- Jake Claver of Syndicately highlighted Ripple’s strategy to target large-scale payments solutions for governments and enterprises, not just retail.
- Despite its focus in institutional finance, Ripple’s XRP Ledger is struggling to gain traction in Decentralized Finance.
Jake Claver of Syndicately Investments, the CEO, shared recent insights on Ripple’s business strategy and how it differs from that of other blockchain projects. Ripple, he said, primarily concentrates on payment solutions for large scales rather than adoption by retail.
Claver highlighted Ripple’s business-driven approach on the X platform social media. He said that “Ripple’s business model targets large-scale payment solutions for enterprises and governments.” Ripple’s efforts to simplify cross-border payment have been acknowledged for many years, according to the CNF report.
Claver’s statement highlights the fact that XRP’s parent company’s value proposition centers around providing solutions for financial Institutions, central banks and corporations. Claver stated that although retail investors still have the option to use XRP or hold it on their XRP Ledgers, Ripple is now a more institutionalized system. “primary aim is to facilitate institutional-grade transactions and cross-border settlements with speed and efficiency.”
How is Ripple different from other blockchains?
Ripple’s retail-based approach sets it apart from the other blockchain ecologies. Claver elaborated, “Ripple isn’t reliant on individual retail adoption like some other blockchain projects.” The company is instead building financial Infrastructure that supports governments and major corporations. Ripple’s unique approach makes it a leader in the blockchain industry.
Ripple’s enterprise-focused solutions do not align with DeFi and the retail market. XRP Ledger has been a project that was initially promising for decentralized financial services. However, it is struggling to gain traction, especially in DeFi, meme currencies, and other sectors. reported Crypto News Flash
Artur Kirjakulov (founder and CEO of XPMarket) also highlighted the disappointing performance of the XRP Ledger eco-system. His market capitalization has recently fallen to an all-time low of $80,000,000. Kirjakulov believes that this is due to the withdrawal of capital and developers from the ecosystem.
RLUSD Launch & Legal Battles
Ripple has also made strides towards institutional finance. Ripple’s RLUSD stablecoin entered beta testing early this summer. David Schwartz is Ripple’s Chief Technology officer. According to him, the RLUSD will be a stablecoin. “only ever be available” Retail participants are replaced by institutional clients. reported CNF.
Currently the team mints RLUSD using the XRP Ledger as well as Ethereum’s mainnet. The blockchain company also aims to revolutionize payments on the blockchain by launching its stablecoin in the latter part of this year.
Ripple’s legal win last year was also a big deal. A court’s summary verdict favored Ripple. It was expected that U.S. based financial Institutions would be likely to use XRP for cross-border transactions.
Court documents have revealed, however, that USDT was used by the firm for its On Demand Liquidity solution (ODL). This may be a change from XRP. Nevertheless, this latest relief has brought the firm a lot of joy. XRP now enjoys legal clarity. The SEC penalty was reduced by 94%.
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Source: www.crypto-news-flash.com