Ripple continues to focus on the institutional payment and monetization asset infrastructure. Corporate executives have recently indicated that this direction has not changed and that the objective remains to provide banks, payment service providers and businesses with block chain tools that can be used for cross-border transfers and asset settlement.
In an exchange with Grayscale Research, the Senior Vice-President of Ripple Stabilization Currency Operations, Jack McDonald, stated that the company had been based on an institutional financial infrastructure since its inception, hoping to increase the efficiency of the transfer of funds and monetized assets to levels close to the Internet.
Piloting of monetization bonds
In May this year, Ripple and Mastercard, Morgan Chase, OkX and Ondo Finance were involved in a partnership to connect traditional financial and digital assets. A key development in this cooperation is the completion of the cross-bank, cross-border monetization of the United States Treasury foreclosure test on XRP Ledger.
According to Ripple, the pilot demonstrated how regulated financial institutions could more quickly complete the issuance, transfer and redemption of real-life monetization assets between different banking networks. The report sees this progress as a further step towards entering the financial scene of the institution.
Clear division of labour between RLSD and XRP
According to McDonald, RLUSD and XRP have different roles in the Ripple system. RLUSD is a United States dollar-linked and stable currency, which is mainly oriented towards scenarios such as payments, funds management, DeFi and the settlement of monetized assets, with a focus on providing the agency with a fixed-priced clearing tool.
XRP has been positioned as a bridging asset to provide immediate liquidity and near real-time cross-border settlement capability. The combination of the two would allow for a more flexible configuration between stable settlement, liquidity on demand and cross-border transfer of funds.
Next steps continue to expand the network of institutions
It appears from the statement that the next phase of Ripple will continue to drive business around the expansion of institutional networks and the construction of the base infrastructure. As the market for monetized assets continues to expand, companies are trying to combine XRP Ledger, XRP and RLUSD into an infrastructure linking traditional financial and chain capital markets.
Additional information:The report is based primarily on public statements by corporate executives, with the core message being the long-term layout of Ripple ' s institutional client, stable currency settlement and monetized asset scenes.