Ripple’s President Monica Long outlines the company’s vision for using blockchain technology to revolutionize financial services, highlighting key advancements and future plans.
Points
- Ripple envisions blockchain as the future of global financial infrastructure.
- Significant progress includes approval of BTC and ETH Spot ETFs and major crypto regulations.
- Ripple plans to launch a stablecoin, Ripple USD （RLUSD）, on XRPL and Ethereum.
On July 19, 2024, Monica Long, President of Ripple, detailed the company’s vision for leveraging blockchain technology to transform financial services. Ripple was founded on the belief that blockchain would become the backbone of global financial infrastructure, enabling more affordable and efficient services for individuals and businesses worldwide.
Long reflected on the industry’s early challenges, including the lack of necessary infrastructure, liquidity, trust, and regulatory clarity. Over the past decade, significant strides have been made, such as the approval of the first BTC and ETH Spot ETFs in the U.S., BlackRock’s launch of a tokenized fund, and the EU’s comprehensive crypto regulations under MiCA.
Financial institutions like Fidelity, Itaú Unibanco, Stripe, and PayPal now facilitate crypto trades, holdings, and usage, marking substantial progress in market acceptance and maturity. Ripple has evolved to seize these opportunities, showcasing blockchain’s potential for faster, lower-cost, and more reliable financial services.
Ripple’s first major initiative, using the XRP Ledger （XRPL） for cross-border payments, demonstrated blockchain’s capabilities. Ripple Payments now covers nearly the entire globe, processing over $50 billion in volume across 80 payout markets. Additionally, Ripple has expanded its services to provide secure and compliant digital asset infrastructure for financial institutions.
Long also discussed Ripple’s acquisition of Metaco, a digital asset custody technology provider, now rebranded as Ripple Custody. This acquisition positions Ripple to deliver on its global product roadmap and expand its custody services.
Further, Ripple plans to launch a stablecoin, Ripple USD （RLUSD）, on both the XRPL and Ethereum blockchains. This initiative aims to bridge traditional finance with crypto, enhancing Ripple Payments.
解説
- Ripple’s advancements underline the growing integration of blockchain in mainstream finance.
- The launch of Ripple USD （RLUSD） reflects the company’s commitment to innovation and bridging traditional and digital finance.
- Investors and users should watch for further developments as Ripple continues to expand its product offerings and market reach.