In the ever-evolving landscape of digital assets, classifications matter. How a cryptocurrency or token is defined can have significant implications for its regulatory treatment, adoption, and public perception. Recently, a notable comment from a key figure in the venture capital and policy space sparked considerable discussion within the XRP community and the broader crypto world. Miles Jennings, General Counsel and Head of Policy at a16z crypto , referred to XRP as a “ network token ” during an interview. This seemingly simple label carries weight, especially coming from someone with Jennings’ background at a prominent firm like Andreessen Horowitz (a16z), known for its deep investments and policy advocacy in the crypto sector. But what exactly does calling XRP a “ network token ” signify? Why is this particular phrasing noteworthy, and what could it mean for the future trajectory of XRP and the ongoing conversations around crypto regulation ? Who is Miles Jennings and Why Does a16z Crypto’s View Matter? Before diving into the implications of the “ network token ” comment, it’s essential to understand the source. Miles Jennings is a prominent voice in the crypto policy arena. As General Counsel and Head of Policy at a16z crypto , he is at the forefront of shaping legal and regulatory discussions surrounding digital assets in the United States and globally. Andreessen Horowitz (a16z) is one of the most influential venture capital firms in Silicon Valley, with a dedicated crypto fund that has invested heavily in various blockchain projects and companies. A firm like a16z crypto doesn’t just invest; it actively engages with policymakers, regulators, and the public to advocate for frameworks that it believes will foster innovation while providing necessary safeguards. Therefore, when a leader like Miles Jennings offers a specific classification for an asset as widely discussed and debated as XRP , it’s not merely an offhand remark. It’s a potentially considered statement that reflects a certain perspective or desired framing within influential circles. The Context: Where Did This “Network Token” Idea Emerge? The comment by Miles Jennings was made during an interview with Eleanor Terrett on CryptoAmerica. The information was then highlighted and shared by Crypto Investment Group on X (formerly Twitter), bringing it to the attention of a wider audience, particularly those following XRP and crypto regulation news. The context of a policy-focused interview provides a strong indication that the classification wasn’t casual but likely part of a broader discussion about how different digital assets should be understood and potentially regulated. Understanding the context helps frame the significance. It wasn’t a technical deep-dive into the XRP Ledger’s consensus mechanism, but rather a policy-oriented conversation where the legal and functional nature of various tokens is paramount. In such a setting, labeling XRP as a “ network token ” serves a specific purpose, potentially positioning it in a category distinct from those currently facing the most intense regulatory scrutiny. Deconstructing “Network Token”: What Does It Mean for XRP? The term “ network token ” is not a strictly defined legal or technical term that is universally agreed upon. However, within the crypto industry and policy discussions, different terms are used to try and categorize the vast array of digital assets based on their function, structure, and relationship to an underlying network or platform. Common classifications include: Security Tokens: Represent ownership in an underlying asset or enterprise, similar to traditional stocks or bonds, and are typically subject to securities laws. Utility Tokens: Intended to provide access to a specific product or service on a blockchain network. Commodity Tokens: Assets like Bitcoin, often viewed as digital commodities. Governance Tokens: Grant holders voting rights in the future development of a protocol. So, where does “ network token ” fit in? Based on how the term is sometimes used, particularly in policy discussions, it likely emphasizes the token’s fundamental role in the operation, security, or functionality of its native blockchain network. A “ network token ” might be seen as intrinsic to the network itself, perhaps used for transaction fees (like gas on Ethereum), securing the network through staking or validation, or facilitating the core purpose of the network. For XRP , which is the native asset of the XRP Ledger, the “ network token ” label makes intuitive sense in this context. The XRP Ledger is designed for fast, low-cost payments, and XRP is the bridge currency that can be used to facilitate these transactions globally without relying on a single central intermediary. Every transaction on the XRP Ledger requires a small amount of XRP to be destroyed (a fee mechanism to prevent spam), directly tying the token to the network’s operation. This functional relationship is key. By calling XRP a “ network token ,” Miles Jennings seems to be highlighting its integral role in the functioning of the XRP Ledger. This framing could be intended to distinguish XRP from assets primarily sold as investment contracts (which might be deemed securities) and instead focus on its utility as an operational component of a decentralized payment network. XRP and the XRP Ledger: More Than Just a Token? To fully appreciate the “ network token ” label, one must understand the technology it powers. The XRP Ledger (XRPL) is an open-source, permissionless, and decentralized blockchain technology. It was designed with payments in mind, aiming to provide a faster, cheaper, and more scalable alternative to traditional payment systems. XRP is the digital asset native to the XRPL. Key features of the XRP Ledger include: Consensus Mechanism: Uses a unique consensus protocol (XRP Ledger Consensus Protocol) involving a list of trusted validators (Unique Node List – UNL) to quickly and securely validate transactions without relying on proof-of-work (like Bitcoin) or proof-of-stake (like Ethereum 2.0). Transaction Speed and Cost: Capable of processing transactions in seconds with very low