Foreign media: Chief Executive Officer of Canary Capital, Steven McClurg, argues that XRP has the opportunity to gain a stronger position in the competition for institutional financial infrastructure. He gave two main reasons: the XRP Ledger is pushing forward with institutional lending, and the XRP transactions in the Korean market have significantly expanded in recent months.
Institutional lending is seen as a new catalyst
McClorg mentioned that Cicada Credit, in partnership with Clearpool, is introducing institution-oriented credit capacity into XRP Ledger. In his view, such operations went further than simple chain transfers and transactions and could expand the use of XRP in the financial scene.
In his view, institutional-level lending, if successfully landed, could drive more funds into the XRP ecology. This is due to the fact that institutions tend to focus more on accessible credit markets, revenue opportunities and sustainable capital use scenarios than on the efficiency of the movement of the coin itself.
A counter-judgment to the centralization dispute.
McClugg also responded to a long-standing criticism by XRP that its structure is more central than part of the public chain. In his view, this was not necessarily a disadvantage, but might be more in line with the preferences of some institutional users.
According to the article, his judgement is that institutional investors tend to place greater emphasis on controllability, stability and business interface efficiency when entering the block-chain financial infrastructure; in contrast, retail users tend to prefer less centralized networks.
Korea's trading volume has risen significantly.
McClugg also listed South Korea as one of the most interesting markets for XRP today. He mentioned that XRP transactions on the Korean Exchange Upbit had increased by 273 per cent since March.
He believed that the Korean market was dynamic and related to the size of the local population and the extent to which the Korean Won was active in the encryption trade. In its terms, Korea and the United States are now the two most important trading markets for XRP.
The article also mentions that McClugg believes that the XRP is more prominent in the Korean market, while the ETA maintains a stronger sense of presence in markets such as those in the United States and Canada.