XRP News: SBI Expands XRP Use in Japan With New Reward Program

Monicah W

XRP News

The post XRP News: SBI Expands XRP Use in Japan With New Reward Program appeared first on Coinpedia Fintech News

Japan is making headlines as Aplus, a credit card company under Shinsei Bank, teams up with SBI VC Trade to let cardholders convert their reward points into cryptocurrencies, including XRP, Bitcoin, and Ethereum. 

This marks the first time a major Japanese credit card rewards program allows direct point-to-crypto conversion. The program officially launched on July 8, 2025, and reflects SBI Holdings’ growing push to integrate XRP into everyday finance.

Real-World Use Case Gives XRP a Boost

For every 200 yen spent with an Aplus credit card, users earn 1 point. Once they collect 2,100 points, worth just over 2,000 yen (roughly $13–$15), they can redeem them for XRP, BTC, or ETH via the SBI VC Trade platform. This bridges daily spending with digital assets, giving mainstream users easy, cash-free exposure to the crypto market.

Moreover, XRP isn’t just any random token in the changing digital finance. SBI has backed it for years, using it for fast, low-cost payments and listing it first on its crypto exchange in 2018. Now, with Aplus letting users earn XRP through credit card points, SBI is blending everyday finance with blockchain. It’s a clear step toward making crypto more mainstream in Japan, and it might push other Asian banks to follow suit.

Crypto for the Curious-No Cash, No Risk

While the point-to-crypto value is modest, the program makes it easier for crypto-curious consumers to dip their toes in the digital asset world without financial risk. It’s ideal for beginners or cautious users who want to explore crypto through familiar systems like credit card points.

This development echoes similar global trends, with major players like Mastercard and Amex offering crypto rewards through partners like Coinbase and BlockFi. However, Japan’s Aplus program stands out thanks to clear regulatory backing by the Financial Services Agency (FSA), which ensures consumer protection and regulatory compliance.

On the Downside…

Though the initiative is exciting, it comes with a few strings. The crypto redemption value is relatively small, asset management is the user’s responsibility, and taxes may apply if the redeemed crypto appreciates. Also, the rules around how frequently points can be converted are still unclear, meaning the long-term appeal will depend on how the program evolves.

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Former JP Morgan Exec and Crypto Casino Founder Charged With Securities Fraud

Richard Kim, founder of Zero Edge, a defunct “crypto casino,” was arrested and subsequently released on bail in a federal securities fraud case. After an arrest on Tuesday, Kim posted a $250,000 bond using $100,000 in cash as collateral.

Before Zero Edge, Kim had an esteemed career at major institutes like JP Morgan and Goldman Sachs. The Southern District of New York (SDNY) is hearing this case.

How Richard Kim’s Crypto Casino Collapsed

Before everything fell apart, Richard Kim was ostensibly a successful crypto entrepreneur. A former executive at Galaxy Digital, an attorney, and an elite trader, he left in March 2024 to found Zero Edge.

This “crypto casino” would bring classical gambling onto the blockchain, according to a recent court document:

“In particular, Kim represented to prospective investors that Zero Edge would ‘develop a number of onchain games,’ beginning with craps, and operate both a ‘free to play / social casino version of the game’ in which players could win virtual currency, as well as a real money version of the game. KIM wrote that he would serve as the ‘chief architect’ of the company,” it read.

Kim leveraged his former connections, including those at Galaxy, to raise over $7 million in seed funding. However, Kim’s casino never opened.

According to his public statements, Kim initially lost $80,000 to a phishing scam and blew through $3.8 million by chasing losses in “high-risk leveraged crypto trades.” This happened within a week of his initial funding round.

From there, he misled investors for months before finally coming clean last June, describing himself as a gambling addict. Several of the casino’s investors, including Galaxy, filed complaints that progressed to federal charges this week.

The FBI arrested Kim on charges of wire fraud and securities fraud, and he is being tried in the Southern District of New York (SDNY).

In the grand scheme of things, Kim’s aborted attempt to open a digital casino is on the smaller end of crypto crimes. Nonetheless, it’s important that the federal government actually seeks to prosecute him.

For example, the Department of Justice recently shut down its Crypto Enforcement Team and stopped investigating tumblers and exchanges. “Crime is legal now” is a growing refrain in the community, as regulators are halting all enforcement.

Even the SDNY, which is handling Kim’s casino case, claimed it would end crypto prosecutions.

This may be a small win for justice, but fresh crypto cases are being tried. Kim is currently out on bail, but he still faces repercussions for his failed casino. Whatever happens, its results will be an important data point for US crypto enforcement.

The post Former JP Morgan Exec and Crypto Casino Founder Charged With Securities Fraud appeared first on BeInCrypto.

Will Crypto Market Crash Tomorrow After Federal Reserve Interest Rate Decision?

Will Crypto Market Crash Tomorrow After Federal Reserve Interest Rate Decision?

