đ XRP as a Global Reserve Currency? New Perspectives on the Horizon đ
The idea of using XRP as a global reserve currency is gaining traction, especially among key figures in the financial and cryptocurrency sectors. Here are the key points on this topic:
Oliver Michel on XRP đ
On February 28, 2024, Oliver Michel, CEO of Tokentus Investment AG, shared his vision for the future of XRP during an interview with Der Aktionaer. Michel emphasized that XRP has the potential to become a global reserve currency by solving issues related to cross-border transactions, making them faster and cheaper. He highlighted XRPâs ability to provide liquidity for foreign exchange reserves and international transactions, positioning it as an attractive candidate for a global reserve currencyâ.
David Schwartz on XRP đOn September 4, 2023, David Schwartz, CTO of Ripple Labs, suggested in an X Space session that XRP could indeed be elevated to the status of a global reserve currency. Schwartz pointed out the potential of XRP and Rippleâs On-Demand Liquidity (ODL) service to facilitate efficient transactions between central banks, especially with the rise of Central Bank Digital Currencies (CBDCs). Rippleâs bridging technology could play a crucial role in enabling these transactions, giving XRP a unique advantage in the marketâ.Banks and XRP đŚItâs also worth noting that XRP and Rippleâs technology can help central banks conduct efficient and low-cost transactions. Michel emphasized that Ripple has developed technology that enables quick and inexpensive currency conversions to XRP and then to other currencies, potentially revolutionizing how central banks transact with each otherâ.SEC Meeting đď¸On August 7, 2024, a crucial meeting between Ripple and the SEC was planned, potentially to end the long-standing legal battle between them.
đ Sources:CoinpediaTradingViewDailyCoinWatcher.Guruâ Do you think XRP has the potential to become a global reserve currency? Share your thoughts in the comments! đŹ
