Swedish asset manager Virtune XRP has praised a key feature of its cryptocurrency. The praise comes after the company launched its digital currency Exchange Traded Product (ETP)which will allow investors to gain exposure to XRP.
XRP is the “ideal choice” for international transfers
in press release In announcing the launch of the Virtune XRP ETP, the asset management firm said that XRP is ideal for international remittances because transactions using the cryptocurrency token are completed in seconds. Virtune also noted that XRP offers “unparalleled transparency and reliability” thanks to its “robust and secure blockchain technology.”
The asset manager also claimed that Low Transaction Fees for XRP “It’s a huge advantage, especially for large-volume transfers.” Additionally, Virtune stated that XRP is backed by “a strong community and is supported by ripple“It is a leading company in the fintech industry.”
Virtune’s praise for XRP once again highlights how XRP is gaining a reputation as the future of cross-border payments. With XRP, Ripple is disrupting the global financial system and establishing itself as a viable alternative for international remittances through Ripple’s payments service.
Interestingly, Ripple CEO Brad Garlinghouse Once mentioned One analyst said that XRP could become the next Bitcoin if the cryptocurrency becomes widely accepted for cross-border payments. He noted that this could bring trillions of dollars to XRP, which would undoubtedly cause its value to skyrocket.
XRP’s utility as a crypto token for cross-border payments is also part of the reason why people like Wall Street financial analyst Linda Jones are betting on its potential. She once said, Proposal Many analysts believe that XRP could take over Bitcoin to become the face of the crypto market and have even likened it to Apple and Microsoft stocks, suggesting that it could be the next big thing in the financial market.
Virtune Launches First XRP ETP on Nasdaq
Virtune’s XRP ETF has launched on the Nasdaq Stockholm exchange and will provide a way for institutional investors to gain exposure to XRP. Virtune CEO Christopher Cook revealed that this will be the first XRP ETP listed on the Nasdaq exchange. He also stated that the investment product is 100% physically backed by XRP, which is stored by Coinbase cryptocurrency exchangecompany secretary.
It is worth noting that XRP ETF This possibility still exists in the United States, especially after Van Eck and 21 Shares filed for Spot Solana ETFThe approval of these funds is likely to lead to an increase in applications for cryptocurrency ETFs, with the Spot XRP ETF likely to be next on the list after the Spot Solana ETFS.
Garlinghouse also believes that a Spot XRP ETF will be launched sooner or later. mentioned During the Consensus 2024 conference, he stated that Spot XRP, Cardano, and Solana ETFs are “inevitable.” He previously stated that XRP has already gained regularity of clarityWhich is another reason why he believes a Spot XRP ETF will launch at some point.
At the time of writing, XRP is trading at around $0.47, its highest level in the past 24 hours, according to Data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com