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The XRP Ledger (XRPL) stands on the brink of a transformative shift. Ripple, the company behind XRP, is gearing up to introduce smart contracts, with plans to roll out this functionality as soon as next year. Currently, smart contracts are in the research phase, but the groundwork is being laid with the development of XRPL […]
The move aims to attract developers and expand XRP Ledger's capabilities, bringing new use cases to its ecosystem.
Xaman, the leading crypto wallet on the XRP Ledger, has launched its latest iteration, version 3.0, introducing a range of…
The post XRPL Wallet Xaman Debuts v3, Introducing Monetization Strategy first appeared on The Crypto Basic.
Ripple is set to launch a new token standard on the XRP Ledger this month, aiming to enhance its support…
The post Ripple Launching New Token Standard on XRP Ledger first appeared on The Crypto Basic.
The decline in activity and the rise in transaction costs on the XRP Ledger are a significant shift from the previous quarter.
Ripple and Archax have taken a giant leap forward in the world of blockchain technology with their renewed collaboration, marking major headway for the tokenization of real-world assets on the XRP Ledger (XRPL). The potential is hundreds of millions in tokenized assets moving onto XRPL, something that will be a game-changer if done well in […]
Ripple is now more focused on integrating advanced XRP Ledger features into its business to deliver secure and compliant decentralized…
The post Ripple Promotes Vision to Leverage XRP Blockchain for Global DeFi Expansion first appeared on The Crypto Basic.
Japanese financial giant and Ripple partner SBI begins the minting of XRPL-based NFTs for the 2025 World Expo in Japan,…
The post Ripple Partner SBI Mints 920 NFTs on XRPL for the 2025 World Expo in Japan first appeared on The Crypto Basic.
Ripple (XRP) introduces XRPL EVM Sidechain with Axelar Bridge to enhance interoperability and streamline asset transfers. (Read More)
Blockchain technology is poised to reshape the financialworld, and Ripple is at the forefront of this transformation, with its XRPLedger pushing the boundaries of whats possible. Amid the vibrant energy ofthe XRP Ledger Apex 2024, an exclusive interview with Markus Infanger, VP ofProduct at Ripple, shed light on the companys pioneering approach toblockchain in the financial sector. Speaking with Markus we delved into how thecompany is crafting a compelling narrative that positions XRP Ledger at the centerof the financial revolution.
We want to use blockchain technology to solve friction and problems in thefinancial market today, stated Markus Infanger, VP of Product at Ripple,during our exclusive interview at XRP Ledger Apex 2024. As the conferencebuzzed with innovative ideas and blockchain enthusiasts, Infangers insightsstood out, reflecting Ripple's commitment to revolutionizing the financiallandscape through pragmatic and sustainable applications of blockchaintechnology.
In an era where the crypto space is often marred by hype and speculation,Ripples focus on tangible solutions to real-world problems marks a refreshingand strategic approach. Infanger elaborated, Our insertion point has reallybeen with payments. Payments take days to settle; they cost an average of 6%today. Theres a very obvious value proposition for this technology. Ripple'sstrategy is not just about introducing blockchain for the sake of novelty, butabout leveraging its strengths to address persistent inefficiencies intraditional finance.
Solving Real-World Problems with Blockchain
Markus was clear about Ripple's mission from the outset:We want to use blockchain technology to solve friction and problems in thefinancial market today. That has been true since day one. This vision isn'tjust theoretical. Ripple has been making substantial strides in real-worldapplications, particularly in payments, an area fraught with inefficiencies.Payments today take days to settle and cost around 6%. Thats come down from9% a few years ago, but it's still significant, Markus noted, underscoring theclear value proposition Ripple offers.
Ripples success is evident in its daily operations.Processing billions of dollars in real-world payments with regulated financialinstitutions, Ripple showcases the practical advantages of blockchaintechnology. Markus emphasized, The XRP Ledger processes transactions in 3 to 5seconds at a fraction of a cent, and its been doing that for 12 years withoutmajor security issues. This level of efficiency and reliability is a testamentto Ripples robust infrastructure.
