Meeting-up with International Monetary Fund – Christine Lagarde, Chris Larsen co-founder of Ripple [the firm behind the third largest coin XRP and famous for working on simplifying and making cross-border transactions more efficient] together with almost 20 other leading individuals in the world of finance are discussing the best and latest technological solutions for financial services.
Despite that more information has to be released regarding the meeting, it is well known that the IMF has approached blockchain and crypto-startups with a positive attitude as during the Paris Fintech Forum two months ago, Christine Lagarde noted out towards banks that for the best of their users they should embrace the new emerging technology.
“I think in the banking system at large in many, many countries, the difference will not be between those who are disrupted and those who survive. The difference will be between those who are cannibalized because they’re not seeing it coming, and they’re not embracing it, and those who self-induce that cannibalization.
And I’m using cannibalization on purpose because it’s a bit of a striking, horrible word. But it’s really what it means. You’re going to disrupt your business model. You’re going to change it. You’re going to reduce your costs. You’re going to expedite your transactions, and you’re going to inspire confidence because you will build out on the basis of an existing backbone, which is your bank and the confidence, relationship you’ve established with your customers.
So that’s where I see changes happening now. If you think of Circle, and Ripple and all those – that’s where they are active and helpful.”
– XRP was listed on the regular Coinbase and the corresponding iOS and Android apps. The announcement comes only 3 days after XRP was listed on Coinbase Pro. The digital asset is now available for customers to buy, sell, convert, send, receive or store it in their Coinbase accounts.
Ripple, the parent company behind the XRP coin, has had to deal with several accusations that the company paid for the currency to be listed on the exchange. After nearly a year of being tied to rumors of a Coinbase addition, during which the XRP currency experienced a series of price dips and rallies in investor anticipation, the actual result of the listing has been lackluster.
Ripple’s Head of Markets Miguel Vias has heard the allegations against his company and responded promptly. In a twitter exchange with U.K.-based investor Alistair Milne, who promoted the accusation of Ripple paying for XRP on Coinbase, Vias responded that his company had nothing to do with the listing. Instead, Vias claimed that the addition of XRP was an independent decision by Coinbase.