fees. Decentralization: While often associated with Ripple Labs (a technology company that builds on the XRPL and uses XRP for some of its products), the XRPL itself is operated by a decentralized network of participants running validator nodes. XRP’s Role: Primarily serves as a bridge currency to facilitate cross-currency transactions efficiently. It can also be held speculatively or used for its inherent value. When viewed through this lens, XRP isn’t just a token issued by a company; it’s an essential element for the functioning and utility of the XRP Ledger itself. This perspective strongly supports the “ network token ” classification. The Significance of Classification: Navigating Crypto Regulation The debate over how to classify digital assets is at the heart of crypto regulation globally, especially in the United States. Regulatory bodies like the Securities and Exchange Commission (SEC) primarily use existing frameworks, such as the Howey Test, to determine if a digital asset is an investment contract and therefore a security. If an asset is deemed a security, it falls under stringent regulations regarding issuance, trading, and disclosure. The classification of a token as a “ network token ” could be a strategic attempt to place it outside the scope of securities laws, focusing instead on its functional role within a decentralized network. This is particularly relevant for XRP , given its history with the SEC. How Does This View Align with XRP’s Regulatory Journey? XRP’s regulatory status has been the subject of intense legal battles, most notably the lawsuit filed by the U.S. SEC against Ripple Labs and its executives in December 2020. The SEC alleged that Ripple conducted an unregistered securities offering by selling XRP . A pivotal moment occurred in July 2023, when Judge Analisa Torres issued a summary judgment ruling in the SEC vs. Ripple case. The judge ruled that programmatic sales of XRP on public exchanges did not constitute investment contracts (and thus were not unregistered securities offerings). However, the ruling also stated that institutional sales of XRP *did* constitute investment contracts. This split ruling created some clarity but also left ambiguities. The judge’s reasoning for the programmatic sales often highlighted the blind bid/ask transactions where buyers did not know they were buying directly from Ripple, distinguishing it from a traditional investment contract where an investor expects profits derived from the efforts of others (the issuer). Miles Jennings’ classification of XRP as a “ network token ” aligns conceptually with the part of the ruling that distinguished certain types of XRP sales from securities. By focusing on XRP’s role in the network itself, rather than solely as an asset purchased speculatively with an expectation of profit from Ripple’s efforts, the “ network token ” label reinforces the idea that XRP serves a primary function beyond being a mere investment vehicle offered by an issuing entity. It positions XRP as an operational necessity for a decentralized network, a perspective that could be favorable in future regulatory discussions or legal interpretations. Benefits and Challenges of the “Network Token” Label Adopting or advocating for the “ network token ” classification for XRP presents potential benefits and challenges: Potential Benefits: Regulatory Clarity: Could help distinguish XRP from assets more likely to be classified as securities, potentially reducing regulatory uncertainty surrounding its use and trading. Focus on Utility: Emphasizes XRP’s functional role within the XRP Ledger, aligning with its design purpose for facilitating payments. Increased Adoption: A clearer, more favorable regulatory outlook could encourage financial institutions and developers to build on or utilize the XRP Ledger and XRP . Market Perception: May positively influence how investors and the public perceive XRP , shifting the focus from speculative asset to essential network component. Potential Challenges: Lack of Formal Definition: “ Network token ” is not a legally defined term, meaning its interpretation can vary and may not be universally accepted by regulators. Does Not Erase History: This classification doesn’t undo past legal challenges or completely resolve all regulatory questions, particularly concerning institutional sales or Ripple’s ongoing involvement. Applicability to Other Assets: If XRP is a “ network token ,” how does this apply to other cryptocurrencies like ETH (used for gas on Ethereum) or even BTC (native to the Bitcoin network)? The definition could become broad. Potential for Misinterpretation: Some might still view it as an attempt to sidestep necessary regulations rather than a genuine functional classification. Despite the challenges, the push for clearer, more functional classifications like “ network token ” reflects a broader desire within the industry for regulatory frameworks that understand the nuances of blockchain technology and digital assets beyond traditional financial instruments. Comparing XRP to Other Crypto Assets The classification debate isn’t unique to XRP . Bitcoin (BTC), the first cryptocurrency, is often viewed as a commodity. Ethereum (ETH), with its transition to proof-of-stake and its use for transaction fees (gas) and decentralized applications, presents a complex case, with some arguing it has characteristics of both a commodity and a utility. Many other tokens face similar questions about whether they are securities, utilities, or something else entirely. If XRP is a “ network token ” due to its essential role in the XRP Ledger, one could argue that ETH is also a “ network token ” for the Ethereum network, and even BTC is a “ network token ” for the Bitcoin network, securing it through mining and enabling transactions. This highlights that the term “ network token ” might be more of a descriptive category emphasizing the asset’s intrinsic link to its blockchain, rather than a rigid legal definition. The key regulatory question often boils down to *how* the token was offered and sold, and the expectations created around it, which is where XRP’s regulatory journey has been