Ripple Touts Crypto Utility as Major Driver For 2023
, 2023-01-11 01:14:00,
San Francisco-based fintech firm Ripple is confident that crypto and XRP adoption will continue to grow in 2023.
On Jan. 10, Ripple published a company blog highlighting its industry insights for the coming year. As the dust settles from last year’s contagions, it predicts that there will be a focus on real-world crypto utility this year.
Ripple SVP of Engineering Devraj Varadhan predicted a general shift in the marketplace. Things will move from highly speculative companies to companies that harness crypto solutions to solve real-world problems.
“From Non-Fungible Tokens (NFTs) to Central Bank Digital Currencies (CBDCs) to sustainability, most of the expectations for crypto this coming year involve its application for real-world utility.”
Ripple Confident For 2023
The focus on real-world applications will help propel the new era of CBDCs, said Sendi Young, Managing Director of Europe.
More CBDC pilot programs around the world are expected this year. Furthermore, they will have an “emphasis on interoperable CBDC solutions that enhance cross-border payments,” according to James Wallis, VP of Central Bank Engagements.
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