DeFi

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/advancements-in-blockchain-and-ripples-growing-role/" data-wpel-link="internal">Advancements in Blockchain and Ripple’s Growing Role</a> 
The crypto market continues to focus on blockchain developments. Traditional finance (TradFi) companies are warming up to the idea of tokenizing financial assets on public blockchain ecosystems as the race for blockchain-based tokenization intensifies. According to RippleX Senior Vice President Markus Infanger, TradFi players are finally bringing financial assets to the ecosystem to deploy in production and solve pain points across various value chains. 
<h2 class="p1" style="text-align: justify" id="noteworthy-statements-for-ripple">Noteworthy Statements for Ripple</h2> 
During Paris Blockchain Week, Markus Infanger spoke exclusively, stating that TradFi’s use of blockchain is finally taking concrete shape: 
<blockquote> 
 “We are initiating a paradigm shift towards real benefits, moving beyond the hype of blockchain technology. It’s starting to develop.” 
</blockquote> 
The executive mentioned that research estimates the future value of tokenized markets at $16 trillion, which is eight times larger than the total market value of the entire cryptocurrency sector: 
<blockquote> 
 “A few years ago, many of us could only dream of such developments in this field. It’s becoming a reality and happening on public blockchain networks. At one point, it seemed like it would only happen with JPMorgan Coin or at IBM.” 
</blockquote> 
Infanger added that <a href="https://en.coin-turk.com/technical-analysis-of-the-cryptocurrency-market-a-closer-look-at-ripple/" data-wpel-link="internal">Ripple</a>‘s business has become more holistic by integrating various solutions that leverage XRPL. Although Ripple is commonly seen as a prepayment company providing blockchain-based payment solutions to address economic and financial disputes, recent developments have increased its attractiveness to both TradFi and decentralized finance (<a href="https://en.coin-turk.com/decline-in-defi-market-volume-in-august-reasons-and-developments/" data-wpel-link="internal">DeFi</a>) players: 
<blockquote> 
 “We have a custody arm, a payments arm, and our contributions to the XRP Ledger. This combination offers a holistic crypto asset infrastructure value proposition for developers looking to solve traditional finance and DeFi issues.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-341716 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/Markus-Infanger.webp" alt="" width="1024" height="683"> 
<h2 class="p1" style="text-align: justify" id="what-to-expect-in-the-coming-period">What to Expect in the Coming Period?</h2> 
Ripple’s recently announced plans to launch its own stablecoin project pegged to the US dollar on XRPL and <a href="https://en.coin-turk.com/significant-increase-in-ethereums-on-chain-activity/" data-wpel-link="internal">Ethereum</a>, complementing the offerings to institutions. Infanger elaborated on the driving force behind Ripple’s stablecoin project, noting that considering the off-chain market is approximately $22 trillion, the stablecoin market could reach $2.8 trillion within five years: 
<blockquote> 
 “We are currently at $130 billion, indicating a clear demand and an expected tremendous growth trajectory. We are truly still in the early days.” 
</blockquote> 
Another significant factor is the ongoing demand from developers in the XRPL ecosystem for top-tier stablecoin offerings like USD Coin or Tether. Infanger mentioned that Ripple has been using XRP and its payment product in small-scale experiments, as well as stablecoin projects: 
<blockquote> 
 “We envision our corporate DeFi use case on XRPL with tokenization, followed by our payments product and stablecoins using XRP, among other use cases and the XRP ecosystem as a whole.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/advancements-in-blockchain-and-ripples-growing-role/" data-wpel-link="internal">Advancements in Blockchain and Ripple’s Growing Role</a></h5>

Advancements in Blockchain and Ripple’s Growing Role

Table of Contents

COINTURK NEWS

Other articles published on Apr 18, 2024

JPMorgan Anticipates Bitcoin Value Drop After Halving, Considers Event Predetermined

Crypto Game Tamadoge Pursuit Launches With $100-A-Day Giveaway

Injective and Jambo partner to bring mobile-based DeFi to millions in emerging markets

Dogecoin Faces Potential Price Corrections Despite Recent Gains

Maximizing Opportunity Amidst A Changing Global Economic Climate: Margex Analyst

BEFE Coin: Shaping the Future of Crypto Prosperity

Join our free newsletter for daily crypto updates!