In simpler terms, Monica Long, Ripple‘s president, predicts that American banks will initiate tokenized asset projects and cryptocurrency storage solutions by the year 2025. This prediction is based on the anticipation that President Donald Trump might revoke the crypto accounting policy (SAB 121), which currently considers digital assets as bank liabilities.
Ripple President Anticipates Tokenized Asset Growth in 2025
Monica Long, President of Ripple, recently shared her optimism about the growth of tokenized assets within the banking industry by 2025, assuming there’s regulatory clarity in the U.S. In a recent social media post, she pointed out that 15 of the world’s top 25 banks have already begun exploring tokenized asset projects. She emphasized this by saying:
It’s likely that many will introduce their products ready for sale in the US market by 2025, assuming they receive approval from the U.S. government to work with cryptocurrencies.
As a forward-thinking crypto investor, I firmly believe that the challenges surrounding the acceptance and use of tokenized assets in the financial sector will be a thing of the past by 2025. This progressive shift would undeniably open up a broader horizon for the adoption of these innovative digital assets within our industry.
After hearing that President Trump plans to sign executive orders on his first day in office, including one to rescind SAB 121’s contentious cryptocurrency policy which requires banks to list cryptocurrencies as liabilities, Long made his remarks. The crypto sector is anticipating significant changes in the regulatory landscape for cryptocurrencies following Trump’s inauguration next week, according to expectations.
Trump’s Executive Order on Crypto Policy
As a researcher delving into the subject, I can share that a source close to the matter has conveyed that Trump has underscored the importance of this issue. Financial analyst Frank Chaparro further explained that Trump’s move could bring about a transformative shift, enabling major banks to penetrate the digital asset custody sector in cryptocurrencies.
As a researcher, I observed that when significant financial institutions start providing crypto custody services, it could drastically alter the market infrastructure by incorporating credit and substantially boosting liquidity. In simpler terms, more credit means more liquidity, a factor that could serve as a “strong wind” propelling the cryptocurrency industry forward.
Chaparro proposed that this advancement might serve to moderate market fluctuations, signifying an important step towards the widespread acceptance and stability of digital currencies. The use of Ripple’s XRP could see significant growth following these developments, having previously encountered numerous obstacles due to the ongoing XRP lawsuit.
It’s intriguing to observe what significant adjustments Scott Bessent, the incoming US Treasury Secretary, might implement for the cryptocurrency sector. In a comprehensive 31-page correspondence, Senator Elizabeth Warren, who is critical of cryptocurrencies, has posed sharp inquiries regarding the shifts in crypto policy.
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2025-01-14 12:12