Here’s a quick recap of the crypto landscape for Friday (January 9) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$90,165.72, down by 0.7 percent over 24 hours.
Bitcoin price performance, January 9, 2025.
Chart via TradingView.
Ether (ETH) was priced at US$3,069.12, down by 1.2 percent over the last 24 hours.
Altcoin price update
- XRP (XRP) was priced at US$2.08, down by 2.0 percent over 24 hours.
- Solana (SOL) was trading at US$135.48, down by 1.5 percent over 24 hours.
Today’s crypto news to know
BNY Mellon steps toward tokenized deposits
BNY Mellon (NYSE:BK), a major global financial services firm, has begun converting customer cash holdings into digital tokens on its specialized platform, according to a Friday announcement. This step supports the bank’s goal of offering flexible digital cash for large-scale financial operations. Early users include top banks and tech-forward companies.
The system starts by handling security deposits and loan margins, using digital records on a secure, private digital ledger to mirror clients’ existing cash claims at the bank. It follows BNY’s standard rules for safety, legal checks and oversight. Actual cash amounts are tracked in the bank’s regular systems to meet government reporting needs.
Rain announces Series C funding round
Rain, a payments company using stable digital dollars, announced it raised US$250 million in its latest funding round led by ICONIQ, with other investors joining in. This values the company at US$1.95 billion and brings its total funding to over US$338 million since its earlier rounds.
Rain provides businesses with one-stop tools to create digital dollar cards accepted anywhere Visa (NYSE:V) works, add rewards, switch regular money to stable digital dollars, manage secure digital wallets and send payments. According to the company, its technology now handles over US$3 billion in yearly transactions for more than 200 partners like Western Union, Nuvei, and KAST. These services reach 2.5 billion people for daily buys like coffee or flights, plus business costs such as cloud computing and online ads.
Ripple secures FCA approval to expand UK crypto payments
Ripple has received regulatory approval from the UK’s Financial Conduct Authority (FCA) to scale its crypto-enabled payments services in the country.
The approval covers both cryptoasset registration and an Electronic Money Institution license, allowing UK businesses to use Ripple’s platform for cross-border payments involving digital assets.
The authorization comes through Ripple Markets UK Ltd and positions the firm to operate under tighter regulatory scrutiny ahead of the UK’s broader crypto rulebook.
The approval arrived just as the FCA outlines a transition to full licensing for crypto firms by 2027.
Ripple has long treated the UK as a strategic hub, with its London office now its largest outside the US. The XRP token rose by 1 percent following the announcement, extending gains of almost 11 percent from the past week.
South Korea signals green light for spot Bitcoin ETFs in 2026
South Korea plans to allow spot Bitcoin ETFs in 2026 as part of a wider economic growth and market reform strategy aimed at attracting foreign capital.
Officials pointed to the active trading of spot Bitcoin ETFs in the US and Hong Kong as a key reference in lifting long-standing restrictions that barred crypto assets from serving as ETF underlyings.
The move is expected to align with broader financial reforms designed to support South Korea’s bid for inclusion in MSCI’s developed-market index. Regulators are also fast-tracking a second phase of digital asset legislation that will establish a comprehensive framework for stablecoins.
At the same time, authorities are pushing to internationalize the won, including expanding offshore access and introducing 24-hour onshore FX trading by mid-2026.
UK sets September 2026 deadline for full crypto licensing regime
The UK’s Financial Conduct Authority (FCA) has confirmed that crypto firms must obtain full authorization by September 2026 to continue operating under a new regulatory regime launching in 2027.
The change will replace the current registration-only system with a licensing framework that mirrors standards applied to traditional financial products.
Firms will need to apply during a fixed window opening in September 2026, with no automatic conversion for those already registered under existing anti–money laundering rules.
Companies that miss the window face sharp operational limits, including bans on entering new cryptoasset business while awaiting approval.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
