Ripple Promotes Its Vision of Leveraging the XRP Blockchain for Global DeFi Expansion

Ripple is now further focused on integrating the advanced features of XRP Ledger into its business to provide secure and compliant decentralized financial solutions to customers around the world.

Ripple CTO David Schwartz confirmed this in a recent article on X following the company’s latest release. In the report, Ripple outlined its overall ambition to emerge as the leading provider of digital asset infrastructure solutions for the financial services industry.

Ripples report highlighted the demand for digital asset infrastructure in the financial sector. Built on the belief that blockchain would be the global monetary infrastructure, Ripple has evolved to meet the growing demand over the past decade.

Initially, the crypto industry lacked liquidity, trust, regulation, and guidance to enable businesses to integrate blockchain solutions.

To give some context, when Ripple launched in 2012 for institutions, Bitcoin was worth less than $20. Ethereum had not yet been launched and the cryptocurrency market was relatively small, with only a few exchanges operating and handling annual trading volume of a few million dollars.

However, a decade later, the industry has made significant progress. It now generates trillions of dollars in monthly volume. Crypto ETFstokenized funds and increasing adoption by financial institutions are now here.

Yet institutions still need a reliable digital asset infrastructure to integrate blockchain into their businesses. Ripple is working to solve this problem by assembling the building blocks that enterprises need to integrate blockchain into their businesses. These components include a custody solution, access/exit rampsliquidity and compliance.

Ripple’s XRP Ledger Under Focus

THE XRP Registry is at the heart of Ripple’s solutions. The company initially focused on cross-border payments, using XRPL and its native asset, XRP, to facilitate efficient value transfer.

Specifically, XRPL’s low cost, speed, transparency, and scalability make it ideally suited to address the limitations of traditional financial systems.

Today, Ripple’s cross-border payments solution has near-global coverage. It covers over 80 payment markets, representing over 90% of daily foreign exchange markets. It has processed over $50 billion in volume.

However, Ripple has evolved beyond just payments. Ripple highlighted in the post that acquisition of Metaco, Metaco, a digital asset custody technology provider, has positioned itself to execute on its product roadmap on a global scale. Metaco will now be rebranded as Ripple Custody. The company is expanding its team and operations and opening a new office in Geneva.

Additionally, Ripple reiterated its intention to launch the Ripple USD (RLUSD) stablecoin on XRPL. RLUSD will be integrated with Ripple Payments to meet customers’ growing needs for cross-border payments alongside XRP.

XRP Ledger Preferred Chain for Institutional DeFi

Additionally, Ripple highlighted XRPL as the preferred blockchain for institutional DeFi due to its reliability, performance, low costs, and speed.

The company noted that stablecoins on XRPL are reliable and will enable new DeFi capabilities, new use cases, and new users. Additionally, Ripple emphasized that XRP remains the universal bridging asset. It is particularly beneficial for creating liquidity in regions where cross-border transaction costs are high.

XRPL is a key part of Ripple’s products due to its efficiency and scalability. The blockchain has processed over 2.8 billion transactions without failure or breach.

Additionally, XRPL is integrated DEX and advanced features like automatic bridging and pathfinding enable secure and compliant DeFi applications.

In parallel, Ripple and other projects including ArchaxSologenic, Orchestra Finance, Zoniqx, and CredeFi are building on XRPL. Their goal is to bring modern financial tools to traditional finance, leveraging blockchain.

Eventually, Ripple plans to integrate more advanced features of the XRP Ledger into its business, bringing the benefits of decentralized finance to customers around the world in a secure and compliant manner.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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