3 reactions
Grayscale considers XRP a strong contender in cross-border payments
Grayscale Investment's latest report has highlighted XRP as a formidable competitor to traditional cross-border payment systems like SWIFT, citing its ability to facilitate faster transactions at lower costs. The Crypto Sector framework, which evaluates several leading cryptocurrencies, places XRP with a 4% market cap share, ranking it second after Bitcoin (BTC) in terms of market dominance.
The analysis by Grayscale comes amidst conversations about the investment firm potentially reinstating support for XRP. This speculation follows the GBTC Trust's anticipated conversion into an ETF and the recent favorable ruling on July 13 that determined XRP is not a security. Despite this ruling, Grayscale has not reintegrated XRP into its GDLC vehicle since halting support in January 2021 due to an SEC lawsuit against Ripple .
Bitcoin, meanwhile, received accolades within the report as a financial safe haven for individuals in countries experiencing high inflation rates. Grayscale's framework also reviewed other prominent cryptocurrencies such as Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Monero (XMR), and Bitcoin SV (BSV), notably leaving out Ethereum (ETH) from their evaluation.
The focus on XRP's potential and Bitcoin's role as a safe haven asset underlines the shifting perspectives in the cryptocurrency market and Grayscale's strategic approach to digital asset investment. As the landscape evolves, Grayscale's actions, especially regarding XRP, are closely watched by investors and industry observers alike.
Read More: https://ca.investing.com/news/stock-market-news/grayscale-considers-xrp-a-strong-contender-in-crossborder-payments-93CH-3187281
Grayscale Investment's latest report has highlighted XRP as a formidable competitor to traditional cross-border payment systems like SWIFT, citing its ability to facilitate faster transactions at lower costs. The Crypto Sector framework, which evaluates several leading cryptocurrencies, places XRP with a 4% market cap share, ranking it second after Bitcoin (BTC) in terms of market dominance.
The analysis by Grayscale comes amidst conversations about the investment firm potentially reinstating support for XRP. This speculation follows the GBTC Trust's anticipated conversion into an ETF and the recent favorable ruling on July 13 that determined XRP is not a security. Despite this ruling, Grayscale has not reintegrated XRP into its GDLC vehicle since halting support in January 2021 due to an SEC lawsuit against Ripple .
Bitcoin, meanwhile, received accolades within the report as a financial safe haven for individuals in countries experiencing high inflation rates. Grayscale's framework also reviewed other prominent cryptocurrencies such as Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Monero (XMR), and Bitcoin SV (BSV), notably leaving out Ethereum (ETH) from their evaluation.
The focus on XRP's potential and Bitcoin's role as a safe haven asset underlines the shifting perspectives in the cryptocurrency market and Grayscale's strategic approach to digital asset investment. As the landscape evolves, Grayscale's actions, especially regarding XRP, are closely watched by investors and industry observers alike.
Read More: https://ca.investing.com/news/stock-market-news/grayscale-considers-xrp-a-strong-contender-in-crossborder-payments-93CH-3187281
| 18,000 mlx | |
| 15 | |
| 3 |