The largest American crypto currency company Coinbase has everything to integrate XRP, the digital currency of the Ripple network. This was stated by Ripple Labs CEO Brad Garlinghouse at the CB Insights Future of Fintech conference.
According to the head of Ripple Labs, which controls the same payment platform worth $ 18 billion, XRP solves the scaling problems for financial institutions and large banks, and Coinbase should be interested in this digital currency.
Garlinghouse stressed that XRP exists independently of Ripple. This means that even if the company disappears, its currency will continue to exist as a cryptoactive. In addition, XRP tokens are used to conduct transactions between institutions and individuals as a utility currency, unlike shares and other traditional securities.
"I do not think that our possession of XRP gives us control. Saudi Arabia owns a large amount of oil. This does not give them control over the oil, "Garlinghouse said.
As CCN notes, the analogy with Saudi Arabia and its control over oil is related to the consensus XRP algorithm. Unlike protocols like EOS that use Proof of Ownership (PoS) and give tokens more control over the network, XRP uses its own algorithm.
Earlier, the California Office of Business Supervision and the Securities and Exchange Commission (SEC) received a list of complaints against the company Coinbase, consisting of 134 pages.