Amid a scenario where cryptocurrencies are gaining more and more prominence, an audacious prediction about XRP has attracted attention in the financial world. Kyren, a former banker and now finance expert, shared his views on the disruptive potential of XRP in the payments industry.
Kyren, who has spent four years in the banking industry, is no newcomer when it comes to expressing his views on cryptocurrencies. Since leaving the banking world, he has been an active voice on X, the platform formerly known as Twitter, advocating the potential of crypto.
In his recent publication, Kyren spared no criticism of the traditional banking system, pointing out its flaws, such as slow transaction processes and exorbitant fees. For him, XRP appears as a promising solution to these problems. He highlighted cryptocurrency’s ability to process transactions at high speed, with costs that can be as low as a fraction of a cent. Furthermore, he highlighted the transparency provided by blockchain technology.
Kyren was emphatic when he said: “The current banking system is notoriously slow and ineffective. International payments can take up to two days, with costs that, in some situations, reach up to US$50 or a significant percentage of the amount transacted.”
He continued, highlighting the advantages of XRP and XLM: “Now, with XRP and XLM, we have the ability to send any type of value around the world and receive it in a matter of seconds, all with minimal fees. ”
Kyren believes that XRP has the potential to make Payment Service Providers (PSPs) and Nostro accounts obsolete. He also sees cryptocurrency as a tool that can facilitate international payments, eliminating the need for intermediaries such as PayPal.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.