David Schwartz, Ripple’s Chief Technology Officer (CTO), explained why they cannot be long XRP but they can be very bullish about Bitcoin (BTC) in cryptocurrencies. During the last years, Ripple has been doing everything as possible to reduce its links with the XRP cryptocurrency.
Schwartz stated that due to the global regulatory uncertainty that there is about XRP and other cryptocurrencies, they cannot say they are bullish about the future of XRP. However, they are able to comment positively about Bitcoin – the largest digital currency in the world.
The CTO went on saying that they cannot comment on their XRP holdings or what they do with the currency because the current regulatory environment makes it difficult for them.
Ripple has been working in the last years trying to offer solutions to companies and firms all over the world to make transfers in a fast and easy way. There are several firms that are already using both Ripple’s products such as the RippleNet and the XRP digital asset as well.
XRP can be used to make cross border transfers faster and reducing the fees involved in these transactions. Moreover, it can provide liquidity to fiat corridors that were not connected in the past or were illiquid. In the future, a larger number of companies could start working with XRP and using Ripple’s services.