Cryptocurrency expert BankXRP emphasized that Ripple’s latest investment is strategic and provides growth XRP tool as a cross-border payment asset. This comes as Ripple continues to expand its operations and takes steps to further integrate XRP into its operations.
How Ripple’s move is strategic for XRP
In Post XBankXRP noted that Ripple’s support for Squid’s cross-chain router is strategic, not random as Squid claims XRP ledgers as an integrated chain alongside Ethereum, Solana, Bitcoin, Stellar and Cosmos. He added that the platform supports native swapping across over 1,000 DeFi applications and services.
In this regard, the expert stated that Ripple has just made the XRP ledger available to everyone crypto ecosystemthanks to your investment. Cryptocurrency commentator Xaif was the first to attract attention to invest, revealing that the crypto company backed Squid’s $6 million funding round. The cross-chain router is said to be dynamic in over 100 networks, with a routed volume of $6 billion.
In line with this, Xaif stated that Ripple not only relies on the XRP Ledger, but also funds the infrastructure connecting all chains. It is worth noting that at the Consensus Conference Ripple CEO Brad Garlinghouse stressed that the crypto space will continue to span several networks, pointing out that the goal was to make their operations available on these networks in addition to XRPL.
Ripple’s RLUSD stablecoin is natively issued on the Ethereum network alongside XRPL. Ripple has also partnered with Wormhole to extend the stablecoin to Ethereum Layer 2 networks such as Base, Optimism, and Unichain. Meanwhile, Ripple’s custody services go beyond XRP Ledger as it provides custody services for Ethereum and Solana, as well as staking services.
How XRPL was built for the privacy era
In another Post XXaif highlighted how Ripple and other XRPL developers built a network for XRP to dominate the privacy era and onboard institutions. He noticed that the network has been natively integrated zero knowledge technology (ZK). This keeps transaction volumes, counterparties and balances hidden from the public ledger, which is beneficial for institutional adoption.
The expert added that regulators and auditors can still verify everything through selective disclosure, which makes the integration compliance-friendly. He noted that more than 300 banks and financial institutions have started cooperation with Ripple they waited for privacy before they went all in, and now they have it.
Moreover, Xaif noted that the XRP ledger is already payment-ready, boasting a 3- to 5-second execution time and very low fees, making payments using XRP profitable. He added that XRP allows fiat-fiat transactions to be instantly linked via On-Demand Liquidity (ODL) without the need for prepaid accounts, making it hard for SWIFT to compete with XRP.
At the time of writing, XRP is trading around $1.34, down over the past 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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