Ripple CEO Attacks: XRP Will Be The Key Asset Of The Revolution!
Ripple CEO Brad Garlinghouse believes XRP could be an ideal solution for central banks looking to move their currencies into the digital age.
Ripple CEO: XRP could be an ideal solution for central banks
In a new interview on The Scoop podcast, Ripple CEO Brad Garlinghouse says it can be difficult to fund the compatibility between liquidity and currencies as central banks begin issuing their own currencies. Ripple says this is the reason for using XRP as a bridge asset to power cross-border transactions and exchange one currency for another. Ripple’s CEO adds.
THE WHOLE PURPOSE OF XRP IN OUR CONTEXT IS TO BE A BRIDGE ASSET. SO, IF YOU USE THE US DOLLAR STABLECOIN, YOU STILL NEED A BRAZILIAN REAL STABLECOIN OR AN AUSTRALIAN STABLECOIN. THE PURPOSE OF RIPPLE’S EFFORTS IS TO ACHIEVE A LOT OF EFFICIENCY AND LIQUIDITY BETWEEN XRP AND THE US DOLLAR, AND BETWEEN XRP AND THE AUSTRALIAN DOLLAR. YOU ONLY HAVE TO WORRY ABOUT ONE BRIDGE AS OPPOSED TO THE LIQUIDITY BETWEEN EACH PAIR. SO JUST USING STABLECOINS DOESN’T REALLY SOLVE THE PROBLEM XRP IS SOLVING. AS A HIGHLY EFFICIENT, HIGHLY SCALABLE BLOCKCHAIN, XRP IS IDEALLY SUITED FOR THIS.
Ripple CEO: We’re exploring more ways to enter different markets
In addition, Ripple’s CEO says his company is exploring more ways to streamline transactions and enter different markets in the cross-border payments space in the future. Ripple’s CEO adds:
WE WILL DEFINITELY ENTER OTHER VERTICAL MARKETS AND NOT JUST BE A CROSS-BORDER PAYMENT SOLUTION… WE WANT TO HELP CUSTOMERS GROW AND SCALE THEIR BUSINESS. ON-DEMAND LIQUIDITY DOES THAT. LINE OF CREDIT DOES THIS. WE’LL DEFINITELY LOOK AT THE VERTICALS AND MAYBE THE FUSE. MAYBE IT’S TRADE FINANCE. THERE ARE MANY OTHER EXAMPLES WHERE BLOCKCHAIN TECHNOLOGIES CAN BE USED TO REDUCE FRICTION AND INCREASE THE EFFICIENCY OF THESE TRANSACTIONS.