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Ripple plans to launch the XRPL EVM side chain in 2025.At the same time, the US dollar stable coin launched is also in the internal test stage.
The launch of the side chain is to build the ecology of the Ripple.This project, which was established in 2012, has to do the ecosystem for the end of the payment. However, in terms of ecology on the chain, unlike the traditional currency circle public chain, Ripple will roughly focus on RWA.
XRPL is a public chain made by Ripple. The project was launched in 2012. At present, its total TVL value is nearly 15 million US dollars, ranking 78 among all public chains.In recent years, although Ripple has been in the top ten market value, it has no longer have much influence in the industry.In recent years, the major events that have attracted the attention of the industry have been sued by the SEC.In July 2023, the case ended, and its token XRP was not identified as securities.
According to its official planning, Ripple currently has three major business blocks: payment, stabilization, and hosting.This is actually a very suitable business positioning of traditional finance, and it is also a main line for the compliant development of the encrypted industry in recent years.
How do these businesses of Ripple do?What is Ripple itself to make money, it is really just what the outside world says to sell coins?
If you do n’t make money, you can only make money by selling coins
The vision of Ripple at the beginning of 2012 was to become the “middle bridge currency in the middle bridge“,,To build a global payment network that is more convenient and cheaper, its main cooperation is the traditional financial institutions of various countries.
At the time of the most popular, in 2018, the market value of XRP approached around $ 150 billion, surpassing Ethereum again, and after the market value ranked Bitcoin.
Ripple’s predecessor was RipplePay, a payment company established in 2004. Its goal is to build a point -to -point payment network that can replace the bank’s financial system. In the original product system of Ripple, there are three major products. XCURRENT and ODL cross -border payment platformsAnd XVIA.XCurrent is a flagship product of Ripple, mainly providing cross -border transactions to banks and banks, but the service does not use XRP. The only product that can be used for XRP is OLD.For the bank’s bank, the bank converted the received XRP into the corresponding currency, and then paid to the corresponding receiver.In this scenario, XRP has become a medium for capital conversion, but banks do not like this product. If the price of XRP fluctuates large, it will cause exchange loss.XVIA uses the standardized API interface of the Ripple network service. Users can directly use the above two functions through this interface. It is called the last stage of the Ripple product ecosystem.
Marcus Treacher, senior vice president of Ripple, said in an interview that in Ripple’s customer base, half of them are banks and the other half is financial technology payment providers.25%of the banks are real banks, such as Tokyo Bank, Mitsubishi Bank, Santande Bank and Standard Chartered Bank.The easiest to accept banking and payment companies is remittance.
But in fact, many well -known partnerships in Ripple failed.For example, Santander, one of the EU’s largest banks, is frozen after realizing that using XRP cannot meet the needs of its customers.Due to the increasing cost of cross -border XRP payment, Moneygram and Ripple also ended cooperation.
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Some partners listed on the Ripple official website
Ripple itself is basically institutional customers. Ripple has claimed thatThatIt has more than 200 customers from central banks and financial institutions from more than 40 countries.However, in general, in addition to the initially announced that the company will use XRP for cross -border services, there are few signs that the actual frequency of Ripple’s financial services is used.What is the profitability of Ripple itself?It did not disclose it.
Moreover, even if the payment business itself, it can’t make much money.The business that really earns money is to sell XRP tokens.The XRP itself is not worth it. With Ripple, it endorses it. XRP does not help Ripple’s business, and it is not even used at all.
XRP was issued in March 2013 and began trading in April 2014. The initial distribution was 100 billion.
At first, the 20%token was allocated to the founding team. In January 2018, the price of XRP soared by 50,000%was at its peak. At this timeWith a value of $ 8 billion, he became the first cryptocurrency wealthy to list the Hurun Rich List. Forbes believed that he was the richest person in the blockchain industry.
And more tokens are in the hands of Ripple.Reporting Ripple’s records in the past year will also find that every quarter, Ripple is selling XRP.
The XRP held by Ripple is divided into two parts, one of which is in its wallet, and the other is custody of the ledger.As of the end of March 2024, the total amount of these two parts was 45 billion, accounting for 45%of the total XRP distribution.
The total XRP directly held in the Ripple wallet on March 31, 2023 is 5,506,585,918, and on March 31, 2024
Total XRP directly held in Ripple wallets: 4,836,166,156.
