David Schwartz Says Ripple Once Kept XRP Payments in the Background

Ripple CTO Emeritus David Schwartz recalled that Ripple once played down the blockchain component of XRP-based payments for hesitant institutional clients, describing what he sees as a change in firms’ interest in blockchain strategies. At Evernorth Holdings Inc.’s Nasdaq closing-bell event on Oct. 14, Schwartz discussed how Ripple presented the payment service to customers. He described an earlier approach that kept the blockchain technology in the background and contrasted it with what he characterized as institutions’ current interest in developing blockchain strategies. His comments describe his view of how those conversations changed. Ripple’s On-Demand Liquidity service uses XRP to bridge currencies in cross-border payments. A sending institution can route a payment through the service without holding or transacting in XRP itself.

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