particularly complex. What Does This Mean for You? Actionable Insights For those interested in XRP , the broader crypto market, or crypto regulation , Miles Jennings’ comment and the concept of a “ network token ” offer several takeaways: Stay Informed: Token classification is a critical aspect of the regulatory landscape. Pay attention to how policymakers, regulators, and influential industry figures are defining and categorizing different assets. Understand the Technology: Don’t just focus on price. Learn about the underlying network (like the XRP Ledger) and the functional role the token plays within it. This understanding is key to appreciating classifications like “ network token “. Regulatory Nuance is Key: The SEC vs. Ripple ruling showed that classification can be complex and depend on the specific circumstances of issuance and sale. A single label like “ network token ” is valuable for framing but doesn’t automatically resolve all legal questions. Consider the Source: Comments from figures at influential firms like a16z crypto often signal potential policy directions or industry perspectives. While not official rulings, they contribute to the ongoing dialogue around crypto regulation . Look Beyond the Label: While “ network token ” is a useful descriptor, continue to evaluate XRP (or any asset) based on its use cases, adoption, development, and the overall health of its ecosystem. Looking Ahead: The Future of XRP and Token Classification The conversation initiated by Miles Jennings is likely to continue. As regulatory bodies around the world work towards establishing clearer rules for digital assets, industry input and proposed frameworks become increasingly important. The concept of a “ network token ” provides a potential way to categorize assets based on their fundamental technological purpose, which could be a valuable lens for developing fit-for-purpose regulations. For XRP , this framing reinforces the arguments made by Ripple and its supporters about XRP’s utility and its distinct nature compared to traditional securities. While the legal battles may not be entirely over, influential voices adopting terms like “ network token ” contribute to a narrative that could be favorable for XRP’s future as a widely used asset on the XRP Ledger. Conclusion Miles Jennings’ comment labeling XRP a “ network token ” is more than just semantics. Coming from a leader at a16z crypto , it’s a significant contribution to the ongoing, crucial debate about how digital assets should be classified and regulated. The “ network token ” concept highlights XRP’s integral role in the functioning of the XRP Ledger, positioning it based on its technological utility rather than solely as an investment product. While not a formal legal definition, this perspective aligns with certain aspects of XRP’s regulatory journey and provides a framework that could foster greater clarity and potentially favorable regulatory outcomes in the future. As the crypto space matures, understanding these nuances in classification will be absolutely crucial for navigating the market, understanding regulatory developments, and appreciating the true nature of assets like XRP . To learn more about the latest crypto regulation trends, explore our article on key developments shaping XRP institutional adoption.
The cryptocurrency market stands on the precipice of potential volatility as Bitcoin hovers around $92,500, a crucial psychological level. Market indicators suggest that elevated leveraging coinciding with significant on-chain support
Bangkok, Thailand, April 25th, 2025, Chainwire Saison Capital , BRI Ventures , and Coinvestasi have officially launched Tokenize Indonesia , a new accelerator program aimed at identifying and supporting Real-World Asset (RWA) start-ups in the blockchain and tokenization space. The initiative seeks to drive innovation and adoption of tokenized assets in Indonesia, building on findings from the November 2024 report “ Project Wira – Indonesia’s Asset Tokenization Opportunity”, which estimates a US$88 billion market potential for asset tokenization in the country. Tokenize Indonesia will run from April to August 2025, and shortlisted start-ups will run Proof Of Concepts (POCs) with leading corporations across Indonesia, including financial institutions like Bank Rakyat Indonesia (BRI) and telecommunication providers like Telkom Indonesia. The program culminates in August when shortlisted start-ups will be showcased at Asia’s largest crypto festival, Coinfest Asia, on 21 – 22 August in Bali. The launch announcement for Tokenize Indonesia was made at ONCHAIN 2025 – an annual conference led by Saison Capital, D3 Labs, Helix, and Emurgo – which brings together leading investors, founders, and leaders in the RWA industry across both traditional finance and fintech. This year over 500 people attended the event in Bangkok. “At Saison Capital, we believe that blockchain technology and its widespread benefits are foundational in shaping the future of inclusive finance, transforming existing financial systems, and creating more equity for all. Despite the current market volatility, we remain active investors in blockchain startups solving real-world finance problems. It is crucial that we rally key partners to drive greater support for founders to solve existing challenges faced by corporations, and are glad to have found like-minded partners such as BRI Ventures and Coinvestasi,” said Qin En Looi, Partner at Saison Capital. “As the venture arm of one of Indonesia’s leading financial groups, BRI Ventures is committed to continuously exploring and investing in transformative technologies that will shape the future of finance in Indonesia. Our goal is to foster meaningful collaboration between well-established financial institutions and innovative, fast-moving technology partners. By bridging these two worlds, we aim to catalyze sustainable growth, drive financial inclusion, and accelerate the adoption of digital assets across Indonesia, said Markus Liman Rahardja, Chief Investment Officer at BRI Ventures. “With over 20 million crypto users, Indonesia now ranks third globally in web3 adoption—clear evidence of a thriving ecosystem. We are witnessing rapid growth in developer talent, institutional engagement, and regulatory clarity, all laying the foundation for long-term progress. At Coinvestasi, our role is to connect the ecosystem: fostering dialogue, sharing insights, and enabling partnerships that drive the industry forward,” said Steven Suhadi, Founder of Coinvestasi. Indonesia’s blockchain and tokenization ecosystem is evolving rapidly, supported by a tech-savvy demographic, an expanding middle class, a growing fintech sector, and increasing adoption of digital payment infrastructure. These factors are contributing to the foundational environment for blockchain-based innovations to emerge and scale. Project Wira, a report developed by BRI Ventures, Saison Capital, D3 Labs, and Tiger Research, highlights blockchain’s potential to transform Indonesia’s financial ecosystem. 