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Ripple CEO Breaks Silence on Company’s Historic Move: Details
In a recent statement, Ripple CEO Brad Garlinghouse has finally broken his silence on the company’s groundbreaking partnership with Hidden Road. The announcement, which sent shockwaves throughout the financial and crypto communities, marks a significant milestone for both parties.
As previously reported, Ripple’s RLUSD token will be listed on several major exchanges, solidifying its position as a prime player in the decentralized finance (DeFi) space. Additionally, Hidden Road has decided to migrate post-trade activity across XRP Ledger (XRPL), showcasing the potential of this technology as an institutional-grade solution.
According to Garlinghouse, “This is the capital and activity that will tap into XRP and the XRP Ledger’s bread-and-butter—instant, efficient, scalable, and low-cost movement of value.” He emphasized that instead of waiting for trades to settle through fiat rails, Hidden Road will be leveraging XRPL for clearing a portion of trades, which will enable RLUSD to become the first stablecoin capable of facilitating efficient cross-margining between digital assets and traditional markets.
This historic partnership marks a significant shift in the landscape of institutional DeFi. By integrating Ripple’s technology with its proprietary prime brokerage services, Hidden Road is poised to deliver unprecedented levels of scalability and efficiency to its clients. As Garlinghouse noted, this collaboration has the potential to revolutionize the way institutions interact with each other, leveraging the XRP Ledger for clearing a portion of trades.
As the details of this partnership continue to unfold, one thing is clear: Ripple’s RLUSD token has secured a major listing on several exchanges, and its role in shaping the future of DeFi has been solidified.
Source: https://u.today/ripple-ceo-breaks-silence-on-companys-historic-move-details
