Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ripple CEO Brad Garlinghousehas revealed a $13 trillion opportunity, which cryptos like XRP and stablecoins could tap into. This came as he highlighted how blockchain technology is disrupting global finance with payments being made on-chain. Ripple CEO Reveals $13 Trillion Opportunity For XRP and Stablecoins
In a FOX Business interview, the Ripple CEO revealed that GTreasury, the company they bought last year, processed $13 trillion in payments, and none of these payments were done through a stablecoin or crypto assetsuch as XRP. He declared that there is an opportunity to integrate crypto and stablecoins as blockchain technology becomes the go-to for payment rails. Related Reading Ripple CEO Talked About A $13 Trillion Opportunity, But Will XRP Investors Benefit From It? 9 hours ago
Garlinghouse also described stablecoins as an entry point to crypto adoption, calling it the “ChatGPT moment” for crypto. Notably, $33 trillion total stablecoin trades happened globally last year. The Ripple CEOalso noted that cross-border payments have become faster thanks to blockchain technology.
The Ripple CEO recently revealedthat they launched the RLUSD stablecoin because their payment operations were contributing up to 20% of USDC flows. As such, they saw it fit to launch their own product. The RLUSD has seen significant adoption as Ripple continues to expand its payment services, boasting a market cap of $1.41 billion. XRP plays a key role in these payment services, as Ripple primarily uses the XRP Ledger to process them.
Crypto analyst ChartNerd notedthat this is also a big opportunity for XRP, given that the SEC has declared the crypto asset is not a security. As such, institutions could move to adopt the crypto asset for payments.
It could also enable Ripple to further integrate the altcoin into its payment services, seeing as it currently serves as the bridge currency. It is worth noting that during the recent interview, Garlinghouse again reiterated that XRP is the “North Star”for Ripple. Crypto Is Now Rewiring The Financial System
In an X post, the Ripple CEO said that market participants are now seeing a shift in the perception of the crypto industryfrom “rat poison” to “pet rock” and then to rewiring the financial system. He added that now, some of the biggest companies worldwide are asking if they are using stablecoins and crypto assets such as XRP. Related Reading Teucrium Founder Predicts What Will Happen To Ripple If XRP Price Goes To $3 1 week ago
Garlinghouse stated that Ripple has strategically focused their deal-making outside the echo chamber to bridge the gap between traditional finance (TradFi) and the crypto ecosystem and that those bets are paying off. The crypto firm notably acquired Hidden Roadand GTreasury, which it is now using to integrate XRP and RLUSD into the TradFi ecosystem.
At the time of writing, the XRP price is trading at around $1.34, up in the last 24 hours, according to datafrom CoinMarketCap. XRP trading at $1.36 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Pxfuel, chart from Tradingview.com