Ripple President Monica Long has reaffirmed the idea of an XRP exchange-traded fund (ETF). In a recent interview, Long told CNBC reporters that an XRP ETF would be a sensible initiative.
“If you think about it, only XRP and Bitcoin have regulatory clarity on status in the U.S. XRP has been a top 10 asset by market cap and is about the top 5 if you look at daily traded volume. So, I think that it will make a lot of sense,” she stated.
Long also predicted that digital assets will see increased institutional adoption. The Ripple exec noted that sophisticated investors are entering the crypto market through Bitcoin ETFs and tokenized assets.
Meanwhile, Ripple CEO Brad Garlinghouse asserted that spot XRP ETF seems “inevitable.” In his CNBC interview, Garlinghouse opined that approving spot ETFs would benefit investors who prefer portfolio diversification. He also expressed optimism about the potential success of upcoming Ethereum ETFs.
Furthermore, Ripple is venturing into the stablecoin sector, with Long projecting a launch by the end of 2024.
“We are working on all the things you need to do in order to bring a product like this to market,” she expressed.
She added that XRP would remain relevant even after the stablecoin’s launch, serving as a bridge asset.
Long referenced projections suggesting the stablecoin market could surpass $3 trillion in cumulative market cap within the next five years. She noted the growing demand for stablecoins, citing their convenience for accessing US dollars and facilitating payments in various global regions.
Ripple Exec Highlights Real-World Asset Tokenization and Stablecoin Initiatives at Money 20/20 Europe
Ripple’s Monica Long provided insights into the company’s recent initiatives during the Money 20/20 Europe 2024 event in Amsterdam. Long discussed the increasing interest in real-world asset (RWA) tokenization market participants and spotlighted the company’s new venture into the stablecoin market.
“Great catching up with Arjun Kharpal in beautiful Amsterdam on recent Ripple momentum, including growing demand for RWA tokenization from our custody customers and our entry to the stablecoin market,” Long stated on X.
Through collaborations, ripple is exploring RWA tokenization on the XRP Ledger (XRPL). For instance, the company has partnered with digital asset management pioneer Zoniqx tokenization services to XRPL.
Ripple’s momentum is further supported by its strategic alliances. Recently, Ripple partnered with global payments provider Clear Junction to enhance customers’ GBP and EUR payouts.
