Ripple Labs’ Involvement in US Treasury Report
Ripple Labs, the company behind the XRP cryptocurrency, was featured in a 2018 US Treasury report titled “A Financial System That Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation.” This report was submitted to then-President Donald Trump under Executive Order 13772.
Ripple’s Role in the Fintech Ecosystem
The report outlines the core principles of the US financial system, including the specific role of nonbank financial institutions and emerging Fintech companies. Ripple was listed as one of the financial and technological entities that participated in designing the framework for the report.
This participation shows that US authorities recognize Ripple’s strategic importance in the financial ecosystem and its position as a key player in the Fintech sector, specifically in the blockchain and digital asset industry.
Ripple’s Vision for XRP
In 2023, Ripple CEO Brad Garlinghouse predicted that XRP could be integrated into the US financial system. After a landmark ruling in the case against the US Securities and Exchange Commission (SEC), Ripple’s general counsel, Stu Alderoty, stated that the company is hopeful that this decision will encourage financial institutions to consider using XRP for cross-border payments.
Ripple’s Position in the Market
At the time of writing, XRP was trading at $0.54, having declined by 2.5% in the last 24 hours. Some analysts predict that the XRP price will rise significantly once financial institutions move from testing XRP to full-scale adoption.
**It is important to note that this is not financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions.**