Expanding Beyond Payments
Beyond payments, Ripple is expanding its horizons byintroducing more financial primitives to the XRP Ledger. Recently, theylaunched an automated market maker integrated with the native decentralizedexchange. Were working on expanding these financial primitives. A lendingprotocol is next, which will unlock significant potential. Its more secure andaggregates liquidity on the core protocol, Markus explained. This move towardsenhancing the protocol itself rather than relying solely on smart contracts, asseen with Ethereum, highlights Ripples commitment to security and efficiency.
Supporting a diverse developer community is another pillarof Ripples strategy. Markus shared that developers are building variousfeatures and applications on the XRP Ledger, leveraging its robustcapabilities. This inclusive approach fosters innovation and ensures that theecosystem continues to thrive with a wide range of projects.
Compliance and Regulation: A Strategic Approach
Compliance and regulation are often seen as barriers in thecrypto world, but Ripple has a different perspective. We have always been andwill continue to be a compliance-first mindset company. We believe inblockchain technology being transformational rather than disruptive, Markusstated. This approach ensures that Ripple works within the existing financialsystems, aiming to enhance rather than overthrow them. By doing so, Ripplebuilds something sustainable that can integrate smoothly into current frameworkswhile gradually increasing efficiency.
Happening now: Graham Rodford (@ArchaxEx) speaks on his experience with bringing financial institutions onchain and the importance of RWA tokenization on the #XRPL #XRPLApex 2024 pic.twitter.com/80dcpjPF3P
XRP Ledger Apex (@xrplapex) June 13, 2024Usability remains a significant challenge for blockchainadoption. Markus drew parallels to the early days of the internet, wheregetting online was a cumbersome process. Its still kind of clunky. Usersshouldnt have to understand blockchain technology to benefit from it, heremarked. Simplifying user experience is crucial for wider adoption, and Rippleis actively working on making its technology more accessible.
On the Internet of Value, Interoperability, and the Future of Blockchain Networks
Interoperability between different blockchains is anothercritical aspect. Markus pointed out that having thousands of blockchainnetworks operating independently would replicate the fragmentation seen intraditional financial systems. We believe the future will be multi-chain. TheXRP Ledger wont be the only chain; it needs to work seamlessly with others,he said. This vision of interconnected networks is essential for creating acohesive financial ecosystem.
Looking ahead, Ripple envisions the XRP Ledger continuingto lead in real-world financial transactions. Markus articulated, We have thisvision of the Internet of Value, where money moves as seamlessly as informationdoes today on the internet. The XRP Ledger, with its efficiency and security,will be a central hub for liquidity around financial transactions. Thisambition reflects Ripples commitment to not only expanding its use cases butalso playing a pivotal role in the broader financial landscape.
Despite the progress, challenges remain. Regulatoryuncertainty is a significant hurdle, as highlighted by a survey Rippleconducted with the Faster Payments Council in the US. 90% of respondents saidregulatory issues are the biggest showstopper for using more crypto inpayments, Markus revealed. Positive developments are happening, but theregulatory environment continues to be a critical factor in the crypto space.
A Pragmatic Approach to Blockchain Innovation
Ripples pragmatic approach, combining innovation withcompliance, positions it uniquely in the blockchain industry. The companysfocus on real-world applications, developer support, and regulatorycollaboration sets it apart as a leader in driving the financial sectorsevolution.
In conclusion, Ripples journey is a testament to thetransformative potential of blockchain technology. Through the XRP Ledger,Ripple is not just envisioning a future where financial transactions are moreefficient and inclusive; it is actively building it.
