Markets were broadly softer as crypto firms pushed product expansion while equity investors continued to reassess risk. Coinbase and Ripple advanced a fresh stablecoin listing, Securitize broadened tokenisation support to Stellar, and a preferred-share issuer altered dividend timing, all against a backdrop of weak crypto stocks and significant losses in Chinese equities.
Coinbase lists Ripple’s RLUSD across platforms
On October 28, 2026, Coinbase added Ripple’s stablecoin RLUSD to Coinbase Prime, Coinbase Exchange and its retail app. The listing supports 1:1 conversions from U.S. dollars and other stablecoins, and allows deposits via the XRP Ledger, Ethereum and Base. At the same time Ripple said it expects to finish 2026 with an annual product revenue run rate of $900 million and that its payment network will approach $150 billion in total volume by year-end. Moody’s has given RLUSD A2 and P-1 ratings and the stablecoin has a reported market capitalisation above $2.6 billion.
Despite those corporate milestones, XRP itself has not matched them: the token remained down nearly 30% year-to-date and had a market capitalisation of about $83 billion in the same reporting. The RLUSD listing is positioned across Coinbase’s institutional and retail channels, a step that expands on-ramp and off-ramp options for users and supports interoperability across multiple chains.
Pressure on crypto-related stocks and Coinbase’s upcoming results
Crypto and fintech stocks have continued to trade well below their peaks. A report dated October 28 noted Coinbase, Circle and Robinhood were respectively 56%, 44% and 40% below their highs even as the broader S&P 500 hovered near record levels. The Kobeissi Letter described the situation as a “silent” bear market for these names. Bitcoin was described as struggling to remain above $80,000 in the same coverage window.
Coinbase was set to announce third-quarter results on October 29, with revenue estimates of roughly $1.2 billion, an amount that would represent a 36% year-over-year decline if realised. The divergence between risk-on indices and weak crypto equities highlights investor caution toward companies tied to trading volumes and custody flows.
Chinese equity losses weigh on global risk assets
Mainland Chinese stocks have given back significant value since May, with an estimated $2.4 trillion erased according to a report published October 27, 2026. The CSI 300 entered a bear market on October 22, and the STAR 50 index lost roughly 40% in under four months, a drop that equates to about $480 billion in market value. Goldman Sachs estimated AI-focused companies make up 42% of the total value and 57% of trading volume in the Chinese market, amplifying sentiment risks as investors question profitability prospects for those firms.
Broader macro drivers added pressure: Brent crude trading above $111 per barrel and U.S. 10-year Treasury yields approaching 5% were cited as headwinds for risk assets globally in the same reporting period.
Strategy approves daily dividends for preferred shares
On October 28, Strategy shareholders approved an amendment, with 99.3% preliminary support, that permits its four series of preferred shares to pay dividends on every calendar day. STRC will be the first to implement daily payments, with an initial record date of November 1 and a payment date of November 2; the remaining series (STRF, STRK and STRD) will follow beginning January 1. As of October 28, STRC traded at $99.86, just below its $100 par value.
Securitize adds Stellar support for tokenised assets
Securitize announced at the Meridian 2026 conference in Lisbon that it has added the Stellar network to the blockchains it supports for tokenised assets, joining Ethereum, Solana and Avalanche. Securitize, which manages BlackRock’s tokenised fund BUIDL, noted that assets on Stellar are configured to handle KYC requirements and sanctions compliance. Securitize’s shares, which began trading on the NYSE in July, closed at $8.16 on October 27 after an initial trading-day peak of $13.70.
What this day means for the market
The day combined product development in crypto, stablecoin listings and expanded tokenisation rails, with reminders of macro and equity pressures: weak performance in crypto-related stocks, large losses in Chinese AI-heavy indices, higher oil prices and rising Treasury yields. Firms continued to roll out infrastructure and payment features even as investor appetite for risk-linked equities remained constrained.