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Former US Treasurer Clarifies Her Statement About XRP

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Tue, 09/28/2021 - 06:44
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Alex Dovbnya
Rosie Rios clarified her comments after receiving pushback from the cryptocurrency community
Former US Treasurer Clarifies Her Statement About XRP
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U.S. Treasurer Rosie Rios has taken to Twitter to clarify her recent statement about XRP. She claims developers around the globe are working on a slew of other cases for multiple blockchains and cryptocurrencies while Ripple focuses on cross-border payments.  

As reported by U.Today, Rios, who joined Ripple’s Board of Directors in May, raised some eyebrows after tweeting that XRP was the only cryptocurrency with utility while other coins were used exclusively for speculation.

XRP Ledger developer Nik Bougalis called out the high-profile board member for mentioning that XRP’s primary purpose is facilitating cross-border payments.

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Ripple CTO David Schwartz said that he wasn’t “quite sure” about how to feel about the endorsement in response to Bougalis’s rebuke.

XRP Ledger developers are exploring other use cases such as smart contracts, non-fungible tokens (NFTs), and central bank digital currencies (CBDC). 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.