- Ripple CEO Brad Garlinghouse highlighted XRP’s rising role in global payments due to its three-second transaction speed.
- He noted that XRP removes the need for pre-funded accounts and third parties, cutting costs and improving efficiency.
Ripple’s CEO, Brad Garlinghouse, has reignited interest in XRP by spotlighting its growing relevance in the world of cross-border payments. As global demand increases for faster and more cost-effective financial solutions, Garlinghouse insists XRP is at the forefront—leaving both Bitcoin and traditional systems like SWIFT trailing behind.
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Ripple XRP’s Speed and Efficiency Lead the Way
Garlinghouse underlined the critical advantage of XRP’s processing speed, noting that transactions take just three seconds. This positions XRP as an ideal tool for real-time international money transfers. In comparison, Bitcoin transactions are slower and less suited for the demands of modern banking, especially when speed is essential.
The XRP-powered system also addresses a major pain point in legacy systems: the need for pre-funded accounts. Under traditional networks like SWIFT, banks are required to hold reserves in multiple countries to facilitate cross-border transactions. This practice ties up vast sums of money and increases operational complexity.
Ripple’s solution eliminates the need for these accounts by enabling real-time liquidity. “Banks can now access funds instantly without parking money abroad,” said Garlinghouse. This shift not only improves efficiency but also significantly reduces costs by removing the reliance on third-party intermediaries.
A Better Alternative for Institutions
XRP’s current use with major trading pairs such as the US dollar and British pound showcases its readiness for institutional adoption. With transactions completed in seconds—rather than hours or days as seen with SWIFT—Ripple’s technology offers banks a reliable and cost-saving alternative.
Moreover, many financial institutions have already begun to incorporate XRP into their liquidity strategies. The growing adoption reflects confidence in the asset’s ability to transform how money moves globally.
Garlinghouse’s remarks serve as a powerful endorsement of XRP’s capabilities, reinforcing Ripple’s mission to modernize financial infrastructure. As XRP continues to demonstrate superior speed and utility, it’s clear that Ripple is not just keeping pace—it’s setting the pace for the future of international payments.
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