Grayscale Announces XRP Trust Offering Investors Exposure to a Protocol with Practical Applications

Leading crypto asset manager Grayscale Investments highlights a major benefit of its recently launched XRP Trust.
Recall that Grayscale re-launched the XRP Trust earlier this month, allowing only accredited investors to gain direct exposure to XRP. Since its inception, Grayscale has been highlighting numerous benefits of the product, including detailing a four-phase growth cycle that could eventually transform the product into a spot-based crypto ETF.
– Advertisement –
XRP’s Real-World Use Case
In a recent statement, Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, stated that the XRP Trust would give accredited investors direct exposure to a protocol that has a significant real-world use case.
– Advertisement –
According to Sharif-Askary, XRP can transform the global financial infrastructure by facilitating cross-border payments that are completed in seconds.
Although Sharif-Ashkary made this
known
immediately after Grayscale launched the XRP Trust, the asset manager recently brought the public’s notice to the statement in a tweet.
XRP Use in Cross-Border Payments
XRP has demonstrated its prowess in facilitating cheap, faster, and efficient cross-border settlements. Prominent San Francisco-based company Ripple has been leveraging the token to facilitate real-time settlements between nations.
– Advertisement –
Notably, XRP is at the core of Ripple’s payment ecosystem. In particular, Ripple’s On-Demand Liquidity (ODL) product (now Ripple Payments) uses XRP for faster and low-cost transnational settlements.
Through this solution, Ripple successfully reduced the settlement period for cross-border payments to mere seconds from the usual three business days obtainable within the traditional financial sector.
Ripple’s ODL also eliminates the need for pre-funding, making the product suitable for instant cross-border settlements. Interestingly, several financial institutions have also adopted the XRP-powered payments solution.
For instance, Malaysian payment company Tranglo incorporated Ripple’s ODL into all its payment routes in 2022. A year later, the company
disclosed
that it had processed over $1 billion worth of transactions using ODL, underscoring the product’s relevance in cross-border settlements.
XRP Trust NAV Soars 0.77% in 24 Hours
With Grayscale’s XRP Trust, accredited investors will now gain exposure to XRP, which has continuously demonstrated its significance in global payments.
In the meantime, Grayscale’s XRP Trust’s net asset value (NAV) has
increased
slightly by 0.77% over the past 24 hours to $11.74. So far, the product has $733,532 worth of assets under management (AUM).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.