Ripple Plans Multiple XRP Ledger Upgrades to Compete with Ethereum
Ripple Plans Multiple XRP Ledger Upgrades to Compete with Ethereum

Ripple Plans Multiple XRP Ledger Upgrades to Compete with Ethereum

News summary

Ripple is advancing a series of upgrades to the XRP Ledger, including adding smart contract functionality and enhancing interoperability, aiming to rival Ethereum's dominance in decentralized applications and financial transactions. The company has made significant acquisitions, such as Hidden Road and Metaco, to bridge traditional finance with blockchain technology and expand its institutional reach. Ripple faces challenges in utilizing the XRP Ledger’s decentralized exchange due to regulatory constraints, prompting proposals like permissioned domains to maintain compliance while enabling broader participation. Institutional investors like Bitwise Asset Management recognize XRP's potential in real-world asset tokenization, highlighting its scalability, compliance features, and adoption in markets such as Latin America. Ripple also recently selected BNY Mellon as the custodian for its new U.S. dollar-pegged stablecoin reserves, signaling further integration with traditional financial infrastructure. These strategic moves underscore Ripple's commitment to expanding XRP's utility both within and beyond the cryptocurrency ecosystem.

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