In a significant event that could shape the financial sector, Rippleleading US payments company, has revealed its financial ambitions, signaling its growing banking power. With this move, the company expands its global footprint in the crypto and financial landscape, strengthening its up-to-date banking infrastructure.
Ripple’s bid to transform global banking
Ripple is in the spotlight following an update on the company’s latest move that highlights its financial ambitions. The company is gradually expanding its presence around the world and laying the foundations for what is starting to look like a up-to-date digital banking empire.
By forming strategic alliances, obtaining regulatory approval and building infrastructure in critical financial areas, the company is positioning itself as a leader in the institutional adoption of blockchain technology and cross-border payments. Pumpius, cryptocurrency expert and investor, he stated that Ripple connects the entire institutional stack in much the same way banks do, one regulated element at a time.
The expert also highlighted the company’s acquisitions in recent years, which tells a story. This is evidenced by, among others, acquisition of Metaco and Hidden Road. While Metaco underwrote the company’s institutional care needs, Hidden Road added execution, financing and access to real-world plumbing. As a result, the Ripple bus plugs into high-volume payment distribution.
While several prices are publicly available, some are not. However, the trajectory is clear, as evidenced by fiduciary payments, prime brokerage and treasury infrastructure under one roof. With the inclusion of the OCC Trust banking aspect, Ripple is already making inroads into banking in the United States, generating conditional approvals seen among companies in the industry.
This is considered a cheat code. Engaging in a regulated circuit creates a barrier to obtaining a permit, and the company becomes a system that institutions can exploit.
As the payment builds the banking stack, February 26 is a key date in its journey. On the day U.S. Securities and Exchange Commission (SEC) is set to announce its decision in a Federal Register proceeding related to the proposed T Rowe Price cryptocurrency fund (ETF). “This is a calendar in which traditional allocators will gain clearer lanes,” Pumpius added.
Long positions in XRP are heating up again
With the excitement around several Ripple updates, investors seem to be doubling down on their efforts XRP Again. Interest in the altcoin has increased over the past few days as long positions in the leading altcoin are re-emerging at a rapid pace.
Using data from Binancecryptocurrency exchange leader, CW revealed rapid growth of XRP positions from top traders. When investors start going long again, it could suggest they are positioning themselves for a potential rebound.
CW noted that these investors were previously heavily positioned on the miniature side, but the chart shows that they are now becoming neutral. As a result of the renewed conviction, the expert believes that XRP will regain its advantage soon.
Featured image from Peakpx, chart from Tradingview.com
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