The cryptocurrency market is monitoring the upcoming Federal Open Market Committee (FOMC) meeting, which is set to conclude on March 19, 2025. Investors are awaiting the Federal Reserve’s stance on interest rates, as any adjustments could influence the crypto market.

Federal Reserve Expected to Hold Interest Rates Steady

The Federal Reserve is widely expected to maintain the current interest rate range between 4.25% and 4.5% after its March meeting. Despite ongoing speculation about potential cuts, Federal Reserve Chair Jerome Powell has consistently indicated caution in adjusting rates. Powell points to inflation concerns and global economic uncertainties.

Some economists suggest that rate cuts may not occur until later in the year. Consequently, Fed rate cuts are projected around June 2025, as inflation remains a focal point of monetary decisions. Powell’s post-meeting press conference at 2:30 p.m. ET is expected to provide further insight into the Fed’s future approach.

With the Federal Reserve’s FOMC meeting expected to conclude tomorrow, crypto investors remain on edge about interest rate decisions. While market analysts predict that rates will stay unchanged, uncertainty surrounding inflation, trade policies, and economic growth continues to fuel volatility.

Crypto Market To Crash?

Bitcoin (BTC) has been fluctuating around $85K as the crypto market is in a volatile phase before the FOMC announcement. Many traders believe a crypto market crash could follow if the Fed signals a prolonged period of high interest rates.

Specifically, higher interest rates usually benefit more traditional types of investments such as bonds and savings accounts. As a result of this, capital is leaked from riskier assets such as cryptocurrencies. Conversely, rate cuts can boost liquidity and drive more money into speculative assets, including Bitcoin and altcoins.

Incase the Federal Reserve signals that rate cuts are approaching, a surge in altcoin prices could follow. This is because increased liquidity would likely encourage higher risk appetite among traders.

However, if the central bank keeps rates high for an extended period, crypto markets may decline. Tightening financial conditions could drive further losses.

With investors awaiting Powell’s remarks, the next 24 hours could determine whether the market stabilizes or experiences a crypto market crash.

The post Will Crypto Market Crash Tomorrow After Federal Reserve Interest Rate Decision? appeared first on CoinGape.

Pi Coin Nears All-Time Low, Breaks Correlation With Bitcoin’s Rally

Pi Coin has recently experienced a notable decline, with its price now nearing an all-time low. This downtrend comes as the altcoin seems to be pulling away from Bitcoin’s market movements, despite Bitcoin nearing its all-time high.

As Pi Coin fails to keep up with Bitcoin’s growth, the bearish sentiment surrounding the altcoin continues to increase.

Pi Coin Steps Away From Gains

The Chaikin Money Flow (CMF) indicator is showing signs of worsening sentiment for Pi Coin. The CMF is nearing the zero line, signaling a shift where outflows are starting to dominate over inflows. For the past three weeks, Pi Coin has maintained some level of investor confidence, but that confidence is now waning. 

If the CMF falls through the zero line, it would indicate that investors are pulling their money out of Pi Coin. This loss of faith in the coin’s future could lead to further price declines and increased volatility.

Pi Network CMF
Pi Network CMF. Source: TradingView

Furthermore, the correlation between the Pi Coin and Bitcoin has steadily decreased. Currently, the correlation is sitting at just 0.07, a stark contrast to the positive relationship the two coins once shared. 

A low or negative correlation means that Pi Coin is moving independently of Bitcoin. This is concerning for investors who have relied on Bitcoin’s momentum to drive altcoins like Pi forward.

With Bitcoin closing in on new highs, Pi Coin is struggling to follow suit. The lack of correlation means that Pi Coin isn’t benefiting from Bitcoin’s growth. This disconnect puts Pi Coin at risk of missing out on market-wide bullish trends, making it susceptible to further losses.

Pi Network Correlation With Bitcoin.
Pi Network Correlation With Bitcoin. Source: TradingView

Pi Coin Price Needs A Bump

Pi Coin’s price is currently hovering around $0.499, which is approximately 20% higher than its all-time low of $0.400. However, the overall market environment suggests further decline may be imminent. With continued bearish sentiment and decreasing confidence in Pi Coin, the altcoin could struggle to maintain its current levels.

If Pi Coin loses the support level of $0.493, it may drop further, potentially testing the $0.450 mark. A sustained decline below this support would make Pi Coin vulnerable to hitting its all-time low again. The ongoing outflows and negative market sentiment only add pressure to Pi Coin’s price, keeping it on a downward trajectory.

Pi Network Price Analysis.
Pi Network Price Analysis. Source: TradingView

However, should the altcoin experience a shift in momentum, Pi Coin could find demand from investors looking to capitalize on a potential recovery. If the coin breaches $0.518 and flips into support, it could open the door for a price rebound. A reversal of momentum would allow Pi Coin to regain some investor confidence and potentially invalidate the current bearish outlook.

The post Pi Coin Nears All-Time Low, Breaks Correlation With Bitcoin’s Rally appeared first on BeInCrypto.