Is ripple’s XRP truly in competition with CBDC?

• The native token for the San Francisco-based blockchain initiative Ripple has been put in an unusual position due to the work of central-bank digital currencies (CBDCs).
• This is especially the case due to the fact that they almost copy what the token does when utilised in cross-border payments.

The native token for the San Francisco-based blockchain initiative Ripple has been put in an unusual position due to the work of central-bank digital currencies (CBDCs).

This is especially the case due to the fact that they almost copy what the token does when utilised in cross-border payments.

For a while now, many people have been off the mindset that the native token for the company is the rival too many stablecoins and central bank digital assets. But according to one of the top executives from the company, the token can complement these other digital currencies and stablecoins rather than competing with them. Speaking in a recent interview with FXcoin, the head of global operations at the company, Emi Yoshikawa said that instead of putting up a fight against these other kinds of asset classes, the token conserve as a bridge to add to the collective efforts to improve liquidity in international payment settlements.

For a long time now, the San Francisco-based outfit has been fronting the sector of innovative payment solutions in order to increase liquidity whilst also pushing down costs in transactions. These efforts have been recognised by many as revolutionary with some of the solutions including RippleNet already being adopted by numerous banking institutions all over the world. It’s safe to say that the company is one of the biggest in the crypto and blockchain industry.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!