In recent years, XRP has ceased to be viewed as a speculative token and is playing a key role in the new model of global finance. According to experts like Pumpius, Wall Street is beginning to realize that XRP represents something much greater than just an investment asset.
The Role of XRP in the New Financial System
Pumpius asserts that XRP was initially created as a liquidity protocol, not as a meme cryptocurrency for market speculation. It serves as the foundation for instant transactions in the global economy, facilitating the efficient movement of funds without intermediaries.
Ripple Becomes a Bank: Key Changes
Ripple has applied for a national banking charter in the U.S., which could significantly expand its influence on the financial market. If approved, Ripple would gain access to the resources of the Federal Reserve and could function as a bank.
Coordination in Financial Evolution
Ripple is not the only company seeking a banking charter. Circle, issuer of USDC, has also submitted such an application. Thus, a new financial landscape is forming, where blockchain technologies compatible with ISO 20022 are emerging to potentially replace outdated systems.
XRP and Ripple play a crucial role in the evolution of financial systems, transitioning to new methods of interaction. Wall Street realizes it is losing control over the system, which generates fear about potential changes.
