The Daily: XRP Ledger set to launch Ethereum-compatible sidechain, Stripe doubles down on crypto acquisitions, and more

About this update from Polygon Real Estate Ltd.

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.Happy Wednesday! Bitcoin held firm near all-time highs this morning, with the latest U.S. CPI data coming in lower than expected amid President Trump's announcement of a finalized China tariff deal and fresh calls for the Fed to cut rates.In today's newsletter, XRP Ledger developers get set to launch an Ethereum-compatible sidechain, payment giant Stripe doubles down on its crypto project acquisition spree, Connecticut passes a law banning state crypto reserves, and more.Meanwhile, Sygnum analysts warn Strategy's rising holdings risk making bitcoin "inappropriate" for central bank reserves.Plus, ICYMI, U.S. Solana ETFs could see approval in two to four months as the SEC requests updated filings.Let's get started.XRP Ledger set to launch Ethereum-compatible sidechainXRP Ledger, a blockchain associated with cross-border payments firm Ripple, plans to launch an Ethereum-compatible EVM sidechain this month to expand smart contract functionality.Ripple CTO David Schwartz announced the sidechain timeline at the Apex 2025 event in Singapore.The parallel-running blockchain combines XRPL's low-cost transactions with Ethereum's smart contract capabilities, leveraging the evmOS stack.XRPL contributors Ripple and Peersyst are co-developing the sidechain, which is currently live on testnet.The upcoming mainnet launch will follow further testing and validator partnerships.While the XRP Ledger already supports native smart contracts, the network does not currently support the EVM.Axelar will serve as the exclusive bridge for moving assets between XRPL and the sidechain, with wrapped XRP used as the native gas token.Stripe doubles down on crypto project acquisition spreePayments giant Stripe has agreed to acquire crypto wallet infrastructure firm Privy for an undisclosed sum as part of its broader push into the digital asset space.The deal follows Stripe's recent $1.1 billion acquisition of stablecoin platform Bridge and its launch of a stablecoin-based money management tool.Privy, which claims to power over 75 million accounts, helps developers embed secure, user-friendly, and multi-chain crypto wallets into their apps while abstracting away some of the complexities, including seed phrases and gas accounting.Privy will remain an independent product under Stripe...

View stock analysis, news, and events for Polygon Real Estate Ltd.