David Schwartz, Ripple’s Chief Technology Officer (CTO) and co-founder of the XRP Ledger has announced his participation at Consensus2024, an event organized by CoinDesk. Schwartz invites the community to join him as he discusses Ripple’s key new directions.

Notably, the major point of discussion during Consensus2024 will be based on institutional DeFi, including multichain interoperability, EVM programmability, and RWA tokenization. These topics highlight Ripple’s broader focus on enhancing the capabilities of the XRP Ledger and expanding its utility beyond its current offerings.

Ripple CTO Reveals Key Product

Schwartz teased that during his speech, he will unveil Ripple’s vision and roadmap for institutional DeFi on the XRP Ledger alongside Phil Kwok, co-founder of the EasyA app. This significant development signals Ripple’s strategic move towards bringing decentralized finance innovations to traditional finance, potentially transforming the financial landscape.

Significance of Institutional DeFi

In simple terms, “Institutional DeFi” is the next generation of decentralized finance for financial institutions. It combines traditional finance’s stability and regulatory compliance with blockchain’s efficiency and transparency. J.P. Morgan’s analysis of its bigger potential highlights how important it is for the financial industry.

Clarification on Crypto Holdings

In addition to discussing Ripple’s plans for institutional DeFi, Schwartz clarified his crypto holdings, disclosing that he held approximately 26 million XRP at his peak. He emphasized his commitment to XRP, stating that he has never sold any XRP to buy other cryptocurrencies.

Amelie, a prominent figure in the crypto community, shares her views on X, expressing excitement about Schwartz’s upcoming discussion at Consensus2024. She believes Ripple’s foray into institutional DeFi could be a game-changer for the crypto industry, offering new opportunities for innovation and growth. 

The crypto community is ready to welcome the new opportunities that Institutional DeFi might bring to the table as Ripple continues to push beyond the boundaries of blockchain technology.

The XRP Community is excited with the news, will this be a turning point for Ripple in the Defi market? Agree?

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