Swedish asset manager Virtune has praised XRP, highlighting a key feature of the crypto token. The praise comes after the company launched its listed product (ETP)allowing investors to gain exposure to XRP.
XRP is “ideal” for international transfers
In a press release When announcing the launch of its Virtune XRP ETP, the asset manager noted that XRP is ideal for international transfers as transactions using the crypto token are completed in seconds. Virtune further noted how XRP offers “unparalleled transparency and reliability” thanks to its “robust and secure blockchain technology.”
The asset manager also claimed that XRP’s low transaction fees are a “significant advantage, especially for large transfers.” Additionally, Virtune stated that XRP is backed by a “strong community and is supported by Ripplea leading company in the fintech industry.”
Virtune’s praise for XRP reiterates how XRP has earned a reputation as the future of cross-border payments. With XRP, Ripple is disrupting the global financial system and establishing itself as a viable alternative for making international transfers through its Ripple payments service.
Interesting enough, Ripple’s CEO Brad Garlinghouse once named that XRP could become the next Bitcoin if the crypto token becomes widely accepted for cross-border payments. He suggested that this could generate trillions of dollars for XRP, which would undoubtedly increase its value significantly.
XRP’s utility as a crypto token for cross-border payments is also a reason why individuals like pro-XRP Wall Street financial analyst Linda Jones are betting on its potential. She once said suggested that XRP could surpass Bitcoin and become the face of the crypto market. He even compared XRP to Apple and Microsoft stocks and stated that it could be the next big breakout in the financial market.
Virtune Launches First XRP ETP on Nasdaq
Virtune’s XRP ETF has launched on Nasdaq Stockholm and will provide institutional investors with an opportunity to gain exposure to XRP. Christopher Kock, CEO of Virtune, revealed that this will be the first XRP ETP to be listed on Nasdaq. He also mentioned that the investment product is 100% physically backed by XRP, which is stored by crypto exchange Coinbasethe custodian of the company.
It is worth mentioning that a XRP ETF remains a possibility in the United States, especially after VanEck and 21 Shares filed for a Spot Solana ETFThe approval of these funds will likely lead to more applications for crypto ETFs, with a Spot XRP ETF potentially being next in line after the Spot Solana ETFS.
Garlinghouse is also confident that a Spot XRP ETF will be launched sooner or later. He named during the Consensus 2024 conference that Spot XRP, Cardano and Solana ETFs are “inevitable.” He also previously stated that XRP has already gained popularity regularity claritywhich is another reason why he believes a Spot XRP ETF will be launched at some point.
At the time of writing, XRP is trading at around $0.47, up over the past 24 hours, according to facts from CoinMarketCap.
Main image created with Dall.E, chart from Tradingview.com