Ripple Promotes Vision of Leveraging XRP Blockchain for Global DeFi Expansion

Ripple is now more focused on integrating the advanced features of the XRP Ledger into its business to offer secure and compliant decentralized finance solutions to customers around the world.

Ripple CTO David Schwartz confirmed this in a recent post on X following the company’s latest publication. In the report, Ripple outlined its overarching ambition to emerge as the leading digital asset infrastructure solutions provider for the financial services industry.

Ripple relationship highlighted the demand for digital asset infrastructure in the financial sector. Founded on the belief that blockchain would be the global monetary infrastructure, Ripple has evolved to meet growing demand over the past decade.

Initially, the cryptocurrency industry lacked the liquidity, trust, regulation, and guidance needed for businesses to integrate blockchain solutions.

To provide some context, when Ripple launched in 2012, targeting institutions, Bitcoin was under $20, Ethereal had not yet launched and the cryptocurrency market was relatively small, with only a few operating exchanges handling just a few million dollars in annual trading volume.

However, a decade later, the industry has made significant progress. It now sees trillions of dollars in monthly volume. Additionally, Cryptocurrency ETFsTokenized funds and increasing adoption by financial institutions are now a reality.

However, institutions still need a reliable digital asset infrastructure to integrate blockchain into their operations. Ripple is working to solve this problem by assembling the core components that businesses need to incorporate blockchain into their operations. These components include custody solutions, access/exit rampsliquidity and compliance.

XRP Ledger in Focus for Ripple

THE XRP Registry is at the heart of Ripple’s solutions. The company initially focused on cross-border payments, using XRPL and its native asset, XRP, to facilitate efficient value transfer.

Specifically, XRPL’s low cost, speed, transparency, and scalability make it well-suited to address the limitations of traditional financial systems.

Today, Ripple’s cross-border payments solution boasts near-global coverage. It covers over 80 payment markets, representing over 90% of daily FX markets. Specifically, it has processed over $50 billion in volume.

However, Ripple has evolved beyond just payments. Ripple highlighted in the publication that acquisition of Metaco, a digital asset custody technology provider, has positioned itself to execute its global product roadmap. Metaco will now be renamed Ripple Custody. The company is expanding its team and business and opening a new office in Geneva.

Additionally, Ripple reiterated its plans to launch the Ripple USD (RLUSD) stablecoin on XRPL. RLUSD will be integrated into Ripple Payments to meet the growing needs of customers in cross-border payments alongside XRP.

XRP Ledger Preferred Chain for Institutional DeFi

Additionally, Ripple has highlighted XRPL as the blockchain of choice for institutional DeFi due to its reliability, performance, low cost, and speed.

The firm noted that stablecoins on XRPL are trustless and will enable new DeFi capabilities, use cases, and users. Ripple also emphasized that XRP remains the universal bridge asset. It is especially useful for creating liquidity in regions with high cross-border transaction costs.

Emphatically, XRPL supports Ripple’s products due to its efficiency and scalability. The blockchain has processed over 2.8 billion transactions without failure or breach.

Additionally, the integrated XRPL DEX and advanced features like auto-bridging and pathfinding enable secure and compliant DeFi applications.

In parallel, Ripple and other projects, including ArchaxSologenic, Orchestra Finance, Zoniqx, and CredeFi are building on XRPL. Their goal is to bring modern financial instruments to traditional finance, leveraging blockchain.

Ultimately, Ripple plans to integrate more advanced features of the XRP Ledger into its business, thereby bringing the benefits of decentralized finance to customers around the world in a secure and compliant manner.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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