Franklin, a hybrid cash and crypto payroll provider, is launching a new initiative that aims to turn idle-sitting payroll into an opportunity for yield.

The new solution, dubbed Payroll Treasury Yield, uses blockchain lending protocols to help firms earn returns on payroll funds that would otherwise sit idle, the company told Cointelegraph in an exclusive statement.

Franklin said its new offering integrates Summer.fi, a decentralized finance (DeFi) lending platform, to allow companies to deposit stablecoin-denominated payroll reserves into smart contract-based lending pools.

These funds are lent to vetted borrowers, and companies earn yields while retaining access to their capital. Companies maintain full custody throughout the process, and smart contracts used are audited to reduce risk.

“The problem that Franklin solves for is two-fold,” Megan Knab, founder and CEO of Franklin, told Cointelegraph. For companies that have already integrated crypto onto their balance sheets, Franklin helps them use those assets to manage their operations, she said.

“But for the broader market, we are enabling business models of the future, where money moves instantly, more intelligently, and to more globally,” Knab added.

Source: Franklin

Related: PayPal to offer 3.7% yield on stablecoin balances: Report

Alternative to T-Bills

Franklin said its new offering is an alternative to traditional treasury tools like sweep accounts or T-bills, which often involve operational complexity and limited returns.

Furthermore, it differentiates from earned wage access (EWA) platforms, which enable employees to access their earned wages before their scheduled payday by avoiding additional debt and associated costs.

“Traditional payments in the next decade will run entirely on public blockchain rails as a wholesale replacement to ACH and SWIFT,” Knab said.

She added that if onchain payroll products go mainstream, banks could fade into the background. While technology may replace many banking functions with self-custody tools and smart contracts, regulatory frameworks will still require accountable legal entities.

The result may be “zombie-like institutions” — banks in name only, existing to meet compliance rules but playing a minimal role in actual payment processing, Knab said.

However, decentralized lending comes with risks like smart contract vulnerabilities and market fluctuations. Franklin said it aims to mitigate these by using Summer.fi’s audited contracts and overcollateralized lending.

Related: How to Use tsUSDe on TON for Passive Dollar Yield in 2025

Rising interest in yield-generating strategies

Interest in yield-generating strategies within the cryptocurrency sector has surged in recent years, driven by both retail and institutional investors seeking to maximize returns on their digital assets.

On May 16, Solv Protocol launched a yield-bearing Bitcoin token on the Avalanche blockchain, giving institutional investors more exposure to yield opportunities backed by real-world assets, or RWAs.

On May 1, Ryan Chow, co-founder and CEO of Solv Protocol, said the demand for yield-generating strategies around Bitcoin is surging, especially from firms seeking liquidity without liquidating their BTC.

Magazine: Arthur Hayes $1M Bitcoin tip, altcoins’ powerful rally’ looms: Hodler’s Digest, May 11 – 17

Chinese printer manufacturer Procolored distributed Bitcoin-stealing malware alongside its official drivers, according to local media reports.

Chinese news outlet Landian News reported on May 19 that Shenzhen-based printer company Procolored has been distributing Bitcoin-stealing (BTC) malware alongside official drivers. The firm reportedly used USB drivers to distribute malware-ridden drivers and uploaded the compromised software to cloud storage for global download.

So far, 9.3 BTC worth over $953,000 have been stolen, according to the report. Crypto tracking and compliance firm Slow Mist explained how the malware operates in a May 19 X post:

“The official driver provided by this printer carries a backdoor program. It will hijack the wallet address in the user’s clipboard and replace it with the attacker’s address.“Source: MistTrack

Related: Massive supply chain attack targeting small number of crypto companies: Kaspersky

YouTuber flags malware in Procolored drivers

Landian News recommended users who downloaded Procolored printer drivers in the past six months to “immediately perform a full system scan using antivirus software.” Still, given the hit or miss nature of antivirus software, a full system reset is always the better option when in doubt:

“Ideally, you should reinstall your operating system and thoroughly check old files.“

The issue was allegedly first reported by YouTuber Cameron Coward, whose antivirus detected malware in the drivers while testing a Procolored UV printer. The antivirus flagged the drive as containing a worm and a trojan virus named Foxif.

Related: Coinbase faces $400M bill after insider phishing attack

Cybersecurity firm confirms crypto-stealing malware

When contacted, Procolored denied the claims and dismissed the antivirus flagging the drivers as a false positive. Coward turned to Reddit, where he shared the issue with cybersecurity professionals, attracting the attention of cybersecurity firm G-Data.

G-Data’s investigation found that most of Procolored’s drivers were hosted on the file hosting service MEGA, with uploads as old as October 2023. Analysis of those files confirmed that they were compromised by two distinct pieces of malware: backdoor Win32.Backdoor.XRedRAT.A and a crypto-stealer designed to substitute addresses in the clipboard with those controlled by the attacker.

G-Data contacted Procolored, with the hardware producer saying it deleted the infected drivers from its storage on May 8 and re-scanned all files. Procolored attributed the malware to a supply chain compromise, stating that the malicious files were introduced through infected USB devices before being uploaded online.

Related: Crypto drainers as a service: What you need to know

Key takeaways:

XRP could be headed down to $2 following a breakdown of a classic head-and-shoulders pattern.

Declining open interest in XRP futures signals weakening trader confidence.

The XRP (XRP) price is flashing warning signs as a bearish technical pattern resolves on lower timeframes, coinciding with massive long liquidations and decreasing open interest.

XRP H&S pattern hints at a 14% price drop

XRP price action has formed a head-and-shoulders (H&S) pattern on its four-hour chart since May 9, projecting a likely down-move.

The head-and-shoulders pattern is a bearish reversal pattern that can signal a change in trend. It consists of three peaks: a higher peak (head) and two lower peaks (shoulders). 

It is resolved when the price breaks below the neckline (the line connecting the lows of the left and right shoulder), confirming the pattern and suggesting a potential sell signal.

In XRP’s case, the pattern was validated following a break and close below the neckline at $2.33 during the early Asian trading hours on May 19.

If the price stays below the neckline, the XRP/USD pair could slide further to $2.25 (where the 200-day simple moving average currently sits) and then to the pattern target of $2.00. This would bring the total losses to 14% from the current levels.

XRP/USD four-hour chart. Source: Cointelegraph/TradingView

As Cointelegraph reported, a possible decline to as low as $2.00 is currently in play as bullish momentum has decreased.

For analyst Egrag Crypto, XRP price “must hold” the support at $2.30, which aligns with the H&S neckline, to avoid a breakdown toward these targets. 

Related: XRP price path to $3.40 remains intact — Here is why

The analyst shared a chart showing that a drop below $2.30 could trigger a massive sell-off, with the initial target set around $2.15 and then going as low as $1.60.

Source: Egrag Crypto

XRP open interest down $1 billion in 5 days

XRP open interest (OI) has decreased by 18% to $4.49 billion over the last five days. This decline in OI signals reduced trader confidence and liquidity, which drives prices down.

XRP futures open interest. Source: CoinGlass

The latest drawdown in XRP price has also triggered liquidations over the last day, where long positions valued at $12 million were forcibly closed, compared to just $1.4 million in shorts. 

Total XRP liquidations across all exchanges. Source: CoinGlass

This reflects heightened selling pressure as bullish traders are forced to sell at a loss, pushing prices lower.

Importantly, XRP’s 3% drop over the last 24 hours is accompanied by a 70% increase in daily trading volume to $4.1 billion. Trading volume increases amid a price decline can be interpreted as increasing bearish momentum or repositioning by crypto traders as they wait for XRP’s next move. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.