- 70% of financial leaders confident in crypto, driven by significant factors for adoption, tweeted Ripple.
- Ripple’s prominent position as a crypto service provider hints at continued expansion.
- TapJets files Amicus Brief supporting XRP’s utility amid a legal battle with SEC.
According to a recent tweet from Ripple, over 70% of financial leaders worldwide are expressing confidence in the cryptocurrency market this year. The tweet suggests that this surge in optimism is driven by significant factors contributing to the growth of crypto adoption. Furthermore, given that Ripple holds a prominent position as a leading crypto service provider for financial institutions, the prevailing confidence among finance leaders in the cryptocurrency market may signal the likelihood of its continued expansion in the future.
The tweet highlighted tokenization’s potential for global innovation, impacting the trading of public stocks, private shares, events, games, and metaverses. Blockchain’s integration could revolutionize finance as leaders leverage it to drive company innovation. Distributed Ledger Technology (DLT) adoption offers improved operational efficiency, data management, and financial flexibility.
Recently, HSBC publicly expressed its admiration for Ripple and its cross-border payments technology. The bank is optimistic about the possibility of other financial institutions adopting a similar approach by leveraging Distributed Ledger Technology (DLT) and utilizing tokens representing central bank currencies.
In addition to micropayments and cross-border transactions, Ripple’s tweets noted that businesses now have the opportunity to accept digital currencies as payment for goods and services. This emerging trend presents a fertile ground for Ripple’s expansion, given its established position in providing financial services to a diverse array of companies and financial institutions worldwide, including major banks. With a clientele of over 300 institutional partners, Ripple’s reach is extensive.
Furthermore, its on-demand liquidity platform (ODL) enables rapid international fund transfers using the XRP token, a notable advantage over traditional bank transactions like SWIFT, offering speedy and efficient cross-border remittances.
During the ongoing legal dispute between Ripple and the US SEC, private jet company, TapJets submitted an impactful Amicus Brief, elaborating on XRP’s practicality. According to crypto attorney John E Deaton, XRP offered a solution to TapJets’ “Friday Night Problem.” This issue arose because, on Friday evenings, banks remain closed, leaving no access to cashiers or certified checks, or wire transfers. Furthermore, credit card acceptance comes with substantial fees ranging from 3% to 5%. In contrast to the aforementioned constraints, XRP shines as an available option 24/7, facilitating swift payment settlements within a maximum of 5 seconds.
