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CoinField CEO Suggests XRP Could Become A Reserve Currency

· in Breaking, Crypto News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Bob Ras, the CEO of the Canadian cryptocurrency exchange CoinField said that there are many different aspects that are involved in setting XRP as a global reserve currency. 

At the same time, during an interview with NewsLOGICAL, he mentioned that XRP has proven to be the fastest & cost-efficient blockchain network in the industry. 

CoinField CEO Talks About XRP As A Reserve Currency

One of the questions Ras had to answer was related to whether XRP could become a reserve currency. He said that he loves to think that this would happen soon, but it is also important to be realistic. 

On the matter, he said:

“I love to think that will happen soon, but we have to be realistic. There are many different aspects that are involved in setting XRP as global reserve currency like governments & banking system’s acceptance, regulations, and so on.”

He went on saying that he thinks XRP is on the right track to facilitate and modernize the traditional bank transfers with strategic partnerships and their developments. 

Furthermore, Bob Ras explained that the XRP Ledger is providing all the necessary tools to create a financial ecosystem for a modern era. 

Ripple is connecting banks and financial companies from all over the world to be able to make cross border transfers in just a few minutes compared to the several days it currently takes.

Moreover, he stated that Ripple and XRP will eventually end up revolutionizing the whole industry in the near future. 

At the same time, during the interview, Mr. Ras talked about Sologenic, the new solution created by the cryptocurrency exchange and that uses the Ripple Ledger to operate. 

UseTheBitcoin wrote a few weeks ago that CoinField unveiled the Sologenic cryptocurrency ecosystem. The main goal behind it is to facilitate the trading of on-demand tokenized assets such as stocks and ETFs. 

During the interview, Ras said that the XRP gets very excited with a crypto exchange using XRP as a base currency. 

Sologenic is more than that. 

Indeed, all the tokenized assets such as Stocks and ETFs are tradable only against XRP or SOLO. 

This is very important, considering that Sologenic is pairing 30,000 stocks and ETFs just with XRP and SOLO. 

“You can imagine what kind of significant volume it will bring daily when the project is live,” Ras mentioned. 

Currently, XRP is the third-largest cryptocurrency in the market with a valuation of $12.75 billion and a price per coin of $0.2948. 

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