Versand Aljarrah, a well-known YouTuber and founder of Black Swan Capitalist, recently gave Ripple(XRP) a positive review. Aljarrah stated in a recent X post that XRP could be significant in light of the increased demand for cryptocurrencies that are price-linked to gold.
While there have been discussions about the adoption of XRP by international banks and other financial institutions for settlements on a global scale, there are suspicions that XRP may be backed by gold due to its real value.
He said Miles Franklin CEO Andy Schectman and Black Swan Capitalist financial analyst Vandell conducted extensive research on XRP and the broader cryptocurrency sector and concluded that XRP is the “key” to stablecoins backed by gold.
While XRP has made progress and acquired a significant amount of wealth from XRP, the possibility of refocusing to make XRP a stablecoin has sparked debate in the cryptocurrency community.
With XRP making waves, Ripple is looking to buy the New York Crypto Trust Company to expand its US options.
Ripple diversifies US crypto services
With a charter from New York, Standard Custody & Trust Co. will soon be the latest company to strengthen Ripple’s regulatory status.
The company said Tuesday that Ripple agrees to buy Standard Custody & Trust Co. as part of the continued expansion of U.S. regulatory approvals.
Despite the primary concentration of. Despite these obstacles, the international payments company is committed to improving its capabilities in the US market.
By obtaining the target company’s limited-purpose trust charter in New York, XRP will be able to provide more internal services, especially for financial institutions interested in asset tokenization.
In addition to its well-known payment network, Ripple wants to use blockchain technology to expand into other financial products and provide more value to its institutional customers.
The agreement with Standard Custody & Trust expands Ripple’s stability by bringing in a cryptocurrency custody and settlement company.
Ripple has declined to disclose details of the deal, which is still pending approval by the New York Department of Financial Services. Customers would be able to retain custody with Ripple instead of having to go to an outside partner as a result.
