Ripple’s XRP is one of the most talked about tokens at the moment, primarily thanks to erratic price action, a potentially favorable Securities and Exchange Commission (SEC), and potential benefit to the global financial system.
Unlike other tokens, Ripple’s XRP It aims to serve the banking sector by offering a cost-effective global settlement system. Now, a cryptocurrency expert has stated that the United States could use the company’s financial expertise and control of XRP to dominate the finance and cryptocurrency fields.
Anders, a cryptocurrency researcher, says in his post that the United States could benefit from Ripple’s expertise and use its token as a “strategic weapon.” He continued that there is no other project in the field of cryptocurrencies that can match the capabilities of Ripple, especially now with a plan to issue a stable currency in US dollars.
The main reasons why Ripple and XRP are a strategic weapon for the United States:
🔹 Ripple has built a next-generation business-to-business (B2B) cross-border payments system controlled by a US company.
🔹RLUSD will be able to expand the use of the US dollar around the world, especially for financial institutions…
– Anders 🏁🌏 (@X__Anderson) December 2, 2024
The United States as “crypto capital,” according to Trump
Under the second administration of incoming US President Donald Trump, the United States is in a position to become the number one country in the world “Cryptocapital” From the world. During the election campaign, then-candidate Trump promised to create a cryptocurrency-friendly environment. For example, promise it right away Remove Gary Gensler As Chairman of the Securities and Exchange Commission.
Although Trump was initially skeptical about Bitcoin, he made a dramatic shift during the election season, showing his support for Bitcoin-focused policies. For example, Trump has called for the creation of a national stockpile of Bitcoin. A. was also recently appointed “Cryptocurrency czar” David Sachs, emphasizing his promise to the industry.
Ripple’s XRP could improve cross-border payments
According to Anders, Ripple and XRP can operate in the US for three crucial reasons. Ripple boasts a modern B2B payment system, and since it is an American company, it is easier for the US government to control the company and its infrastructure.
Anders also stressed the company’s plan to issue its own stablecoin, RLUSD, which could improve the adoption of the US dollar 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 they are approved. Ripple users can use these stablecoins for cross-border payments, just like XRP.
Ripple’s huge holdings of XRP
Anders also commented on the company’s massive holdings of XRP, which could be used as a “strategic asset” for the country. The cryptocurrency researcher also explained that Ripple controls 45% of the token supply, making it the largest holder of XRP.
He then revisited Trump’s campaign manifesto, saying it was time to support US-based icons and companies. Anders continued that there is no other project in the cryptocurrency space that has these elements and features. He added that this is just the beginning for Ripple, and soon it will also host DeFi products.
Featured image from DALL-E, chart from TradingView