7% of Indonesia’s population own digital assets, far surpassing the 6.4 million stock investors on the Indonesia Stock Exchange (IDX), with more potential for greater adoption to come. Innovations have already been sprouting up in the areas of digital money, commodities, bonds, carbon credits, and real estate. The report estimates that demand for asset tokenization in Indonesia could reach US$88 billion by 2030. For RWA start-ups interested in capturing the immense opportunity in Indonesia, users can apply to Tokenize Indonesia: https://tokenizeindonesia.com About Saison Capital Saison Capital is an early-stage venture capital fund (pre-seed to Series B) with a focus on emerging markets. The firm backs ambitious founders at the pre-seed or seed stage and focuses on web3, fintech, and commerce. Operating from the Asia Pacific region but deploying capital on a global scale, Saison Capital harnesses Credit Saison’s extensive financial services operating background and resources across key markets, including Singapore, Indonesia, India, Vietnam, Thailand, Philippines, Cambodia, Japan, Brazil, and Mexico. Saison Capital is a wholly-owned subsidiary of Credit Saison. About BRI Ventures BRI Ventures is the corporate venture capital arm of Bank Rakyat Indonesia (BRI), Indonesia’s largest and most inclusive bank. With a mission to drive innovation and financial inclusion, BRI Ventures invests in early to growth-stage startups that are reshaping the future of financial services, MSME empowerment, and the digital economy. Backed by BRI’s deep expertise in financial services and extensive reach, BRI Ventures provides not just capital, but also strategic support, market access, and collaborative opportunities to help visionary founders scale their impact across Indonesia and beyond. About Coinvestasi Coinvestasi is Indonesia’s top Web3 and crypto media platforms, reaching 4M+ users monthly. As part of Indonesia Crypto Network (ICN)—the parent company behind major initiatives like Coinfest Asia— Coinvestasi connects global projects with local audiences and drives Web3 adoption across the ecosystem. Contact: Looi Qin En Saison Capital qinen@saisoncapital.com Contact Andrew Cheong Saison International andrew.cheong@saison-international.com
April 25th, 2025 – Bangkok, Thailand Saison Capital , BRI Ventures , and Coinvestasi have officially launched Tokenize Indonesia , a new accelerator program aimed at identifying and supporting Real-World Asset (RWA) start-ups in the blockchain and tokenization space. The initiative seeks to drive innovation and adoption of tokenized assets in Indonesia, building on findings from the November 2024 report “ Project Wira – Indonesia’s Asset Tokenization Opportunity”, which estimates a US$88 billion market potential for asset tokenization in the country. Tokenize Indonesia will run from April to August 2025, and shortlisted start-ups will run Proof Of Concepts (POCs) with leading corporations across Indonesia, including financial institutions like Bank Rakyat Indonesia (BRI) and telecommunication providers like Telkom Indonesia. The program culminates in August when shortlisted start-ups will be showcased at Asia’s largest crypto festival, Coinfest Asia, on 21 – 22 August in Bali. The launch announcement for Tokenize Indonesia was made at ONCHAIN 2025 – an annual conference led by Saison Capital, D3 Labs, Helix, and Emurgo – which brings together leading investors, founders, and leaders in the RWA industry across both traditional finance and fintech. This year over 500 people attended the event in Bangkok. “At Saison Capital, we believe that blockchain technology and its widespread benefits are foundational in shaping the future of inclusive finance, transforming existing financial systems, and creating more equity for all. Despite the current market volatility, we remain active investors in blockchain startups solving real-world finance problems. It is crucial that we rally key partners to drive greater support for founders to solve existing challenges faced by corporations, and are glad to have found like-minded partners such as BRI Ventures and Coinvestasi,” said Qin En Looi, Partner at Saison Capital. “As the venture arm of one of Indonesia’s leading financial groups, BRI Ventures is committed to continuously exploring and investing in transformative technologies that will shape the future of finance in Indonesia. Our goal is to foster meaningful collaboration between well-established financial institutions and innovative, fast-moving technology partners. By bridging these two worlds, we aim to catalyze sustainable growth, drive financial inclusion, and accelerate the adoption of digital assets across Indonesia, said Markus Liman Rahardja, Chief Investment Officer at BRI Ventures. “With over 20 million crypto users, Indonesia now ranks third globally in web3 adoption—clear evidence of a thriving ecosystem. We are witnessing rapid growth in developer talent, institutional engagement, and regulatory clarity, all laying the foundation for long-term progress. At Coinvestasi, our role is to connect the ecosystem: fostering dialogue, sharing insights, and enabling partnerships that drive the industry forward,” said Steven Suhadi, Founder of Coinvestasi. Indonesia’s blockchain and tokenization ecosystem is evolving rapidly, supported by a tech-savvy demographic, an expanding middle class, a growing fintech sector, and increasing adoption of digital payment infrastructure. These factors are contributing to the foundational environment for blockchain-based innovations to emerge and scale. Project Wira, a report developed by BRI Ventures, Saison Capital, D3 Labs, and Tiger Research, highlights blockchain’s potential to transform Indonesia’s financial ecosystem. 