Ripple CTO David Schwartz stated that the company will enter the DeFi area.
In an interview with BlockDown TV, David Schwartz, CTO of Ripple, a blockchain-based payment company, announced the plans that the company aims to realize over the next 5 years. It is known that XRP, the fourth largest cryptocurrency by the total market value, has lost blood for almost two years.
One reason for this drop in XRP price is the stagnation of Ripple’s business model. Ripple is pushing the price both due to the stagnation in the business model and the occasional loaded XRP sales. A step in the 5-year plan stated by Ripple manager David Schwartz can change everything for XRP.
Schwartz stated that Ripple will soon enter the DeFi, decentralized finance sector. Stating that they will go for XRP based lending or financing in the Ripple network in the DeFi sector, the senior manager thinks that this will change RippleNet.
Ripple May Bring Uptrend to XRP
The DeFi industry was booming in 2020, and Ripple’s plan is to support it with its own business models. Aiming to implement the blockchain-based lending or receiving method for cross-border transactions, Ripple may have found an absolutely important method.
If Ripple can motivate more than 300 corporate members in its network in line with this plan and use XRP on the platform, it can be said that this time XRP may be one of the cryptocurrencies that eat the bread of the DeFi industry.