Tuesday, July 16, 2024
Home Cryptocurrency Swedish Asset Manager Praises XRP for This Key Feature

Swedish Asset Manager Praises XRP for This Key Feature

by xyonent
0 comment
Xrp.webp.jpeg

Swedish asset management company Virtune The company praised XRP and highlighted the crypto token’s key features. The praise came after the company launched XRP. Exchange Traded Funds (ETPs)This allows investors to gain exposure to XRP.

XRP is “ideal” for international payments

in press release Announcing the launch of the Virtune XRP ETP, the asset manager said that XRP is ideal for international remittances, as transactions using the crypto token are completed within seconds. Virtune further noted that XRP offers “unparalleled transparency and trust” thanks to its “robust and secure blockchain technology.”

Asset managers also Low Trading Fees for XRP “This has significant advantages, especially for large volume transactions,” Virtune said. In addition, XRP is “supported by a strong community, RippleIt is a leading company in the fintech industry.”

Virtune’s praise for XRP once again highlights the cryptocurrency’s reputation as the future of cross-border payments. Ripple is using XRP to disrupt the global financial system, positioning itself as a viable alternative for making international remittances through its Ripple payments service.

Interestingly, Ripple CEO Brad Garlinghouse one time Mentioned He said XRP could become the next Bitcoin if the crypto token becomes widely accepted for cross-border payments, which he suggested would bring trillions of dollars in revenue to XRP and undoubtedly drive its value significantly.

XRP’s usefulness as a crypto token for international payments is part of the reason why people like Linda Jones, a Wall Street financial analyst and XRP advocate, are betting on its potential. She once said: was suggested He said XRP has overtaken Bitcoin to become the face of the cryptocurrency market and could become the next big thing in financial markets, likening it to shares in Apple or Microsoft.

Virtune Launches First XRP ETP on Nasdaq

Virtune’s XRP ETF will launch on Nasdaq Stockholm, providing a way for institutional investors to invest in XRP. Christopher Koch, CEO of Virtune, revealed that this will be the first XRP ETP to be listed on Nasdaq. He also stated that the investment product is 100% physically backed by XRP, which is stored at Nasdaq. Cryptocurrency exchange Coinbasethe company’s administrator.

It is worth mentioning that XRP ETF In the US, the possibility remains, particularly following the filings by VanEck and 21Shares. Spot Solana ETFThe approval of these funds will likely encourage more cryptocurrency ETF applications, with a spot Solana ETF likely to be followed by a spot XRP ETF.

Garlinghouse also believes a spot XRP ETF will launch sooner rather than later. Mentioned At the Consensus 2024 conference, he said a Spot XRP, Cardano, and Solana ETF is “inevitable.” He also said that XRP is already Regularity ClarityThis is another reason why he thinks a spot XRP ETF will launch one day.

At the time of writing, XRP is trading around $0.47 and has risen over the past 24 hours. data From CoinMarketCap.

Token Prices Reverse | Source: XRPUSDT on Tradingview.com

Featured image created by Dall.E, chart taken from Tradingview.com

You may also like

Leave a Comment

About Us

Investxyon

At InvestXyon, we empower individuals with knowledge for informed investing, financial navigation, and secure futures. Our trusted platform covers investments, stocks, personal finance, retirement, and more.

Feature Posts

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!