7% of Indonesia’s population own digital assets, far surpassing the 6.4 million stock investors on the Indonesia Stock Exchange (IDX), with more potential for greater adoption to come. Innovations have already been sprouting up in the areas of digital money, commodities, bonds, carbon credits, and real estate. The report estimates that demand for asset tokenization in Indonesia could reach US$88 billion by 2030. For RWA start-ups interested in capturing the immense opportunity in Indonesia, users can apply to Tokenize Indonesia: https://tokenizeindonesia.com About Saison Capital Saison Capital is an early-stage venture capital fund (pre-seed to Series B) with a focus on emerging markets. The firm backs ambitious founders at the pre-seed or seed stage and focuses on web3, fintech, and commerce. Operating from the Asia Pacific region but deploying capital on a global scale, Saison Capital harnesses Credit Saison’s extensive financial services operating background and resources across key markets, including Singapore, Indonesia, India, Vietnam, Thailand, Philippines, Cambodia, Japan, Brazil, and Mexico. Saison Capital is a wholly-owned subsidiary of Credit Saison. About BRI Ventures BRI Ventures is the corporate venture capital arm of Bank Rakyat Indonesia (BRI), Indonesia’s largest and most inclusive bank. With a mission to drive innovation and financial inclusion, BRI Ventures invests in early to growth-stage startups that are reshaping the future of financial services, MSME empowerment, and the digital economy. Backed by BRI’s deep expertise in financial services and extensive reach, BRI Ventures provides not just capital, but also strategic support, market access, and collaborative opportunities to help visionary founders scale their impact across Indonesia and beyond. About Coinvestasi Coinvestasi is Indonesia’s top Web3 and crypto media platforms, reaching 4M+ users monthly. As part of Indonesia Crypto Network (ICN)—the parent company behind major initiatives like Coinfest Asia— Coinvestasi connects global projects with local audiences and drives Web3 adoption across the ecosystem. Contact: Looi Qin En Saison Capital qinen@saisoncapital.com Contact Andrew Cheong Saison International andrew.cheong@saison-international.com This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on X Facebook Telegram Check out the Latest Industry Announcements The post Saison Capital, BRI Ventures & Coinvestasi Launches Tokenize Indonesia – a RWA Startup Accelerator appeared first on The Daily Hodl .
Bangkok, Thailand, April 25th, 2025, Chainwire Saison Capital , BRI Ventures , and Coinvestasi have officially launched Tokenize Indonesia, a new accelerator program aimed at identifying and supporting Real-World Asset (RWA) start-ups in the blockchain and tokenization space. The initiative seeks to drive innovation and adoption of tokenized assets in Indonesia, building on findings from the November 2024 report “ Project Wira – Indonesia’s Asset Tokenization Opportunity”, which estimates a US$88 billion market potential for asset tokenization in the country. Tokenize Indonesia will run from April to August 2025, and shortlisted start-ups will run Proof Of Concepts (POCs) with leading corporations across Indonesia, including financial institutions like Bank Rakyat Indonesia (BRI) and telecommunication providers like Telkom Indonesia. The program culminates in August when shortlisted start-ups will be showcased at Asia’s largest crypto festival, Coinfest Asia, on 21 - 22 August in Bali. The launch announcement for Tokenize Indonesia was made at ONCHAIN 2025 - an annual conference led by Saison Capital, D3 Labs, Helix, and Emurgo - which brings together leading investors, founders, and leaders in the RWA industry across both traditional finance and fintech. This year over 500 people attended the event in Bangkok. “At Saison Capital, we believe that blockchain technology and its widespread benefits are foundational in shaping the future of inclusive finance, transforming existing financial systems, and creating more equity for all. Despite the current market volatility, we remain active investors in blockchain startups solving real-world finance problems. It is crucial that we rally key partners to drive greater support for founders to solve existing challenges faced by corporations, and are glad to have found like-minded partners such as BRI Ventures and Coinvestasi,” said Qin En Looi, Partner at Saison Capital. “As the venture arm of one of Indonesia’s leading financial groups, BRI Ventures is committed to continuously exploring and investing in transformative technologies that will shape the future of finance in Indonesia. Our goal is to foster meaningful collaboration between well-established financial institutions and innovative, fast-moving technology partners. By bridging these two worlds, we aim to catalyze sustainable growth, drive financial inclusion, and accelerate the adoption of digital assets across Indonesia, said Markus Liman Rahardja, Chief Investment Officer at BRI Ventures. “With over 20 million crypto users, Indonesia now ranks third globally in web3 adoption—clear evidence of a thriving ecosystem. We are witnessing rapid growth in developer talent, institutional engagement, and regulatory clarity, all laying the foundation for long-term progress. At Coinvestasi, our role is to connect the ecosystem: fostering dialogue, sharing insights, and enabling partnerships that drive the industry forward,” said Steven Suhadi, Founder of Coinvestasi. Indonesia’s blockchain and tokenization ecosystem is evolving rapidly, supported by a tech-savvy demographic, an expanding middle class, a growing fintech sector, and increasing adoption of digital payment infrastructure. These factors are contributing to the foundational environment for blockchain-based innovations to emerge and scale. Project Wira, a report developed by BRI Ventures, Saison Capital, D3 Labs, and Tiger Research, highlights blockchain’s potential to transform Indonesia's financial ecosystem. 