Co-founder of Ripple, Chris Larsen recently gave a briefing to Cheddar where he spoke about current developments and performance of the company. In addition, Larsen also mentioned the current competition in the market and explained Ripple’s key strategies in facing the competitors.
According to Larsen, more and more companies nowadays aim at solving list of issues in the field of cross-border payments which is a positive development for the market. “We’ve been at it longer than anybody. What matters is what corridors you have, the number of partners. We’ve got hundreds of banks, payment providers, remittance companies. Not just in experimentation mode, but in full production mode”, continued Larsen.
Further on he also commented on regulatory environments worldwide stating that some of the visible positive developments here have been made in Southeast Asia, Japan, and Korea. In addition.
Larsen also shared that Ripple’s key targets currently include the Middle East as well as India. He went on commenting: “we are seeing the world light up. The US is obviously very important in that dollar clearing. We feel great about the progress we have made with American Express. We have got some other partners that we are really really excited about”.
Larsen also talked about the price of XRP where he stated: “the asset needs to be serving an actual use case, barring which it would just be speculation… Over the long run it is going be a combination of deep liquidity market makers. More importantly, it has to have a use case. The use case of the XRP Ledger and XRP the digital asset is really around initially reducing the cost of liquidity for cross border payments”.
He eventually made it clear that they believe that XRP is a strong and long lasting cryptocurrency which has all the potential to be used worldwide. “Long-term, we think it is clear winner in this race to be another digital asset for the world for all use cases. It is a long term play. You can’t just be a store of value for the sake of being a store of value, you actually have to have a use case”, concluded Larsen.
Full briefing is available here.