Ripple acquired Metaco for robust crypto custody solutions, aiming to be a one-stop shop for institutional clients.
Ripple partnered with HSBC to ease regulatory hurdles for HSBC's clients, focusing on tokenized assets like gold.
Ripple seeks to be the leading enterprise solution provider in the $10 trillion crypto custody market.
In a recent interview on the Thinking Crypto Podcast, Ripple CTO David Schwartz shared insights into Ripple’s strategic move into the projected $10 trillion crypto custody market. The discussion focused on Ripple’s acquisition of Metaco, a custody-focused firm, and its subsequent partnership with global banking giant HSBC.
Read on for a simple breakdown of what he had to say.
Schwartz stressed the importance of a robust custody solution in Ripple’s goal to be a comprehensive hub for institutional crypto adoption. The quarter-billion-dollar acquisition of Metaco positions Ripple to offer a range of services, covering XRP Ledger access, tokenization, and seamless payment solutions.
Excitement surrounded the partnership with HSBC as Schwartz revealed plans to provide cutting-edge digital asset custody services. HSBC’s role involves using technology for custody and offering compliance services, easing the regulatory path for institutions entering the crypto space.
The conversation explored the trajectory of the custody market, projected to hit $10 trillion by 2030 due to the rising trend of tokenization. Schwartz predicted that discerning institutions seeking comprehensive crypto solutions would lean towards providers offering a mix of services, including custody, payments, and liquidity.
The talk also delved into HSBC’s interest in tokenized commodities like gold and securities. Schwartz acknowledged the ongoing alignment of Ripple’s and Metaco’s strategies for optimal synergy, emphasizing Ripple’s goal to be the “leading enterprise solution provider in the space.”
“I think we’re still figuring out how to adjust Ripple’s and Metaco’s strategies to take advantage of what the other can provide.”
David Schwartz
Ripple’s strategic acquisitions and partnerships with Metaco and HSBC are helping the firm stand strong, as XRP ETFs or IPOs are not the company’s primary focus.
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Ripple acquired Metaco for robust crypto custody solutions, aiming to be a one-stop shop for institutional clients. Ripple partnered with HSBC to ease regulatory hurdles for HSBC's clients, focusing on tokenized assets like gold.
HSBC, a major global banking institution, has partnered with Metaco, a Ripple-owned technology startup, to build an institutional custody platform for tokenized assets.
For the coin to reach $1,000, its market cap would need to be $54.5 trillion – dwarfing crypto's entire current valuation. Chase introduced a hypothetical scenario where XRP attains the same $1 trillion market cap as Bitcoin, but even that would only push its price to $18.
Therefore, our XRP price prediction forecasts a price of $1.80 by the end of 2024. Depending on the lawsuit's outcome and crypto market conditions, it could go much higher, potentially reaching $3.10.
While the SEC hammers Ripple about XRP, the company continues to make major inroads with banking partners to use its blockchain technology. Ripple has signed over 300 clients globally, including giants like Santander, SBI Remit, and Euro Exim Bank.
Ripple (XRP) is a popular choice among banks worldwide. The network's fast transaction speeds, low gas fees, and energy-efficient consensus make it an ideal cryptocurrency for traditional financial institutions. Fortunately, this is exactly the clientele that Ripple Labs has in mind.
By April 2022, the price of the snake coin can reach up to $2. And by the end of 2022 the snake can even reach $3. Yes. XRP will hit $20 in just 5 years.
Can XRP reach $100? Reaching a $100 price point would mean a market capitalisation of roughly $5.2 trillion for XRP, considering the current circulating supply of about 52 billion. This would be more than four times larger than the current value of all cryptocurrencies combined.
XRP's price prediction for 2050 based on the S&P 500 index's historical ROI. If we again base our assumptions on S&P 500's historical ROI, a hypothetical $1,000 investment in XRP made in 2023 would grow to $22,718 by 2050. In other words, XRP's current price of $0.381 would increase by 2,171% to $8.65 in 2050.
Based on our long-term XRP Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the XRP Coin is projected to be around $22.199. Our average price forecast for XRP is $21.746 in 2040.
Throughout 2024, XRP is expected to move between $0.45 and $1.41 with an average forecasted price of $0.85. The forecasting analyst at InvestingHaven predicts XRP to move in a range between $0.40 and $0.88 throughout 2024 but increases upside targets for 2025 and 2026 to $3 and ultimately $10.
July 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.
In a recent proposal by Edward Farina, the Head of Social Adoption at #XRPUpdate Healthcare, a hypothetical scenario was presented whereby the price of XRP has the potential to see a significant increase, reaching a value of $10,000.
That would mean XRP's market capitalisation needs to exceed the GDP of China. So, in short, it's impossible that we will see a $500 XRP anytime soon. But that doesn't mean XRP can't post impressive gains in the coming years.
Ripple Partners With Axelar To Bring Interoperability to XRP Ledger Blockchain. Ripple and Axelar Partner to Boost Real-World Asset Tokenization on XRP Ledger.
Ripple Labs is a company that developed and maintains the XRP Ledger, another blockchain. XRP, its cryptocurrency, is designed to function more efficiently than existing payment systems.
However, an equally compelling development is the emerging trend of US banks adopting Ripple's XRP token for international payments. The adoption of Ripple's XRP by US banks is a pivotal development in the cryptocurrency landscape.
A centralized crypto exchange is similar to a traditional financial institution in which a centralized company acts as an intermediary between transaction participants. Leading centralized crypto exchanges that support XRP trading include Binance, Coinbase, Kraken and Bybit.
Introduction: My name is Stevie Stamm, I am a colorful, sparkling, splendid, vast, open, hilarious, tender person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
Qadir AK Follow on X Send an email January 25, 2024
