Dan Morehead, founder and CEO of Pantera Capital, told CNBC that Ripple is targeting the cross-border payments market long dominated by SWIFT, reviving a comparison that has trailed XRP for years without being tested at institutional scale. Ripple has reported cumulative processed volume exceeding $100 billion across more than 60 markets, but has not disclosed what share actually settled in XRP versus stablecoins or fiat rails. The platform supports multiple settlement options including RLUSD, USDC, USDT or fiat currencies, with no exclusivity for the XRP token. In 2023, Ripple secured a partial victory when a federal judge ruled that XRP was not a security when sold to retail investors on public exchanges. Morehead’s remarks provide institutional validation of Ripple’s strategy, but the gap between enterprise network growth and actual token usage remains undisclosed.
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