As Markus aptlysummarized, We believe the XRP Ledger will be a central hub for liquidityaround financial transactions, powering real-world financial applications andcreating a more efficient global financial system. This vision, grounded in practicalachievements and forward-thinking strategies, marks Ripple as a trailblazer inthe digital payments realm.
This article was written by Pedro Ferreira at www.financemagnates.com.
On the ground for XRP Ledger Apex 2024, we caught up withJazzi Cooper, Lead Product Manager at Ripple X and a major driving force behind its ambitious mission. In anexclusive interview, Jazzi shared insights into Ripple X's role in reshapingthe financial landscape and paving the way for a future powered by blockchaintechnology.
Why Traditional Finance Needs a Disruption
"Traditional finance rails today, as we know, areinsufficient. Payments take multiple days if not weeks (...) and settlement is slow," Jazzi remarked,setting the stage for a discussion on the urgent need for disruptive solutionsin the financial sector.
The bold promise of blockchain technology lies in itspotential to revolutionize financial systems, a vision embodied by Ripple X andits dedication to the XRP Ledger. As traditional financial infrastructuresstrain under the weight of inefficiencies, Ripple X champions a future wheretransactions are swift, transparent, and decentralized. This ambition is notmerely a theoretical exercise but a concerted effort to redefine how value istransferred and recorded.
One of the main drivers for this charge is Jasmine Cooper,affectionately known as Jazzi, who heads the Institutional DeFi Products group.Her teams mission is to cultivate a suite of products that capitalize on theunique strengths of the XRP Ledger, thus offering a robust alternative to theentrenched financial systems that dominate today's markets.
On Redefining Value Transfer
"The XRP Ledger is purpose-built for value transfer.We think it's a very ideal blockchain environment for the issuance, themovement, the trading of tokens," Jasmine emphasizes, underscoring theplatform's suitability for disrupting traditional finance.
Central to Ripple X's strategy are three key productverticals: tokenization, financial protocols, and infrastructure. Tokenizationinvolves the creation of digital tokens that represent real-world assets,offering a new avenue for asset management and investment. Financial protocolscover on-chain trading and lending, leveraging blockchains transparency andefficiency. The infrastructure vertical focuses on building the essentialcomponents, such as oracles and cross-chain bridges, which support the seamlessoperation of these systems.
The CEO of #Ripple, Brad Garlinghouse, has revealed the name of their new stablecoin at the #XRPLApex 2024 event. The stablecoin will be called "Real USD" and is represented by the ticker symbol $RLUSD. pic.twitter.com/RdKDsoJw3z
Collin Brown (@CollinBrownXRP) June 12, 2024Out with the Old?
"Most of fintech today, all of your neobanks, all ofyour digital wealth advisors, these have moved a little bit forward by offeringnice UIs... But they're still sitting on the same old rails.
As a stark contrast, one of the most exciting developments at Ripple X is theintroduction of multipurpose tokens, a new standard designed for thetokenization of real-world assets.
"We've introduced a new token standard calledmultipurpose tokens that's purpose-built for tokenization of real-worldassets," explains Jasmine, shedding light on Ripple X's commitment toinnovation.
This innovation allows metadata to bedirectly attached to the blockchain asset, ensuring a higher degree ofreliability and utility. Such advancements pave the way for more sophisticateduse cases, such as bond and equity tokenization, and open up new possibilitiesfor asset management and investment.
Accessible Blockchain for All: User-Centric Design & Financial Inclusion
Shifting gears, Jasmines perspective on the interplay between technologyand society underscores a fundamental truth: technology must align with userneeds and expectations to achieve widespread adoption.
We ultimately have to meet people where they are in termsof their tolerance for usability, for risk, for trust, user experience that theydemand across the board," Jazzi added.
This principle guidesRipple Xs development efforts. Instead of imposing complex, crypto-nativesolutions that might alienate everyday users, Ripple X aims to meet users wherethey are, providing intuitive and accessible products that leverageblockchains advantages without overwhelming complexity, thus emphasizing theimportance of user-centric design.
