Swedish asset manager Virtune has praised XRP, highlighting a major feature of the crypto token. The praise comes after the company launched its exchange traded product (ETP)which will allow investors to gain exposure to XRP.
XRP is ‘ideal’ for international transfers
In a Press release Announcing the launch of its Virtune XRP ETP, the asset manager mentioned that XRP is ideal for international transfers as transactions using the crypto token are completed in seconds. Virtune also highlighted how XRP offers “unmatched transparency and reliability” thanks to its “robust and secure blockchain technology.”
The asset manager also claimed that Low transaction fees for XRP constitute a “significant advantage, particularly for high-volume transfers.” Additionally, Virtune said that XRP is backed by a “strong community and is supported by Ripplea leading company in the financial technology sector.
Virtune’s praise for XRP once again underscores XRP’s reputation as the future of cross-border payments. With XRP, Ripple is disrupting the global financial system and establishing itself as a viable alternative for making international transfers through its Ripple Payments service.
Interesting way, Brad Garlinghouse, CEO of Ripple once mentioned According to him, XRP could become the next Bitcoin if the crypto token becomes widely accepted for cross-border payments. He suggested that this could bring trillions of dollars to XRP, which would undoubtedly lead to a significant increase in its value.
XRP’s utility as a crypto token for cross-border payments is also one reason why individuals like pro-XRP Wall Street financial analyst Linda Jones are betting on its potential. She has already suggested that XRP could usurp Bitcoin to become the face of the cryptocurrency market and even compared it to Apple and Microsoft stocks, saying it could be the next big thing in the financial market.
Virtune Launches First XRP ETP on Nasdaq
Virtune’s XRP ETF has launched on Nasdaq Stockholm and will offer institutional investors a way to gain exposure to XRP. Virtune CEO Christopher Kock revealed that this will be the first XRP ETP to be listed on Nasdaq. He also mentioned that the investment product is 100% physically backed by XRP, which is stored by Coinbase crypto exchangethe company’s custodian.
It is worth mentioning that a XRP Exchange Traded Fund remains a possibility in the United States, particularly following the request from VanEck and 21 Shares for a ETF Spot SolanaThe approval of these funds will likely lead to more applications for crypto ETFs, with an XRP Spot ETF potentially following after the Solana Spot ETFs.
Garlinghouse is also confident that an XRP Spot ETF will be launched sooner or later. mentioned at Consensus 2024 conference, Spot XRP, Cardano and Solana ETFs are “inevitable.” He also previously said that XRP has already gained regularity claritywhich is another reason why he believes an XRP Spot ETF will launch at some point.
At the time of writing, XRP is trading at around $0.47, up over the past 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart by Tradingview.com