Monica Long, President of Ripple, has reiterated her support for an XRP exchange-traded fund (ETF). She emphasized that only XRP and Bitcoin have received regulatory clarity in the United States. Given that XRP is among the top 10 cryptocurrencies by market capitalization and ranks in the top 5 for daily trading volume, she believes it is a logical choice for an ETF.

Alongside the increasing institutional adoption of digital assets, Monica highlighted that seasoned investors are entering the crypto market via Bitcoin ETFs and tokenized assets.

In an interview, Ripple CEO Brad Garlinghouse stated that a spot XRP ETF appears to be inevitable. He believes that granting approval for spot ETFs would be advantageous for investors who seek to diversify their portfolios. Garlinghouse also expressed confidence in the future success of Ethereum ETFs.

Moreover, Ripple is broadening its footprint in the stablecoin market, with a new release expected before the end of 2024.

“We are working on all the things you need to do in order to bring a product like this to market.” - Monica Long, President of Ripple

Recent estimates show that the stablecoin market could exceed a cumulative market capitalization of $3 trillion within the next five years. The increasing popularity of stablecoins is linked to their convenience in accessing US dollars and enabling cross-border transactions globally.

During the Money 20/20 Europe 2024 event in Amsterdam, Ripple’s Monica Long shared insights into the company’s latest initiatives. Monica highlighted the growing interest among market participants in real-world asset (RWA) tokenization and introduced Ripple’s new venture into the stablecoin market.

Ripple is currently exploring the possibility of tokenizing RWA on the XRP Ledger (XRPL) through collaborations. One of their collaborations includes a partnership with Zoniqx, a pioneer in digital asset management, for tokenization services on XRPL.

The advancement of Ripple is also reinforced by its strategic partnerships. Most recently, Ripple joined forces with Clear Junction, a worldwide payments provider, to improve the processing of GBP and EUR payments for their clients.