Ripple aims to dominate the digital asset infrastructure space for financial services, focusing on key components like on- and off-ramps, custody, compliance, and liquidity. The company shared its ambitious vision in a recent blog post, highlighting its evolution alongside the maturing crypto market.
As per the blog post, founded over a decade ago, Ripple bet early on institutional DeFi’s potential to create a fairer financial system. Since then, the crypto landscape has transformed dramatically, with major developments like the U.S. approval of Bitcoin and Ethereum ETFs and the EU’s comprehensive MiCA regulations.
Amid industry advancements, Ripple tailored its approach to meet the escalating need for reliable blockchain integration in traditional finance. Expanding its offerings, the company now provides a robust digital asset framework for financial institutions that goes beyond its original focus on international money transfers.
A pivotal moment in Ripple’s growth occurred in 2023 when it acquired Metaco, a renowned digital asset custody provider catering to leading banks worldwide. This strategic move bolstered Ripple’s standing in the custody sector, paving the way for the rebranding of Metaco as Ripple Custody and the establishment of a new branch in Geneva.
Launch of Ripple USD (RLUSD) and integration plans
Looking ahead, the company plans to launch its own stablecoin called Ripple USD (RLUSD). This stablecoin will work on both the XRP Ledger and Ethereum blockchains. This aims to connect traditional finance and cryptocurrency. The company also plans to add RLUSD to its Ripple Payments service along with XRP.
The company will keep using the XRP Ledger. They assert that it is efficient, secure, and has built-in finance tools like a decentralized exchange. Ripple’s CTO, David Schwartz, tweeted about plans to further use the XRP Ledger’s advanced features in their business.
Nevertheless, the company has wide experience in traditional finance and crypto. Their goal is to offer a complete digital asset system. This connects the traditional and crypto worlds safely and legally.
