Ripple Labs CEO Brad Garlinghouse told CNBC’s ‘Crypto World’ on Tuesday in New York that the XRP-linked company plans to take on traditional finance. He explained that his fintech firm aims to bridge the gap between traditional finance by introducing Web3 developments. Garlinghouse stressed that traditional finance built on blockchain technology can disrupt the market and usher in a new financial era.
“I want to see Ripple invest in the future and get ahead of where that market’s going,” he said. “The assets we have been buying have been on the traditional finance side, so we can bring crypto-enabled solutions to that traditional financial world.” The XRP-linked company is building a financial services powerhouse that traditional finance is unable to ignore.
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XRP-Linked Ripple Changing the Traditional Financial Landscape
Several leading asset-management firms and global banks are collaborating with Ripple for its fintech services. The XRP CEO explained that a shift is occurring in real-time that benefits both cryptocurrency and the traditional industry. ″The United States used to lean out on crypto, and now we’re leaning in, and I think people underestimate how big a shift that is,” he said.
The development puts XRP at an advantage, as it’s a central part of the ecosystem for everything that the company does. ″ The more we can build utility and really scale solutions that take advantage of XRP at the core, the more that will be uniquely good for the XRP ecosystem,” Garlinghouse said.
Also Read: See How 1,000 XRP Value Soars Once SEC Approves XRP ETFs
The Ripple’s native token is now on the brink of gaining the SEC approval for XRP ETFs. If approved, the token would receive an influx of funds from institutional clients, boosting its prospects in the charts. Asset-management firms with trillions of dollars at their disposal can change the way the token operates forever. The token is trading at the $2.4 level on Wednesday.
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