This week in crypto, traditional finance continues to bridge into Web3. For instance, Mastercard teams up with Chainlink and Swapper Finance to enable direct crypto purchases for billions of users. Meanwhile, Ripple’s high-profile SEC lawsuit is nearing its conclusion. South Korea’s top banks unveil a national stablecoin plan, and KuCoin Futures rolls out a $10 million affiliate initiative. Lastly, Ripple is pushing multichain adoption further through a major integration with Wormhole.

Mastercard and Chainlink have partnered with Swapper Finance to allow over 3 billion Mastercard users to buy crypto directly using debit or credit cards. The integration will now connect traditional payment systems with decentralized finance (DeFi) to enable onchain crypto purchases through platforms like Uniswap and XSwap. Swapper Finance uses Chainlink’s infrastructure to securely bridge fiat payments with blockchain transactions. Payments are processed via Shift4, converted to crypto by Zerohash, and settled onchain using decentralized liquidity from Uniswap.

This collaboration marks a step toward merging traditional finance with Web3. Chainlink ensures secure data syncing, while Zerohash provides regulatory compliance. Mastercard has been actively expanding into crypto, recently partnering with Kraken and MoonPay. Following the news, Chainlink’s native token LINK rose 11.84% to $13.35, reflecting strong market response.

The long-running legal battle between Ripple and the U.S. SEC has entered its final phase after Judge Analisa Torres rejected a joint proposal to settle the case with a $50 million penalty and no permanent injunction. The judge criticized the attempt as an improper effort to overturn a prior ruling through a private deal.

Ripple’s Chief Legal Officer, Stuart Alderoty, stated the company is now weighing whether to proceed with or drop its appeal regarding institutional sales. He emphasized that XRP’s status remains unchanged, not a security. Attorney John Deaton said the SEC cited incorrect legal standards in its filing and expects stronger arguments ahead. Meanwhile, legal expert Fred Rispoli suggested both parties may still settle informally, with the SEC potentially backing off enforcement if Ripple stays compliant.

Eight major South Korean banks including KB Kookmin, Shinhan, Woori, and Citibank Korea have announced a joint initiative to launch a stablecoin pegged to the Korean won. The effort, supported by the Open Blockchain and DID Association and overseen by the Financial Supervisory Service, marks the first stablecoin consortium by domestic banks.

The venture aims to reduce reliance on foreign stablecoins and enhance local digital finance. Two issuance models are being considered: a trust-based model and a deposit token model. The launch is targeted for late 2025 or early 2026, pending regulatory updates. Though separate from the Bank of Korea’s CBDC program, the stablecoin could support local payments, remittances, and Web3 services. Regulatory clarity and consumer trust remain key to its success.

KuCoin Futures, the crypto derivatives arm of KuCoin Exchange, has launched a $10 million investment plan to support affiliates and ecosystem partners. The initiative, contributing $1 million monthly, aims to move beyond standard rebate models by fostering long-term partnerships, mentorship, and sustainable growth.

CEO BC Wong emphasized that the initiative builds on KuCoin’s milestone of 41 million users and aligns with the broader $2 billion KuCoin Trust Project to restore confidence in crypto. The program will offer affiliates up to 60% commission on trading fees, exclusive airdrops, and access to educational tools and market insights. Affiliates will also benefit from a real-time dashboard tracking performance, plus support in creating impactful Web3 content.

Ripple has integrated Wormhole to boost multichain interoperability on the XRP Ledger (XRPL) and its upcoming EVM sidechain. The move enables XRPL tokens to move seamlessly across 35+ blockchains while maintaining native control, supporting cross-chain messaging, payments, and asset transfers. Wormhole will help XRPL connect with broader DeFi and institutional finance ecosystems. The integration is expected to drive use cases involving real-world assets (RWA), stablecoins, and decentralized applications.

This step follows recent XRPL upgrades, including Circle launching $USDC on the ledger and Ondo Finance expanding support for on-chain U.S. debt instruments. Ripple’s continued focus on multichain capabilities reflects its ambition to make XRPL a core layer for institutional blockchain finance.

This week’s developments highlight the growing convergence between traditional finance and the crypto world. From Mastercard enabling direct crypto purchases to Ripple advancing multichain connectivity, the industry continues to evolve at pace. With major banks exploring stablecoins and exchanges investing in ecosystem growth, the momentum behind blockchain adoption is clearly building. Stay tuned as these initiatives reshape the future of global finance.

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