Daily Brief: September 24, 2025
Crypto Bridges, Trading Expands, Vitalik Defends
TL;DR: Ripple's RLUSD is now part of Securitize's platform, connecting traditional finance with crypto through BlackRock and VanEck funds, enhancing liquidity. Morgan Stanley teams up with Zerohash to offer crypto trading on E*Trade by 2026, reflecting Wall Street's embrace of digital assets. Vitalik Buterin defends Coinbase's Layer-2 platform, Base, against centralization claims, emphasizing its security and non-custodial nature. These moves indicate a growing blend of traditional and digital finance, along with efforts to boost trust and innovation in the crypto space.
đź”— Ripple's RLUSD Bridges Finance with BlackRock and VanEck
Ripple's RLUSD stablecoin is now part of Securitize's platform. This allows investors in BlackRock’s BUIDL and VanEck’s VBILL tokenized funds to instantly convert their shares into RLUSD. This move boosts liquidity and connects traditional finance with crypto, offering a regulated and stable option for institutional investors.
The integration provides 24/7 liquidity through a smart contract, enabling real-time settlement for tokenized fund shares. BlackRock’s BUIDL fund, valued at $2 billion, and VanEck’s VBILL fund, valued at $74 million, can now be exchanged for RLUSD. This marks a growing institutional interest in tokenized financial products.
Ripple's RLUSD is designed for institutional use, offering regulatory clarity and stability. This partnership with Securitize, along with major financial firms like BlackRock and VanEck, underscores Ripple's strategy to expand stablecoin use. It aims to bridge traditional finance and crypto, enhancing liquidity and accessibility for institutional investors.
Why it matters: This integration enhances liquidity and flexibility for investors in tokenized real-world assets, promoting broader adoption of blockchain-based financial products within regulated frameworks.
🚀 Morgan Stanley Partners with Zerohash for E*Trade Crypto Trading
Morgan Stanley plans to offer cryptocurrency trading to retail investors through its E*Trade platform by early 2026. The bank has teamed up with Zerohash, a crypto infrastructure provider, to make this service possible. Initially, users will be able to trade Bitcoin, Ethereum, and Solana, marking a significant step in Morgan Stanley's digital asset strategy.
This partnership is part of a larger trend where financial institutions are embracing digital assets due to favorable regulatory changes. Zerohash, which recently reached a $1 billion valuation, will supply the necessary infrastructure for liquidity and settlement. Morgan Stanley's investment in Zerohash highlights its commitment to integrating crypto into mainstream financial services.
This move places Morgan Stanley alongside competitors like Robinhood and Interactive Brokers, who are also expanding their crypto offerings. This development signals growing institutional acceptance of digital assets and reflects a shift towards combining traditional and digital financial products within unified accounts.
Why it matters: This partnership makes cryptocurrency trading more accessible to retail investors through a major brokerage, demonstrating Wall Street’s deeper integration of digital assets and signaling maturation of crypto infrastructure.
🛡️ Vitalik Buterin Defends Coinbase's Base Layer-2
Vitalik Buterin, co-founder of Ethereum, has stepped up to defend Coinbase's Layer-2 platform, known as Base, against claims of centralization and concerns over user fund custody. He highlighted that Base functions as a non-custodial extension of Ethereum, ensuring that user funds remain secure even if the Layer-2 platform were to shut down. Buterin explained that Base relies on Ethereum’s decentralized foundation for security, allowing users to withdraw their funds independently.
The debate around Base gained momentum after SEC Commissioner Hester Peirce questioned whether Layer-2 sequencers should be classified as exchanges. Buterin, along with Coinbase's Chief Legal Officer, Paul Grewal, argued that Layer-2 sequencers are more like infrastructure providers than exchanges. They compared them to cloud services that process transactions without matching buy and sell orders, suggesting they don't need the same level of regulatory oversight.
Base processes about 160 transactions per second and holds nearly $15 billion in total value locked. It is praised for balancing usability with Ethereum's security. Coinbase's involvement has enhanced Base's credibility, and there are discussions about introducing a Base Token to further decentralize the network. This endorsement by Buterin and Coinbase leadership highlights Base's role in advancing Layer-2 scalability while maintaining decentralization.
Why it matters: Clarifying Base's non-custodial nature and regulatory status is crucial for fostering trust and innovation in Ethereum's Layer-2 solutions, impacting user adoption and regulatory approaches.
