Ripple Exec on What’s Next for Crypto: ‘Pain Behind Us Now’

Ripple executive Reece Merrick believes crypto’s days of pain are over. The senior executive officer and managing director of Ripple in Middle East and Africa was speaking in the context of the current favorable regulatory climate.

In the most recent positive development shared by crypto reporter Eleanor Terrett on X, the Federal Reserve has withdrawn its 2023 guidance that effectively blocked uninsured banks from becoming Fed members and engaging in crypto. This guidance underpinned the Fed’s denial of Custodia Bank’s master account.

Merrick applauded this move, adding in response to an observation by an XRP community member regarding the current positive regulatory outlook that the pain is in the rearview now.

“The pain is behind us now and the future is looking good,” Merrick added.

Ripple welcomes major advancements

SBI Ripple Asia and Doppler Finance have revealed a decision to explore collaboration in XRP-based yield infrastructure and real-world asset (RWA) tokenization on the XRP Ledger, advancing institutional-grade finance on XRPL.

Nasdaq-listed VivoPower is expanding its XRP-linked strategy through a new joint venture that aims to buy hundreds of millions of dollars worth of Ripple Labs shares, giving investors indirect exposure to nearly $1 billion worth of underlying XRP.

Vivo Power’s digital asset unit, Vivo Federation, has been engaged by South Korea–based asset manager Lean Ventures to source an initial $300 million of Ripple Labs equity.

RLUSD stablecoin turns one

Ripple USD (RLUSD) stablecoin is celebrating one year of its launch. According to Jack McDonald, Ripple’s SVP of stablecoins, RLUSD, has gone from virtually zero to a top five USD stablecoin in about a year, highlighting some of the key milestones reached.

Ripple CEO Brad Garlinghouse recalled a prediction he made that RLUSD would be a top five USD stablecoin by the end of the year, pointing to the massive growth recorded by the Ripple stablecoin.