United States – Ripple’s XRP has become an integral part of today’s financial market. According to Ripple CTO Brad Garlinghouse, the company continuously examines the advantages and disadvantages of this payment system and takes an in-depth look at better innovations. Since 2019, over 90% of XRP belongs to escrow accounts that the company is inspecting. This situation is one of the things that Ripple take very seriously.
As a company that solve cross-border payments, Ripple wants to deliver better services and understanding in the market. Garlinghouse said that Ripple currently sells XRP to fuel cross-border payments using the On-Demand Liquidity instead of selling it on crypto exchanges for cash.
Furthermore, Ripple CTO Brad Garlinghouse also confirmed its possible relocation outside the United States due to the new and unclear regulation regarding blockchain technology and cryptocurrency. Some of the countries that Ripple consider are the United Kingdom, Switzerland, the United Arab Emirates, Japan, and Singapore.
However, Garlinghouse revealed that Japan had been one of Ripple’s most prominent markets, and the company has a very successful partnership with SBI, one of Ripple’s largest outside investor. SBI’s CEO is a smart innovator and pioneer plenty of things about technology and finance. Therefore, there is clarity that Japan might be the next Ripple headquarters.
Regarding Ripple’s popularity, Garlinghouse claimed that the company continues to provide better services than most banks in the United States. Since blockchain technology is faster, XRP delivers better performance in many areas than the traditional bank services.
Companies like Ripple outperform many banks in terms of pricing, API integration, speed, and overall customer experience. Therefore, critics appeal to financial institutions to develop new solutions and strategies. Otherwise, young companies like Ripple can steal thousands of customers. To stay competitive, banks need to level up their approach and catch up with the latest innovations.
Since 2019, Ripple has been working successfully with various banks across the US and Europe. These financial institutions use XRP o process cross-border payments in real-time. According to Ana Botin, Santander Bank’s CEO, almost 50% of their total transactions used Ripple’s One Pay FX.
In the past year, XRP has paved the way for many exciting opportunities. It is currently the fourth-largest cryptocurrency, and many investors see the platform’s future potential. Ripple’s XRP has excellent scalability, and many believe that it’s just a matter of time until the global economic system switches to cryptocurrency, especially Ripple’s XRP.