Ripple is Accelerating the Digitalization of Global Financial System, Ripple President Says
According to Ripple President Monica Long, her crypto company is playing a crucial role in the process of digitalizing the payment infrastructure.
This is paving the way for a new and advanced financial system, where one of the key instruments will be the altcoin XRP.
Long emphasized that traditional finance is hindering the global economy’s growth and a solution to this would be the wider adoption of digital currencies.
In addition to XRP, other cryptocurrencies like Bitcoin and Ethereum can also play a significant role. Long revealed that she had read reports from the International Monetary Fund and the Financial Stability Board, where both organizations acknowledged the increasing use of tokens in emerging economies.
In countries such as Argentina, Zimbabwe, and Nigeria, people are increasingly turning towards cryptocurrencies and USD-backed stablecoins.
Ripple is urging for a faster pace in the legalization of cryptocurrencies globally. Naveen Gupta, the company’s top executive, believes that the regulatory environment should be lenient enough for startups to attract investments and contribute to the development of infrastructure.
