Franklin Templeton Files for XRP ETF Amid Rising Altcoin Adoption

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Franklin Templeton has filed for an exchange-traded fund (ETF) tracking the spot price of XRP, highlighting the growing interest of asset managers in digital assets beyond Bitcoin. The filing, submitted on Tuesday, is part of a broader trend of increasing cryptocurrency ETF applications, fueled by expectations of a more favorable stance from the U.S. Securities and Exchange Commission under President Donald Trump’s administration.

This move follows Franklin Templeton’s recent filing for a Solana-based ETF last month and Grayscale Investments’ launch of a Dogecoin fund in January.

XRP, developed by U.S. crypto firm Ripple, is the world’s fourth-largest cryptocurrency, with a market capitalization of approximately $124 billion, according to CoinGecko. The token has surged more than threefold over the past year and is among the digital assets Trump has proposed for inclusion in a new strategic reserve.

Franklin Templeton’s XRP ETF is set to be listed on the Cboe BZX Exchange, with Coinbase designated as the custodian for the fund’s XRP holdings.

Starlink Partners with Airtel to Compete with Reliance Jio in India’s Broadband Market

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Elon Musk’s Starlink has signed a strategic partnership with India’s second-largest telecom company, Airtel, to bring satellite internet services to the country, intensifying competition with Mukesh Ambani’s Reliance Jio. The agreement, contingent on government approval, will allow Starlink to leverage Airtel’s retail network for distribution across India.

Airtel stated on Tuesday that the companies would explore ways to utilize each other’s network infrastructure to improve coverage, though specific details were not disclosed. Additionally, Airtel will consider offering Starlink services to its business and enterprise customers.

The announcement follows Indian Prime Minister Narendra Modi’s recent meeting with Musk in Washington, where they discussed technology, space, and innovation.

Starlink’s entry into India has faced regulatory hurdles, particularly a dispute with Reliance Jio over spectrum allocation. While Reliance Jio pushed for a spectrum auction, the Indian government aligned with Musk’s stance favoring administrative allocation, a move in line with global practices. Analysts suggest an auction would have required significantly higher investment, potentially discouraging foreign entrants.

Reliance Jio, which invested $19 billion in spectrum auctions, is concerned that Starlink could capture broadband users and eventually disrupt its data and voice services.

Airtel already has a similar partnership with global satellite operator Eutelsat, where its parent company holds a stake. Meanwhile, Eutelsat’s OneWeb and Reliance Jio have secured approvals from India’s space regulator to launch commercial satellite broadband services.

Brazil May Revise Fintech Reporting Rules Over Money Laundering Risks

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Brazil’s tax revenue agency is expected to revisit discussions on requiring financial technology companies to report transaction values amid concerns over money laundering, agency head Robinson Barreirinhas said on Tuesday.

Speaking at a Senate hearing, Barreirinhas highlighted strong evidence that lesser-known payment institutions are being exploited for illicit financial activities. The government had initially planned to extend transaction-tracking requirements to fintechs but suspended the measure last year following public backlash.

“I don’t want to demonize fintechs … but the truth is that many end up being used (for illicit transactions) due to the ease of opening accounts,” Barreirinhas stated, emphasizing the need for stricter regulations on account openings.

In September, Brazil’s tax agency issued a rule mandating fintechs to report transactions—including those made via the widely used Pix instant payment system—aligning their reporting obligations with traditional banks. However, opposition to President Luiz Inácio Lula da Silva framed the measure as an effort to impose new taxes on workers, leading the administration to suspend the rule in January after a sharp decline in Lula’s approval ratings.

Barreirinhas also voiced concerns about organized crime financing in Brazil, citing illicit trade in smuggled cigarettes, e-cigarettes, cryptocurrencies, and online betting as key issues requiring regulatory attention.