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Ripple CEO Brad Garlinghouse believes leading banks will offer, hold and trade crypto by next year.

The Managing Director of Ripple in South Asia has confirmed the plan to introduce native crypto XRP into the Indian market fo
The Managing Director of Ripple in South Asia has confirmed the plan to introduce native crypto XRP into the Indian market for transaction purposes.

Ripple’s CEO believes that in the coming year, the world’s leading banks will start to offer, hold, and trade cryptocurrencies. He said that half of the top 20 biggest banks in the world will actively hold and trade digital assets in 2020.

“Adoption of digital assets among mobile wallets will increase.”

According to the Ripple SVP of Product Asheesh Birla, the adoption of digital assets and blockchain technology among mobile wallets and super-apps like Grab and PayPal will become more mainstream. These companies will look to expand their services to keep up with customer demand and compete with digital banks, he added. According to Asheesh, the adoption will continue expanding to include new credit and loan products.

“The world does not need 2000+ digital assets.”

Brad Garlinghouse said, “The world doesn’t need 2000+ digital assets. While I don’t think there will be one coin to rule them all, it’s clear that if an asset doesn’t have a proven use case beyond speculation, it is not going to survive.” As reported earlier, so far, MoneyGram has processed over $100 million through XRP, and the financial giant is hoping to expand the use of Ripple’s XRP for cross-border transactions to new corridors as well.

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