Ripple and XRP are reshaping the future of international remittances by addressing the trillion-dollar issues in global finance.
With the goal of restructuring the cross-border payment market and getting closer to the role of the first crypto bank in the United States, Ripple is ushering in a new era in finance, significantly impacting the traditional banking system.
MAIN CONTENT
Ripple is confirmed by CEO Brad Garlinghouse as the only company currently with real customers addressing real issues in the global payment market.
XRP is emerging as an effective solution to the cost and speed difficulties in cross-border remittances worth trillions of USD.
Ripple's application for a banking license in the United States and opening a legitimate account at the Fed could mark the beginning of a disruption to the traditional financial system.
What challenges is Ripple CEO asserting Ripple and XRP are addressing in the global market?
CEO Brad Garlinghouse emphasizes that Ripple is the only company with real customers that are addressing significant challenges in the international remittance field. With a cross-border trading market worth trillions of USD, XRP plays a key role in optimizing financial operations and reducing time costs, thereby enhancing efficiency in global payments.
Mr. Garlinghouse stated at an international conference in 2025: “Looking more broadly, we are fortunate to be the only company with real customers addressing specific issues.” This is not only a statement but also a declaration of Ripple's unique position in the global cryptocurrency and Blockchain ecosystem.
XRP plays a crucial role in refreshing the method of cross-border remittances, addressing significant bottlenecks in the financial industry.
Brad Garlinghouse, CEO of Ripple, July 2025
Why is XRP seen as a solution to the trillion-dollar problem in international remittances?
XRP significantly reduces transaction fees and confirmation times compared to traditional methods thanks to advanced Blockchain technology and the decentralized payment system developed by Ripple. According to the 2024 industry report, the cross-border payment market is estimated to be worth over $10 trillion annually, but much of it still suffers from high costs and significant delays.
With the capability to handle thousands of transactions per second, low gas fees, and network stability, XRP is expected to become the core platform for international remittances for banks and financial institutions worldwide in the near future.
Ripple applies for banking license in the United States – what are the reasons and implications for the traditional financial system?
Ripple is in the process of applying for a banking license in the United States while aiming to open a direct account at the Federal Reserve, becoming the first crypto bank to receive official support from the U.S. financial system. This will allow Ripple to hold reserves with the Fed, provide FDIC-insured deposits up to $250,000, and lend using cryptocurrency assets like XRP as collateral.
Financial expert Rebecca Chen assesses: “If approved, this will be a turning point in integrating Blockchain technologies with the traditional banking system, creating a revolutionary advance in the financial industry.” This process could see unprecedented changes in international payment systems and banking within the next 2 years (2025-2026).
Ripple's application for a banking license and Fed account signals a significant transformation in the traditional financial industry, opening a new era of integration between Blockchain technology and the banking system.
Rebecca Chen, Blockchain Financial Expert, 2025
How do XRP and Ripple differ from other cross-border remittance solutions?
XRP stands out due to its operating model based on ultra-fast Ledger technology and lower costs compared to traditional means or other cryptocurrencies. Ripple provides integrated solutions for banks and financial institutions, thereby improving liquidity and accelerating cross-border remittance processes.
Ripple/XRP Traditional method Other cryptocurrencies Transaction speed Thousands of transactions/second Hours to days Minutes to hours Transaction fees Very low High due to intermediaries Volatile, high during network congestion Deposit insurance Aiming for FDIC Has FDIC No Banking integration High, legal in the U.S. if approved Naturally Low, depending on the exchange and regulations
Frequently Asked Questions
What is Ripple and what problem does it solve? Ripple is a company developing Blockchain solutions to improve international payments, reducing costs and transaction times for a trillion-dollar market. What role does XRP play in the Ripple ecosystem? XRP is the main cryptocurrency providing liquidity and facilitating fast, low-cost transactions on the Ripple network. What does Ripple's application for a U.S. banking license mean? This allows Ripple to operate as a legitimate bank, offering financial services that integrate cryptocurrency and improve the existing payment system. Can Ripple replace the traditional banking system? Ripple has the potential to change the banking system with Blockchain technology and empower DeFi, but it must go through a process of scrutiny and widespread adoption. Is XRP safe to invest in? XRP is developed by Ripple and has many major partners; however, investing in cryptocurrency always carries risks, requiring thorough research and consulting experts.
Source: https://tintucbitcoin.com/ripple-xrp-hom-nay-tang-gia-moi/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!