7% of Indonesia’s population own digital assets, far surpassing the 6.4 million stock investors on the Indonesia Stock Exchange (IDX), with more potential for greater adoption to come. Innovations have already been sprouting up in the areas of digital money, commodities, bonds, carbon credits, and real estate. The report estimates that demand for asset tokenization in Indonesia could reach US$88 billion by 2030. For RWA start-ups interested in capturing the immense opportunity in Indonesia, users can apply to Tokenize Indonesia: https://tokenizeindonesia.com About Saison Capital Saison Capital is an early-stage venture capital fund (pre-seed to Series B) with a focus on emerging markets. The firm backs ambitious founders at the pre-seed or seed stage and focuses on web3, fintech, and commerce. Operating from the Asia Pacific region but deploying capital on a global scale, Saison Capital harnesses Credit Saison's extensive financial services operating background and resources across key markets, including Singapore, Indonesia, India, Vietnam, Thailand, Philippines, Cambodia, Japan, Brazil, and Mexico. Saison Capital is a wholly-owned subsidiary of Credit Saison. About BRI Ventures BRI Ventures is the corporate venture capital arm of Bank Rakyat Indonesia (BRI), Indonesia’s largest and most inclusive bank. With a mission to drive innovation and financial inclusion, BRI Ventures invests in early to growth-stage startups that are reshaping the future of financial services, MSME empowerment, and the digital economy. Backed by BRI’s deep expertise in financial services and extensive reach, BRI Ventures provides not just capital, but also strategic support, market access, and collaborative opportunities to help visionary founders scale their impact across Indonesia and beyond. About Coinvestasi Coinvestasi is Indonesia’s top Web3 and crypto media platforms, reaching 4M+ users monthly. As part of Indonesia Crypto Network (ICN)—the parent company behind major initiatives like Coinfest Asia— Coinvestasi connects global projects with local audiences and drives Web3 adoption across the ecosystem. Contact: Looi Qin En Saison Capital qinen@saisoncapital.com ContactAndrew CheongSaison Internationalandrew.cheong@saison-international.com Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Dr. Altcoin discusses Pi Network's progress before Consensus 2025. Continue Reading: Experts Highlight Pi Network’s Promising Developments Prior to Consensus 2025 The post Experts Highlight Pi Network’s Promising Developments Prior to Consensus 2025 appeared first on COINTURK NEWS .
The U.S. Securities and Exchange Commission (SEC) has delayed its decision to approve the Grayscale Polkadot ETF. In a notice published on April 24, 2025, the agency announced a 45-day extension to its initial review period. The new deadline is now set for June 11, 2025. “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein,” SEC wrote in the filing. The decision gives the SEC more time to consider a proposed rule change by Nasdaq that would permit the exchange to list and trade the Grayscale Polkadot Trust shares. The application was filed on February 24 and entered into the public record on March 13. Assistant Secretary Sherry R. Haywood signed the extension. The SEC, meanwhile, requires more time to analyze the concerns that it has with the proposal. It is standard practice to take the full time provided by law to review applications for which there is an opportunity for public comment and to have numerous conversations with the listing exchange and the applicant’s representatives before making a decision, the commission said. Grayscale pushes forward with new crypto ETF plans Grayscale , one of the world’s largest managers of crypto assets, is trying to expand its line of exchange-traded funds. The new proposal concerns Polkadot (DOT), a major blockchain project that facilitates the transfer of data and tokens between blockchains. If the Polkadot ETF is approved, it would enable everyday investors to invest in DOT via traditional stock exchanges — without the need to purchase the crypto or manage it themselves. Grayscale already operates ETFs that are tied to Bitcoin and Ethereum. The company has also filed applications to introduce similar products for cryptocurrencies such as Solana, Cardano, Litecoin, Dogecoin, and XRP. The approval would represent a step toward mainstream digital asset investment vehicle adoption. The ETF would be listed on the Nasdaq under the rules for commodity-based trust shares, which include funds that follow the price of such underlying assets as gold or oil and, more recently, cryptocurrencies. DOT price holds strong as analysts remain bullish Despite the delay on the part of the SEC, Polkadot has been described as bullish, according to the price analysis of the coin. DOT has increased by over 2% in the past 24 hours and has surged by 15% in the past week. Numerous analysts are optimistic about the outlook for additional gains in the coming months. As for the price analysis, crypto analyst Patel notes that DOT is “responding exactly as one would expect,” suggesting the token could test $10 in the medium term. If momentum continues, he said, it could head to $20. Some long-term forecasts are even more optimistic, predicting that the price could ultimately rise to $42. DOT has a few reasons for that strong performance. A big part of the equation is that almost 50% of all DOT tokens are tied up in staking, thus diminishing supply for trade and amplifying demand. Harbour has also launched a $100M ecosystem fund to invest in projects built on Polkadot, and some big names, such as HashKey Capital, have already invested in early development. That network is expanding itself with creative products like multi-yield DeFi products through GIGADOT and a game platform from Mythical that now boasts more than seven million consumers. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
