A recent discussion about XRP's real-world usage intensified when researcher SMQKE disproved investor Fred Krueger's claim regarding the token's non-use.
SMQKE's Response to Krueger's Statement
Investor Fred Krueger stated, “Not one actual human being is using XRP. Not one.” In response, SMQKE countered this claim as factually incorrect, asserting, “‘No one’ uses XRP… except for hundreds of financial institutions like American Express, Bank of America, and Santander. But don’t let facts get in the way of a good narrative.
XRP’s Use in Financial Infrastructure
SMQKE presented a chart illustrating institutional use of XRP by numerous financial institutions including American Express, Bank of America, and Santander. XRP serves as a bridge currency for international transactions and settlements.
Significance and Advantages of XRP
XRP functions as a bridge currency, allowing for fast and low-cost international transactions and currency exchanges. This makes it attractive to banks and payment providers, supporting global financial activities. SMQKE emphasized that XRP is aimed at institutional use, as opposed to cryptocurrencies designed primarily for retail investors.
SMQKE's reply to Krueger highlights the importance of XRP in the financial ecosystem and the distinction between its use in institutional and consumer segments. It demonstrates XRP's real role in supporting international financial operations.
