Ripple And XRP Could Capture Important Value From 2 Trillion Global Payments Market
Ripple and XRP have been making headlines a lot lately due to various significant partnerships and increased adoption of the company’s products.
Now, Grayscale institutional crypto asset manager released the year-end report on Ripple and XRP, according to reports from the Daily Hodl.
Revolutionizing the global remittance
This report covers the origins of both the San Francisco startup and the digital asset, and it also highlights Ripple’s attempt to leverage XRP and reshape the global remittance landscape.
“Together, XRP and XRP Ledger were designed to address liquidity challenges faced by financial institutions using traditional payment channels (i.e., SWIFT, ACH, FedWire system),” according to the notes in the report.
The official data also highlights the fact that “By providing the means for fast, secure, and low-cost conversions between varying units of value (e.g., commodities, fiat currencies, and other digital assets), the network has the potential to capture significant value from a global payments market worth an estimated $2 trillion USD.”
It’s also worth noting that Grayscale offers exposure to XRP via that Grayscale XRP Trust, and it highlights the difference that is present between the XRP Ledger and blockchain such as Bitcoin and Ethereum.
We recommend that you check out the complete report on Ripple and XRP.
2020 is expected to be the best year for cryptos
After a really great 2019 in which the crypto space has been marking a lot of developments and achievements, 2020 is expected to be an even better year.
This year, one of the main focuses was on the mainstream adoption of digital assets, and things have been going great in this direction.
In other news, it’s been revealed that Ripple released a brand new outlook on the blockchain and crypto industry and predicted that 2020 would be the year of the digital assets.
CEO, Brad Garlinghouse, believes some of the largest banks in the world will soon begin to “hold and trade” digital assets over the next year.
Speaking of trading, XRP is trading in the green today, and the digital asset is priced at $0.194309.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.