Another type of XRP is placed in the XRP ledger custody. These locking XRPs will be released monthly in the future, and the release of this part will sell it to the enterprise.
On March 31, 2023, the total XRP of the ledger custody: 42,800,000,013
On March 31, 2024, the total XRP of the ledger custody: 40,100,000,000005.
At present, in a year, Ripple has sold nearly 3.4 billion XRPs, accounting for 3.4%of the total amount of XRP issuance. Based on the price of $ 0.5, one year, it sold XRP $ 1.7 billion.
The payment is unsuccessful, but the money selling can make Ripple earn a lot.
Ripple, the taste of traditional finance is very heavy
Although XRP is basically useless in the Ripple ecosystem, in the past two years, Ripple is indeed actively exploring the development of the XRPL ecosystem.
In 2024, Ripple began to test the BETA test on the XRP Ledger (XRPL) and Ethereum Main Network on the Ripple USD (Rlusd). It is reported that Ripple USD will be supported by 100% of US dollars, short -term US government Treasury bonds and other cash equivalents.These reserve assets will be audited by third -party accounting firms.David Schwartz, chief technical officer of Ripple, said that the upcoming stablecoin RLUSD was originally only open to the institution.
Not only that, Ripple is also expanding the programming of the XRP ledger, introducing native smart contract functions on the XRP ledger main network (currently in the research stage), and the XRPL EVM side chain will soon be launched. After the network is completed, Ripple will Defi will be defii.And RWA introduced the Ripple ecology.
ARCHAX, a digital asset exchange, broker and custodian supervised by the British Financial Behavior Regulatory Administration, announced that it will introduce hundreds of millions of dollars to the XRPL in the next year.
DEFI, RWA is the two major starting points of the traditional financial layout web3. There is no indispensable. After the real assets are on the chain, various pledge, lending, etc. are performed on the blockchain.
Stable coins are indeed a very stable and money -making business in the industry. Teda’s income in 2023 surpasses Berlaide.At present, more and more institutions are in the business of stable coins in the entry. Ripple this time to release its own stablecoin on the XRPL chain, it is only in line with this trend.
Ripple is not an institution with innovation and leading the industry in the blockchain industry, and it can live well by selling XRP.At present, the EVM -side chain is still a stablecoin. In fact, compared with the coin circle, it is a lot late.On the contrary, it is consistent with the rhythm of traditional financial institutions. Ripple is indeed steadily fighting in development projects, but it is very slow and late.According to its external disclosure, it only added AMM functions to DEX this year.
From the direction and speed of these layouts, it can be clearly seen that Ripple does not intend to do what the original currency circle is doing.In terms of traditional finance, the objects of their services are mainly corporate customers. In addition to stable currency, payment, and custody business, this is also important for its next development.The business is mainly to provide encrypted custody services for traditional banks.
The METACO platform acquired by Ripple in 2023 is specifically for custody business. This year, BCB migrated its custody business to the Metaco platform.At present, DZ BANK’s encryption custody business, one of the largest banks in Germany, also uses RIPPLE services.For Ripple, the acquisition of Metaco is exactly that many traditional banks will launch an encrypted business. Ripple fits the future development potential of the institutional cryptocurrency custody industry.
This year, Ripple also acquired the cryptocurrency trust company Standard Custody & amp; Trust, Standard Custody & amp; Trust, as an American cryptocurrency trust company, it will provide Ripple with more asset custody and settlement services.
Another significance of this incident is that although Ripple will be regarded as the primary task for the long -term expansion of overseas markets due to the storm of litigation with the American SEC.After considering the IPO to market outside the United States, more than 90%of Ripple’s business is outside the United States.However, last year and the SEC’s lawsuit finally had a final, and after XRP was not identified as securities, Ripple once again turned its attention back to the US market.This acquisition may indicate that Ripple will still be vigorously above the US market.
Standard Custody & amp; Trust Co., a license in New York, will allow Ripple to provide financial companies with more diversified services such as asset currency, cryptocurrency custody and settlement, so that the scope of business covered by Ripple is no longer only at the payment.network.It is reported that Ripple is still seeking remittance permits in the United States.
Ripple can be seen in these key layouts of this year. It is still the business of traditional finance to Web3. This is more stable and compliant with the traditional currency circle gameplay.Ten years ago, Ripple did this.But at present, this has become the general trend of the industry. Perhaps Ripple is wise this time, but the XRP tokens itself. In the development direction of Ripple, there is almost no effect.