Financial inclusion is another cornerstone of Ripple Xsvision. By democratizing access to financial services, blockchaintechnology can empower individuals in regions where traditional bankinginfrastructure is inadequate or nonexistent. Decentralized lending protocols,for example, can offer capital to those who lack access to conventionalfinancial institutions, thus fostering economic opportunities and growth inunderserved communities.
Looking ahead, Ripple X is poised to make significantstrides in the realm of real-world asset tokenization. Upcoming announcementsand projects promise to further integrate blockchain technology into varioussectors, enhancing the liquidity and utility of digital assets. Additionally,the EVM side chain initiative aims to bridge Ethereums extensive developercommunity with Ripples robust infrastructure, creating synergies that coulddrive further innovation and adoption.
Wrapping up
In the face of skepticism and the noise surroundingcryptocurrencies, Ripple Xs commitment to practical, impactful solutionsstands out. By focusing on real-world problems and developing technology thatenhances user experiences, Ripple X is not only pushing the boundaries of whatblockchain can achieve but also ensuring that these advancements are accessibleand beneficial to a broad audience. The future of finance, as envisioned byRipple X, is one where blockchain technology seamlessly integrates into ourdaily lives, enhancing efficiency, transparency, and inclusion in ways thattraditional systems have long struggled to deliver.
This article was written by Pedro Ferreira at www.financemagnates.com.Ripple, the global leader in enterprise blockchain and crypto solutions, has launched the XRPL Japan and Korea Fund to encourage innovation on the XRP Ledger, two of the world’s most dynamic markets. The fund will be used to support various initiatives that enable the utilization of XRPL utility in these regions. According to the announcement, […]
Ripple has revealed a major pivot for the XRPL EVM Sidechain, opting to transition from the originally planned XLS38D bridge…
The post Ripple Plans Pivot of XRPL EVM Sidechain from XLS38D to Axelar Bridge This Year first appeared on The Crypto Basic.
Ripple joins the Hedera and Algorand Foundations and industry players to advance a recovery standard to rival ERC-4337.
Key Takeaways: The Future Internet journal has now formally published a paper that, for the very first time in academia, confirms Ripple Custody’s support for Hedera Hashgraph. The report presents a wallet model for regulated entities holding multi-chain digital assets, such as XRP and HBAR. This confirmation places Ripple Custody at the forefront of cross-chain […]
Key Takeaways: The XRP Ledger (XRPL) has formally activated Deep Freeze, a new tool designed to push the compliance and security standards for tokens issued on the blockchain to the next level. Although XRP itself does not change, Deep Freeze provides protocol-level granularity in terms of controlling issued assets, which allows issuers to directly impose […]
xREnergy ($XRE) is a real-world asset (RWA) cryptocurrency on the XRP Ledger (XRPL) that tokenizes ownership in energy-related assets.
The XRP Ledger (XRPL) witnessed an impressive 113% growth in daily transactions in Q1 2024, reaching 2.7 million. Crypto analytic…
The post Daily Transactions on XRPL Soared 113% to 2.7M in Q1, Latest Record Shows first appeared on The Crypto Basic.
Data from top crypto analytics platform Messari shows that the price of XRP decreased 0.1% Quarter-on-Quarter (QoQ) while its market…
The post Report: XRP Price Dropped 0.1% While Market Cap Rose 1.3% in Q1 2024 first appeared on The Crypto Basic.
The XRP Ledger (XRPL) added three stablecoins, EURØP, USDB, and XSGD, to its ecosystem this week. According to the announcements, each of the tokens is backed by fiat currencies and will reinforce XRPL’s role in the fast-evolving global stablecoin market. Notably, XRPL is fast becoming a top choice for stablecoin issuers and institutional players due […]
The post XRP Ledger sharpens competitive edge with fresh stablecoin additions of EURØP, USDB, and XSGD appeared first on CryptoSlate.
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