest annual report. 

Per the report, these firms emerged as major buyers even while the crypto market struggled through one of its toughest cycles since the 2022 bear market. For context, the global crypto market dropped 7.85% in 2025, marking the first annual decline since 2022.

However, most of these losses emerged in the fourth quarter of 2025, with the year recording periods of price surges across multiple months. When the market saw bullish momentum, these Digital Asset Treasury (DAT) firms deployed capital, but the trend slowed in Q4.

Key Data Points

  • At the start of 2025, DAT companies held $56.5 billion worth of crypto assets, including Bitcoin, Ethereum, and others.
  • By the end of the year, their holdings had increased to $134 billion, representing a 137% rise.
  • These firms deployed a minimum of $49.7 billion into purchasing crypto assets in 2025.
  • Their purchase spree slowed in Q4 2025 when the crypto market saw losses.

The Crypto Market Struggled in 2025

CoinGecko’s report shows that crypto failed to carry its earlier momentum into 2025. The total market value dropped nearly 8% year-over-year and ended the year near $3 trillion. 

The sharpest damage came in the last three months of the year, when the market shed almost a quarter of its value. Notably, a liquidation wave of roughly $19 billion in October accelerated the drop shortly after total market value briefly reached a record high near $4.4 trillion.

DAT Companies Stole the Show

While gold and silver saw gains, Bitcoin could not keep up, dropping more than 6% last year. However, digital asset treasury companies stole the show.

These firms spent at least $49.7 billion buying Bitcoin, Ethereum, and other tokens during the year. Nearly half of the spending came in the third quarter, when several new treasury vehicles launched and immediately deployed heavy capital into the market. 

Digital Asset Treasury Firms Bought More Bitcoin and Crypto in 2025
Digital Asset Treasury Firms Bought More Bitcoin and Crypto in 2025

Their activity helped push institutional ownership to a new scale, giving treasuries control of more than 5% of both the Bitcoin and Ethereum supply by year-end. The Crypto Basic recently confirmed that the top 100% companies holding BTC have accumulated 5.2% of the asset’s supply.

Q4 Market Struggles Slowed the Pace

Notably, the pace slowed in Q4 2025. As prices fell, the share prices of many publicly listed treasury firms dropped below the value of their assets, putting pressure on them to support their stock prices. Instead of continuing to accumulate tokens, they redirected capital to buy back outstanding shares. 

Despite this, their collective crypto balance jumped from roughly $56 billion at the start of 2025 to more than $134 billion on January 1, 2026, representing a gain of more than 137%. By the start of 2026, treasuries held more than 1 million Bitcoin and 6 million ETH.

Data from BitcoinTreasuries confirms this trend. Specifically, public companies alone boosted their Bitcoin reserves by almost 500,000 BTC during 2025. Their holdings increased from about 598,714 coins to more than 1.09 million, representing an increase of around $47.5 billion at current prices.

Market Remained Active

Meanwhile, even with the falling prices, traders and investors stayed active. Notably, average daily trading volume climbed above $160 billion, reaching the highest level seen in years. 

Stablecoins gained traction, with their collective market size rising nearly 50% to more than $300 billion as investors looked for safe, liquid assets during the downturn. Also, perpetual futures markets saw centralized exchanges clear more than $86 trillion in trades.

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