XRP Poised for Boom as Uphold CEO Predicts Major Institutional Interest – Crypto News – Crypto News
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XRP Poised for Boom as Uphold CEO Predicts Major Institutional Interest XRP Poised for Boom as Uphold CEO Predicts Major Institutional Interest

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XRP Poised for Boom as Uphold CEO Predicts Major Institutional Interest – Crypto News

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2 years ago

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Alex Dovbnya

Uphold, a staunch supporter of XRP throughout the legal imbroglio, is now looking to capitalize on the verdict by expanding its offerings and serving a growing market of digital asset enthusiasts.

digital payment platform hold up Betting is big on Ripple’s XRP, as CEO JP Thieriot indicates, predicting significant institutional interest in the cryptocurrency.

Thériot underlined the significance of recent developments, specifically the resolution of Ripple’s high-profile legal battle with the SEC, which declared XRP as not a security.

With the lawsuit now mostly behind them, Ripple and its native cryptocurrency, XRP, are now set to experience major growth, capitalizing on a financial landscape that is increasingly gravitating toward digital assets.

Uphold, which has supported XRP throughout the legal disputessees this as an opportunity to expand its services and cater to the growing demand for digital assets.

Thieriot highlighted the transformative effect of this ruling for the XRP market and beyond. Uphold’s CEO believes that the clarity of XRP’s legal status will foster an atmosphere of growth and innovation. Specifically, Uphold’s Vault, a product for self-custody of digital assets, will serve XRP first, with other blockchains to follow in quick succession.

The potential for institutional involvement is also on the rise following the Ripple lawsuit verdict, as per Thieriot. Traditional financial institutions in Europe and the UKin particular, are showing interest in offering digital assets, with many turning to Uphold for white-label solutions.

This spells significant potential for XRP, which has already established a foothold in cross-border payments. With more traditional players exploring crypto offerings, the currency is poised for major growth, ushering in a new era of financial innovation and prosperity for the cryptocurrency market.

Comparing the current climate of blockchain technology and cryptocurrency adoption to the dotcom boom, Thieriot insists that like the internet, blockchain tech will take time to reach mainstream adoption.

He further highlighted blockchain’s utility in facilitating cost-effective, efficient cross-border transactions. Uphold is working on additional projects, including a non-custodial fiat on-and-off ramp called Topher, and collaborations with gaming companies to create a payments architecture for the conversion of in-game digital assets to non-fungible tokens (NFTs).

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