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<ul>
 <li>Ripple’s Monica Long advocates crypto for swift global commerce in a NYT feature.</li>
 <li>Cryptos like XRP gain prominence in developing economies, outpacing TradFi systems.</li>
 <li>Ripple Labs releases CBDC whitepaper as U.S. Federal Reserve explores digital currency.</li>
</ul>
<p>Ripple President, Monica Long, emphasizes the urgency for rapid global trade, citing the sluggishness of traditional financial systems. In a <a href="https://www.nytimes.com/2023/12/09/special-series/global-consumer-patterns-2024.html" target="_blank" rel="noopener noreferrer nofollow">featured segment</a> by The New York Times on global consumer behavior in 2024, Long contends that cryptos like XRP are pivotal in addressing this lag, propelling the world into a more interconnected and swift future.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4bc.png" alt="💼" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a>'s President, Monica Long, highlights the need for speed in global commerce. Traditional financial systems have lagged, while cryptocurrencies like <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> excel at bridging this gap, propelling us into a faster, more connected world! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b1.png" alt="💱" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cryptocurrency</a> <a href="https://t.co/TQuNnLVIzS" rel="noopener noreferrer nofollow">pic.twitter.com/TQuNnLVIzS</a></p>— Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1736411887623974952?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 17, 2023</a>
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<p>As per Long, traditional financial structures, often termed TradFi, are struggling to keep pace with the current speed of global commercial expansion. Cryptos, particularly Bitcoin (BTC) and <a href="https://cryptonewsland.com/xrps-resurgence-top-analysts-insight-sparks-hope/" target="_blank" rel="noopener noreferrer nofollow">XRP, are gaining popularity</a> in developing economies due to macroeconomic instability and weak inflation controls.</p>
<p>The <a href="https://www.imf.org/en/Home" target="_blank" rel="noopener noreferrer nofollow">International Monetary Fund</a> (IMF) and the Financial Stability Board have acknowledged the “cryptoization” of these developing economies, where people are turning to cryptos as a preferred alternative to local currencies.</p>
<p>Highlighting the preference for stability, Long notes the rising adoption of stablecoins in countries like Argentina, Zimbabwe, and Nigeria. These stablecoins, often pegged to the U.S. dollar, offer a more reliable store of value and a medium of exchange amidst the volatility of local currencies.</p>
<p>In parallel, Ripple Labs, under Long’s leadership, has released a whitepaper on <a href="https://cryptonewsland.com/ripple-labs-steps-into-georgias-innovative-cbdc-pilot/" target="_blank" rel="noopener noreferrer nofollow">central bank digital currencies (CBDCs</a>). The paper outlines how CBDCs can enhance transparency and market efficiency for sovereign currencies, potentially circulating $5 trillion globally over the next decade.</p>
<p>As regulatory uncertainties persist, Ripple’s focus on CBDCs aligns with its commitment to establish clear standards and rules within the crypto space. Meanwhile, the U.S. Federal Reserve is also exploring the concept of a CBDC to enhance payment options, liquidity, and cross-border transactions.</p>
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<p>The post <a href="https://cryptonewsland.com/ripples-monica-long-advocates-crypto-for-swift-global-commerce/" rel="noopener noreferrer nofollow">Ripple’s Monica Long Advocates Crypto for Swift Global Commerce</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple’s Monica Long Advocates Crypto for Swift Global Commerce

Crypto News Land

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