A groundbreaking development is unfolding in the heart of the Middle East. For the first time ever, an Islamic bank is opening its doors to the world of digital assets, specifically Bitcoin. Ruya Bank, a pioneering digital Islamic community bank based in the United Arab Emirates (UAE), has officially announced it will allow its customers to buy Bitcoin directly through its platform. This move marks a significant milestone, not just for Ruya Bank or the UAE, but for the broader intersection of Islamic finance and the rapidly evolving cryptocurrency landscape. Bridging Worlds: Ruya Bank and Islamic Banking Crypto Integration The integration of cryptocurrency into traditional financial systems is a global trend, but its adoption within Islamic finance has presented unique challenges. Islamic finance operates under Sharia law, which has specific guidelines regarding investments, interest (riba), uncertainty (gharar), and prohibited activities (haram). Historically, there have been varying interpretations on whether cryptocurrencies like Bitcoin comply with these principles. Ruya Bank’s decision to allow customers to buy Bitcoin UAE indicates a careful consideration and likely a positive assessment of Bitcoin’s permissibility within their framework. This isn’t just about offering a new product; it’s about navigating complex theological and financial questions. The bank’s move suggests they have found a way to reconcile the innovative nature of Bitcoin with the ethical and religious requirements of Islamic banking. This development could set a precedent for other Islamic financial institutions globally. It signals a potential shift in how Islamic Banking Crypto interactions are perceived and implemented. Ruya Bank is positioning itself at the forefront of this intersection, potentially paving the way for broader adoption of digital assets within the Islamic world. Why is Ruya Bank Allowing Customers to Buy Bitcoin? Ruya Bank’s strategic move to allow customers to buy Bitcoin is likely driven by several factors, reflecting both market demand and a forward-thinking approach to digital finance: Meeting Customer Demand: There is growing interest in cryptocurrencies among individuals globally, including within the UAE. By offering direct access, Ruya Bank caters to a tech-savvy clientele interested in digital asset investments. Innovation and Differentiation: As a digital bank, Ruya Bank aims to be innovative. Being the first Islamic bank globally to offer Bitcoin purchases provides a significant competitive advantage and highlights its commitment to modern financial solutions. Positioning in the UAE Market: The UAE has ambitions to become a global hub for digital assets and FinTech. Ruya Bank’s initiative aligns with the nation’s broader strategy, potentially attracting customers who value both Islamic finance principles and access to digital currencies within the Crypto UAE ecosystem. Potential Revenue Streams: Facilitating cryptocurrency transactions can open up new revenue avenues for the bank through transaction fees or other related services. Sharia Compliance Confidence: The decision suggests the bank has undertaken rigorous analysis and is confident that the mechanism for buying and holding Bitcoin through their platform is compliant with Sharia principles. This could involve specific structures or partnerships to ensure adherence. This move is not merely a transaction feature; it represents a strategic alignment with the future of finance and a response to evolving customer expectations in the digital age, all while upholding the principles of Islamic finance. What Does This Mean for the UAE Bitcoin Landscape? The introduction of Bitcoin purchasing through an Islamic bank like Ruya Bank has significant implications for the UAE Bitcoin market and the wider digital asset ecosystem in the country: Increased Accessibility: For individuals who bank with Ruya Bank, or potentially other Islamic banks that might follow suit, buying Bitcoin becomes significantly easier and more integrated with their existing financial life. This removes barriers like needing separate accounts on crypto exchanges. Enhanced Legitimacy: An Islamic bank offering Bitcoin lends a layer of legitimacy and trust to the asset class within the UAE, particularly among those who adhere to Islamic finance principles. This institutional backing can encourage wider adoption. Potential for Greater Adoption: By making it easier and more acceptable for a specific segment of the population to access Bitcoin, Ruya Bank’s move could contribute to overall higher levels of cryptocurrency adoption in the UAE. Regulatory Considerations: While the news focuses on the bank’s offering, it also highlights the evolving regulatory environment in the UAE regarding digital assets. The fact that a regulated entity like a bank is offering this service suggests a degree of regulatory clarity or engagement that permits such activities. Competition and Innovation: This could spur other financial institutions, both Islamic and conventional, in the UAE to explore similar offerings to remain competitive in the digital finance space. This development is a clear indicator that the UAE is serious about integrating digital assets into its financial future, making it easier and more trustworthy for residents to participate in the global crypto market. How Does This Relate to Sharia Compliance for Crypto? One of the primary questions surrounding cryptocurrency in Islamic finance is its Sharia compliance. This is where the integration of Islamic Banking Crypto becomes complex and crucial. Key considerations under Sharia law include: Riba (Interest): Bitcoin itself does not generate interest in the traditional sense. Its value fluctuates based on market dynamics. Gharar (Excessive Uncertainty/Speculation): Some scholars view crypto as highly speculative due to volatility, potentially falling under Gharar. Others argue that market-based speculation is common in other permissible assets like commodities or stocks, and