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Cassie Craddock, Ripple Executive and Managing Director, U.K., has revealed that the firm is set to leverage recent collaborations between the U.S. and the U.K. In a post on X, Craddock noted that the recent shift in partnership between both countries has laid a solid foundation for the crypto market.
Ripple positioned to influence digital finance standards
Notably, a U.K.-U.S. Transatlantic crypto taskforce for the future will be set up, comprising government officials and leaders from both the financial and crypto industries. According to Craddock, the event has laid the groundwork that will strengthen cooperation between the nations. The primary focus will be on finance and digital assets.
Some key sectors that the taskforce will address include stablecoins, tokenization, cross-border market access and international coordination. The goal is to make it easier for companies and investors in the two countries to operate seamlessly across the two markets.
It could also set an acceptable standard that other countries might follow once the task force is up and running. Already, Ripple has gained a major foothold in the African market.
Craddock maintains that given Ripple’s strategic positioning as a U.S.-based company with a strong U.K. presence, it is poised to contribute to the task force initiative. She believes that Ripple could become a key player in shaping the future of transatlantic digital finance.
This might create a huge opportunity for XRP and Ripple USD stablecoin (RLUSD). Ripple could leverage this to secure a partnership with financial institutions like banks and asset managers and capture a significant share of the market.
Its RLUSD in particular could gain traction in cross-border transactions, supporting its quest to be among the top leaders in the stablecoin sector.
Regulatory compliance and market impact on XRP
Meanwhile, the task force’s emphasis is also on regulatory compliance. Ripple could offer its zero-knowledge proofs (zkPs) for privacy and know-your-customer (KYC). Such a development could serve as a boost to attracting traditional institutions.
Overall, Ripple could become a notable leader in institutional DeFi and cross-border finance transactions. All of these might positively impact its assets like RLUSD utility and XRP as well.
On the broader crypto market, XRP has lost over 8.4% of its gains in the last 30 days. The asset has been stagnating below $3, and every climb above that critical level has not been sustained. As of press time, XRP changes hands at $2.74, representing a 3.56% decline in the last 24 hours.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team