[ad_1]
Ripple CEO Brad Garlinghouse believes XRP could prove to be the perfect fit for central banks looking to bring their currencies into the digital age.
In a new interview on The Scoop podcast, Garlinghouse says that as central banks begin to launch their own currencies, providing liquidity and cross-currency compatibility could be difficult.
This is why, he says, Ripple is making XRP a bridge asset to fuel cross-border transactions and swap one currency for another.
“The interest of XRP in our context is to be a bridge asset. So if you are using a US dollar stablecoin, you still need to go to a Brazilian real or Australian stablecoin.
Point [of Ripple’s efforts] is to allow a lot of efficiency and liquidity between XRP and the US dollar, and XRP and the Australian dollar. You just have to worry about a bridge as opposed to liquidity between each pair. So just using stable coins doesn’t really solve the problem that XRP solves. XRP, as an extremely efficient and extremely scalable blockchain, is ideal for this. “
In addition, he says, Ripple is exploring other ways out of the cross-border payments realm in the future.
“We will definitely enter other verticals and we will not just be a cross border payment solution… We want to help customers grow and grow their business. On-Demand Liquidity does this. The line of credit does that. We’ll definitely be looking at the verticals and maybe that’s the insurance. Maybe it’s trade finance.
There are many other examples where blockchain technologies can be used to reduce friction and improve the efficiency of these transactions. “
follow us on Twitter Facebook Telegram
Disclaimer: Opinions expressed in Daily Hodl are not investment advice. Investors should do due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any losses you may suffer are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.
Featured Image: Shutterstock / Tatiana Shepeleva
[ad_2]
Source link