In a recent tweet, former banker Kyren shared his fascinating views on how XRP and XLM could disrupt the world of payments.
Leveraging his extensive experience in the banking industry, Kyren shed light on the inherent flaws within the traditional financial system and why he believes XRP and XLM hold the potential to revolutionize the sector.
The Flaws of Legacy Payment Systems
Kyren pointed out the inefficiencies of international payments, which often take up to two days and incur high fees or substantial transaction percentages. He emphasized the transformative power of cryptocurrencies like XRP and Stellar Lumens (XLM) in addressing these challenges.
According to Kyren, XRP and XLM allow for rapid and cost-effective value transfers on a global scale, with fees costing only a fraction of a cent. He confidently stated that this revolutionary capability could render payment service providers (PSPs) and Nostro accounts obsolete.
One significant revelation from Kyren’s insights was the potential for banks to eliminate the necessity of Nostro accounts by utilizing XRP for large transfers. Nostro accounts, typically maintained by banks, tie up funds to ensure liquidity during cross-currency transactions.
Kyren argued that by adopting XRP as a bridge asset between currencies, banks could streamline their operations and bypass the need for Nostro accounts altogether. This approach would not only save time but also minimize unnecessary costs associated with managing multiple accounts.
Expanding on his vision for a transformed financial landscape, Kyren emphasized that cryptocurrencies offered a way for individuals to send money globally without the interference of intermediaries charging excessive fees, such as PayPal.
Alongside XRP and Stellar Lumens (XLM), Kyren highlighted the potential applications of other cryptocurrencies, including WadzPay (WTK), within the banking sector.
Additionally, he mentioned the potential of distributed ledger technology (DLT) to streamline banking operations. Drawing on personal experience, he humorously hinted at the possibility of DLT eventually taking over traditional tasks performed by bankers, including manual updates to payment ledger systems.

A Future of Efficiency and Innovation
In the concluding remarks of his insightful tweet, Kyren expressed his anticipation for the transformative power of blockchain technology in the payments landscape. He firmly believes that cryptocurrencies such as XRP, XLM, and WTK can usher in a more secure, instant, and efficient financial system.
“I eagerly await the day when blockchain reshapes the world of finance. In the near future, we will witness a paradigm shift that brings unprecedented efficiency and convenience,” stated Kyren with optimism.
As the financial industry continues to evolve, Kyren’s unique perspective serves as a thought-provoking reminder of the disruptive power and transformative potential that cryptocurrencies like XRP and Stellar Lumens (XLM) could bring to the payments ecosystem.
*Disclaimer:
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