Ripple with a long-run vision has already integrated XRP into its blockchain products. These products are eventually put in place with payment processing systems across global banks and financial institutions, which makes Ripple mark a big win.
Ripple’s Long Term Plan To Make XRP a Huge Success
Due to regulatory uncertainties around Facebook’s controversial cryptocurrency, Libra, Ripple with its native token, XRP, pops up very often. However, Brad Garlinghouse doubts on Facebook’s smooth running Libra operation across the world; he urged that Facebook should comply with regulators to make Libra a considerable success.
Now when Libra is stuck with regulatory uncertainty from the legal watchdogs across the world, XRP community is hinting bullish sentiments on Ripple’s smart move of dealing with regulators effectively. Also, how efficiently the firm is even offering crypto-based solutions to banks and fintech players across the payment industry.
The fact is that Ripple is successfully offering its blockchain products such as xRapid, xCurrent, RippleNet, and others to banks, financial entities across the world which are accompanied by Ripple’s native token, XRP. It’s worth noting that the firm is also moving forward by complying the regulatory policies with the respective country’s regulations.
Bridging the Gap
Henceforth XRP community view that Ripple is bridging the gap in the payment industry and that makes XRP a winner on that playing field. Echoing a similar concern, an XRP community member referred to an old post of Ripple’s CTO David Schwartz and explained in a tweet that;
As Ripple’s CEO, Brad Garlinghouse says, regulatory approval is must for any token to attain long-term success, Ripple is likely en-route on the same. Moreover, it has recently issued an open letter to US regulators, requesting policies that actually encourage blockchain and crypto industry and not that risk innovation, tax revenue, and employment.
Furthermore, the firm has received “non-security” issue for XRP from UK regulator, Financial Conduct Authority (FCA), which also a quite huge deal. While the FCA didn’t specifically write about XRP, it compares it to Ethereum and indicates that it can either be an exchange token or can be a utility one. Indeed, the security token clarity on XRP was important because the company in the past faced legal action in the US over its alleged sale of “unregistered security.”
With that being said, Ripple has largely invested in MoneyGram, a global payment firm. Recent reports even suggest that it is now looking to invest in multiple companies after MoneyGram.
Ripple and XRP’s mark on crypto as well as blockchain industry is quite impressive, and it’s worth waiting to see how well it flourish in future days to come.
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