that the underlying technology (blockchain) reduces certain types of uncertainty. Maysir (Gambling): The speculative nature can sometimes be associated with gambling, which is prohibited. However, investing with research and analysis is typically distinguished from pure gambling. Haram Activities: The asset should not be primarily used for prohibited activities (like illegal trade). While crypto *can* be used for illicit purposes, its primary function as a store of value or medium of exchange is considered by some scholars as permissible. Tangibility/Underlying Value: Traditional Islamic finance often prefers assets with tangible underlying value. Bitcoin’s value is derived from its decentralized network, limited supply, and utility, which is a newer concept to evaluate. Ruya Bank’s decision suggests they have likely obtained a Sharia opinion (Fatwa) that deems the *mechanism* of buying and holding Bitcoin through their platform permissible. This could involve: Focusing on Bitcoin as a digital asset or commodity rather than a currency (which has specific requirements). Ensuring the transaction process itself is transparent and free from prohibited elements. Perhaps structuring the offering in a way that aligns with acceptable forms of trading or asset ownership in Islamic finance. Their move doesn’t definitively declare Bitcoin itself Sharia-compliant for everyone in all contexts, but it signifies that *under specific conditions and through a regulated Islamic financial institution*, it can be offered to customers. What are the Potential Benefits for Ruya Bank Customers Looking to Buy Bitcoin? For customers of Ruya Bank in the UAE, the ability to Buy Bitcoin UAE directly through their bank account offers several compelling advantages: Benefit Description Convenience Buy Bitcoin directly using funds in their Ruya Bank account without needing to transfer money to external exchanges. Trust and Security Transacting through a regulated bank often provides a higher level of trust and perceived security compared to some independent crypto platforms. Integration Seamless integration of traditional banking services with digital asset investment. Account management is centralized. Potential Sharia Assurance For customers concerned about Sharia compliance, using an Islamic bank’s approved service offers a level of assurance that the transaction mechanism adheres to religious principles. Regulatory Clarity Dealing with a regulated bank means the service operates within the legal framework established by UAE authorities for financial institutions. This integrated approach simplifies the process for potential investors, making digital asset ownership more accessible and less intimidating, especially for those new to the space or specifically seeking Sharia-compliant options within the Crypto UAE market. Looking Ahead: The Future of Crypto in Islamic Finance and the UAE Ruya Bank’s pioneering step is likely just the beginning. As the digital asset space matures and regulatory frameworks become clearer, we can expect more engagement between Islamic finance and cryptocurrencies. The UAE Bitcoin scene is poised for growth, potentially seeing more institutions offering similar services or developing new Sharia-compliant crypto products. This development underscores the UAE’s ambition to be a leader in FinTech and digital innovation. By providing a pathway for Islamic banks to offer digital assets, the country is not only fostering financial inclusion but also respecting the financial preferences of its diverse population. The conversation around Islamic Banking Crypto compliance will continue to evolve, driven by technological advancements and scholarly interpretation. Ruya Bank has taken a brave first step, opening a new chapter for digital assets within a significant segment of the global financial system. Actionable Insight: What Should Interested Individuals Do? If you are a customer of Ruya Bank or interested in potentially using their services to Buy Bitcoin , here are some steps and considerations: Check Ruya Bank’s Official Announcement: Look for detailed information on their website or official communication channels regarding the specific process, terms, and conditions for buying Bitcoin. Understand the Risks: Cryptocurrency markets are highly volatile. Only invest what you can afford to lose. Understand the risks associated with Bitcoin price fluctuations. Review the Sharia Compliance Details: If Sharia compliance is a primary concern, seek to understand the basis of Ruya Bank’s permissibility ruling. While the bank offers it, individual understanding is also important. Start Small: If you are new to crypto, consider starting with a small investment to understand how the process works and how the market behaves. Consider Storage: Understand how Ruya Bank will handle the custody of the Bitcoin you purchase. Will it be held by the bank, or will you have options for self-custody? This is an exciting opportunity for many, but approaching it with information and caution is key to navigating the digital asset space effectively. Conclusion: A Historic Step for Islamic Finance and Crypto Ruya Bank’s announcement is undeniably a landmark moment. As the first Islamic bank globally to enable customers to buy Bitcoin, it has shattered a barrier that many thought would take years to overcome. This move not only enhances the accessibility of UAE Bitcoin but also provides a significant boost to the legitimacy and potential adoption of digital assets within the Islamic finance sector. It reflects a forward-thinking approach from both the bank and potentially the regulatory environment in the Crypto UAE space. While questions surrounding Sharia compliance will continue to be debated globally, Ruya Bank has taken a definitive stance for its customers, marking a new era of integration between traditional ethical finance and the innovative world of cryptocurrency. This is a powerful step towards a more inclusive and digitally integrated financial future. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.
Data shows potential for a volatile surge.
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