As an analyst with over two decades of experience in the financial industry, I find myself intrigued by the potential strategic advantages that Ripple and its XRP token could bring to the United States. Having witnessed the rise and fall of numerous financial institutions and technologies, I can confidently say that Ripple’s next-generation B2B cross-border payments system, controlled by a US company, presents an unprecedented opportunity for the US to dominate both the traditional finance and crypto niches.
Currently, there’s a lot of buzz surrounding Ripple’s XRP token due mainly to its volatile price movements, a seemingly advantageous stance from the Securities and Exchange Commission (SEC), and the potential positive impact it could have on the worldwide financial infrastructure.
Instead of other cryptocurrencies, Ripple’s XRP has a unique focus: it aims to cater to the banking industry by providing an efficient and affordable global payment system. A well-respected figure in the crypto world suggests that the U.S. could leverage Ripple’s financial knowledge and control over XRP to assert dominance in both finance and the cryptocurrency market.
In a recent post, Anders, a cryptocurrency analyst, contends that the United States could leverage Ripple’s knowledge and employ its token as a “tactical asset.” He further emphasized that no other project within the crypto sphere possesses the same abilities as Ripple, particularly with plans underway to launch a USD-backed stablecoin.
Main reasons why Ripple along with XRP is a strategic weapon for the US:
Ripple has built a next-generation B2B cross-border payments system controlled by a US company.
RLUSD has the potential to broaden the global adoption of the US Dollar, particularly among financial organizations.
— Anders (@X__Anderson) December 2, 2024
US As ‘Crypto Capital,’ According To Trump
In the tenure of Donald Trump as the U.S. President for a second time, there’s a strong possibility that the United States could emerge as the global leader in cryptocurrencies. This stance was hinted during his campaign, where he expressed an intention to foster a pro-cryptocurrency climate. For instance, one of his proposals involved swiftly replacing Gary Gensler as the chairman of the Securities and Exchange Commission (SEC).
Initially cautious about Bitcoin, Trump surprisingly endorsed Bitcoin-related policies during the election campaign. This includes proposing the establishment of a country’s Bitcoin reserve and appointing David Sacks as a “crypto advisor,” which highlights his commitment to the crypto sector.
Ripple’s XRP Can Improve Cross-Border Payments
As a researcher exploring digital payment systems, I’ve come across compelling arguments that underscore why Ripple could be advantageous for the United States. Primarily, Ripple has developed a cutting-edge business-to-business cross-payment system, which is one of the key factors that make it attractive.
Anders additionally emphasized the business’s intention to launch its stablecoin, RLUSD, which could enhance the adoption of USD within financial institutions. The company is also anticipating approval from the New York Department of Financial Services (NYDFS) before they can release the stablecoins on the XRP Ledger and Ethereum networks.
Once approved, The Standard Custody & Trust Company is given the authority to release these stablecoins. Similar to XRP, Ripple’s users can utilize these stablecoins for international transactions when it comes to cross-border payments.
Ripple’s Massive XRP Holdings
Besides his remarks, Anders also pointed out the substantial amount of XRP held by the company, which serves as a potential national resource. This crypto expert went on to clarify that Ripple is the dominant holder of 45% of the total XRP supply.
Later on, Anders returned to Trump’s election manifesto, expressing his belief that now is the moment to back US-focused cryptocurrency tokens and businesses. Furthermore, he emphasized that no other crypto project currently offers the same components and attributes as this one. Lastly, he hinted that Ripple will soon introduce Decentralized Finance (DeFi) products, suggesting that this is merely the start for them in this field.
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2024-12-10 08:42