Ripple CTO David Schwartz discusses Ripple’s strategic plans to integrate XRP Ledger （XRPL） features into DeFi, emphasizing secure and compliant global financial services.
Points
- Ripple focuses on integrating XRP Ledger （XRPL） with DeFi features.
- Aims to enhance secure and compliant financial services globally.
- Plans include a new office in Geneva and the launch of a USD-backed stablecoin.
- Emphasis on providing better on-ramp and off-ramp options for institutions.
- Future developments target expanding Ripple’s financial services infrastructure.
Ripple Chief Technology Officer （CTO） David Schwartz has published a post on the X platform to comment on the announcement recently made by Ripple President Monica Long in the company’s blog, which was then shared by Ripple on X.
Schwartz explained that Ripple is now putting focus on integrating the technical and financial features of XRP Ledger in its own business. This is being done, per the Ripple CTO, to allow its clients to enjoy the benefits of DeFi in a secure and compliant manner around the world. The Ripple post speaks about the company aiming to become “the #1 digital asset infrastructure provider for financial services by building the core components,” and it also explains how Ripple’s product strategy has evolved for this.
Ripple Opening New Office in Geneva
Stating that the first major bet in the blockchain sphere for Ripple was cross-border payments, President Monica Long made a small recap of the company’s recent significant milestones achieved in this industry.
In particular, she named the 2023 acquisition of digital asset custody technology provider Metaco that works with top banks around the world, including BBVA Switzerland and HSBC, a major step to make the future of blockchain payments a reality. Metaco is going to function as Ripple Custody in the near future with a plan for a new office to be opened in Geneva soon. As the next step here, Ripple intends to add its Liquidity Hub into their global payments solution.
Ripple’s Stablecoin to Help Institutional DeFi
Monica Long also touched on the recently announced Ripple’s plans to roll out its own USD-backed stablecoin RLUSD on both XRPL and Ethereum blockchains. As soon as the launch takes place, RLUSD will be immediately made part of the Ripple Payments solution along with XRP to expand use cases in transnational payments for institutional clients and serve their growing needs in this area.
Overall, Ripple’s plans include providing financial institutions with better ways to on-ramp and off-ramp funds in crypto and fiat currencies they choose. Besides, according to the blog post, the stablecoin will provide developers with new opportunities of building apps with new capabilities to create new use cases and land them more new users.
解説
- Ripple’s strategic focus on integrating XRP Ledger （XRPL） with DeFi features marks a significant step towards enhancing its global financial services. By leveraging the technical and financial capabilities of XRPL, Ripple aims to provide secure and compliant DeFi solutions, catering to the evolving needs of institutional clients.
- The announcement of a new office in Geneva and the acquisition of Metaco underscore Ripple’s commitment to expanding its infrastructure and enhancing its capabilities in the blockchain payments industry. These developments are crucial for establishing Ripple as a leading digital asset infrastructure provider.
- The launch of Ripple’s USD-backed stablecoin, RLUSD, is expected to play a pivotal role in supporting institutional DeFi. By enabling transnational payments and offering developers new opportunities to build innovative applications, RLUSD aims to drive adoption and create new use cases within the Ripple ecosystem.
- Ripple’s emphasis on improving on-ramp and off-ramp solutions for financial institutions highlights its focus on bridging the gap between traditional finance and the cryptocurrency world. By offering seamless integration of crypto and fiat currencies, Ripple seeks to enhance the accessibility and usability of its financial services.
- Overall, Ripple’s comprehensive strategy to integrate XRPL with DeFi and expand its infrastructure reflects its ambition to become the leading digital asset infrastructure provider. Investors and stakeholders should monitor these developments closely as Ripple continues to innovate and grow within the financial services sector.