Citadel Securities and Fortress take stakes in Ripple at $40bn valuation
$500mn investment round underlines appetite for stablecoin payments sector
$500mn investment round underlines appetite for stablecoin payments sector

Investment follows passing of so-called Genius Act to regulate stablecoins in the US

The crypto tokens are not yet safe enough to be used at scale in the settlement of large, wholesale financial transactions

Asset-backed digital currencies could pose risks to bedrock of global financial system

Fears that they make it easier for criminals to move money around are based on a misconception

Banks say rules governing the digital currency are a risk to financial stability. Are they just trying to stamp out competition?

CEO Paolo Ardoino downplays the scale of $185bn stablecoin group’s capital raise