Ripple’s
Unlike other tokens, Ripple’s XRP aims to serve the banking sector by offering a cost-effective global settlement system. Now, a crypto expert claims that the United States can use the company’s financial expertise and control over XRP to dominate the finance and cryptocurrency niches.
Anders, a cryptocurrency researcher, argues in a post that the United States can leverage Ripple’s experience and use its token as a “strategic weapon.” He went on to say that no other project in the crypto space can match Ripple’s capabilities, especially now that there is a plan to launch a dollar stablecoin.
Main reasons why Ripple together with XRP is a strategic weapon for the US:
🔹 Ripple has created a next-generation B2B cross-border payments system controlled by an American company.
🔹 RLUSD will be able to expand the use of USD around the world, especially for financial institutions…
– Anders 🏁🌏 (@X__Anderson) December 2, 2024
United States as ‘crypto capital’, according to Trump
Under the second administration of incoming President Donald Trump, the United States is positioned to become the “crypto capital” of the world. During the election campaign, then-candidate Trump promised to create a cryptocurrency-friendly environment. For example, he immediately promised eliminate Gary Gensler as chairman of the SEC.
Although Trump was initially skeptical of Bitcoin, he made a dramatic shift during the election season, showing his support for Bitcoin-focused policies. For example, Trump has proposed the creation of a national Bitcoin reserve. In addition, he recently appointed a “crypto czar” David Sacks, underlining his promise to the industry.
Ripple’s XRP can improve cross-border payments
According to Anders, Ripple and XRP can work for the US for three crucial reasons. Ripple has a modern cross-company payment system and since it is a US company, it is easier for the US government to control the company and its infrastructure.
Anders also highlighted the company’s plan to issue its stablecoin, RLUSD, which can improve USD adoption among financial companies. The company is also waiting for the green light from the New York Department of Financial Services (NYDFS) to issue stablecoins on the XRP Ledger and Ethereum mainnets.
Standard Custody & Trust Company is authorized to issue these stablecoins once approved. Ripple users can use these stablecoins for cross-border payments, just like XRP.
Ripple’s Huge XRP Holdings
Anders also commented on the company’s huge holdings of XRP, which can be used as the country’s “strategic asset.” The cryptocurrency researcher further explained that Ripple controls 45% of the token’s supply, making it the largest holder of XRP.
He then reviewed Trump’s election statement and said that it is time to support US-based tokens and companies. Anders went on to say that no other project in the crypto space has these elements and features. He added that this is just the beginning for Ripple and that it will soon host DeFi products as well.
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