RIPPLE Managing Director Danny Aranda revealed the cryptocurrency is plotting a worldwide cross-border takeover in a bid to stand out from its rival digital currencies and make worldwide payments easier for “real customers with real problems”
In an exclusive interview with Express.co.uk, Ripple's Danny Aranda said the digital currency is planning a cross-border takeover to make global payment transfers quicker.
Mr Aranda said Ripple wants to ensure it is producing “very viable” solutions that can be used in the digital landscape.
He said: “I think a lot of what you see in the cryptocurrency space and in the blockchain space is really focussed on experiments or small proof of concepts.
“But Ripple is really determined to make sure that we are focussed on serving real customers with real problems and our focus area is around cross-border payments and ensuring that we deploy cryptocurrencies as a better method to fund the liquidity for the cross-border flows which is a huge cost centre and a huge problem to that.”
Mr Aranda said Ripple aims to improve the financial services infrastructure by making cross-border payments easier across the globe.
He added: “If I want to send money around the world – if my mother lives in the US and I’m living in Europe – that could take two to four days.
“It is actually faster for me to just fly over to her and give it in cash or FedEx it over than it is to send an electronic wire, which is incredibly crazy given the infrastructure we have today.”
Mr Aranda also said small movements can really affect the price of cryptocurrencies like Ripple and bitcoin.
He said: “It’s a relatively small market. There were $20billion traded in and out of cryptocurrencies overall.
Ripple is determined to make sure that we are focussed on serving real customers with real problems
Danny Aranda