[ccpw id="39382"]

HomeCrypto NewsMarketXRP Poised for Impact: Ripple Director Says Crypto Industry Set to Expand 100x, Invest in Infrastructure

XRP Poised for Impact: Ripple Director Says Crypto Industry Set to Expand 100x, Invest in Infrastructure

Date:

In a thought-provoking discussion on the future of money at the AIM Summit in Dubai, Navin Gupta, Ripple’s Managing Director for the Middle East & South Asia, urged people to commit to infrastructural investment.

First, the host delved into the growing prominence of fiat stablecoins, crypto, and CBDCs, prompting Gupta to outline a vision of the financial system five years from now.

Gupta pointed out the diminishing boundary between fiat and crypto. He foresees a future where stablecoins, such as USDT and USDC, blur the lines by representing traditional currencies. He drew parallels with the evolution of communication from letters to emails, envisioning a financial paradigm shift where money could move seamlessly across borders at a minimal cost.

- Advertisement -

Moreover, he highlighted the transformative impact of reducing transaction costs, paralleling the email revolution that made instant communication possible at nearly cost-free. 

Using the example of a transaction between an Omani supplier and a UAE buyer, he illustrated how the current payment system causes a 30-day loss of capital productivity. In this context, the Ripple director explained that improving money’s velocity catalyzes economic growth. 

Specifically, he argued that reducing the time between debit and credit transactions could significantly enhance working capital efficiency, which is feasible with the fusion of fiat and crypto, ultimately leading to increased transaction volumes and fostering economic productivity.

Payments Now Becoming Smaller Part of Ripple

Meanwhile, the Ripple Middle East managing director shared that payments are taking a back seat at Ripple. He revealed the company is now expanding its focus on a myriad of emerging opportunities in the crypto space. 

- Advertisement -

According to him, Ripple, traditionally known as an enterprise crypto payment solutions company, is now positioning itself as a comprehensive one-stop shop for institutions delving into cryptocurrencies.

Gupta explained that Ripple is actively developing solutions to cater to various needs of institutions, whether it be tokenization, payments, or custody. The aim is to become the go-to platform for institutions seeking to leverage crypto for diverse purposes.

XRP Poised for Impact as Crypto Industry Set to Become 100x Bigger

Ultimately, Gupta concluded the panel discussion with a strategic piece of advice for investors. In his vision, the crypto industry would become 100 times bigger in the coming years. 

He drew an analogy to the gold rush era, highlighting the timeless importance of infrastructure. Gupta stated that those who provide essential tools and platforms such as Ripple will thrive.

“Don’t worry about where digital assets are going; invest in picks and shovels. You can’t go wrong with that,” he recommended. 

With XRP being one of the core digital assets in Ripple’s infrastructural solutions to businesses and institutions, it implies XRP has a brighter future in the projected evolution coming to the financial landscape.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

-Advertisement-

Author

Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

More from Author

Latest Stories

Guides