- Ripple exec says crypto’s pain is behind, future looks bright.
- Fed’s regulatory shift boosts Ripple, propelling XRP’s future growth.
- Ripple’s RLUSD stablecoin hits top five, surpassing expectations.
Ripple’s Senior Executive Officer and Managing Director for the Middle East and Africa, Reece Merrick, has confidently stated that the worst is behind the cryptocurrency market. In a bold statement, Merrick emphasized that the days of pain for crypto are over, largely due to the evolving and favorable regulatory environment.
This optimistic view comes on the heels of a major shift from the Federal Reserve, which recently withdrew its 2023 guidance that had prevented uninsured banks from joining the Fed and engaging in crypto activities.
The guidance had previously been a key factor in the Fed’s denial of Custodia Bank’s master account, but with the reversal of this policy, the landscape for crypto institutions is improving.
Merrick praised this development, sharing his thoughts in response to the XRP community’s growing optimism. He added, “The pain is behind us now, and the future is looking good,” highlighting how this regulatory shift is setting a positive tone for the future of cryptocurrency.
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Ripple Expands with Major Collaborations and Investments
Ripple is also seeing significant growth in its business, with exciting new collaborations and investments. Notably, SBI Ripple Asia and Doppler Finance have decided to explore a partnership focused on XRP-based yield infrastructure and real-world asset (RWA) tokenization on the XRP Ledger. This collaboration aims to drive institutional-grade finance forward using Ripple’s blockchain technology.
In addition, Nasdaq-listed VivoPower is expanding its XRP strategy through a new joint venture, aiming to purchase hundreds of millions of dollars’ worth of Ripple Labs shares, giving investors indirect exposure to nearly $1 billion in XRP.
Ripple’s RLUSD stablecoin, launched a year ago, has also reached a major milestone. Initially launched with ambitious goals, RLUSD has rapidly gained traction, becoming one of the top five USD stablecoins. Ripple’s Senior VP of Stablecoins, Jack McDonald, expressed his satisfaction with the stablecoin’s growth, while CEO Brad Garlinghouse reflected on his earlier prediction that RLUSD would be a top contender by year-end.
These developments show that Ripple is making significant strides in the crypto industry, and the future looks bright for the company as it continues to expand its influence in the financial world. With supportive regulatory moves and growing market adoption, Ripple is positioning itself for continued success in the evolving digital finance space.
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