Donald Trump Jr. and crypto influencer Bitboy talked about XRP.

crypthub

about 9 hours ago

XRP and Cross-Border Payments

Ben Armstrong (Bitboy) and Donald Trump Jr. discussed XRP's potential to transform international banking. Armstrong explained XRP's purpose is to address inefficiencies in cross-border payments, aiming to modernize outdated systems. XRP's function differs significantly from speculative trading, focusing on streamlining value transfer. The discussion highlights XRP's growing momentum as a global standard for efficient payments.

SWIFT vs. XRP: A Comparative Analysis

Armstrong drew a clear distinction between XRP and the SWIFT network. He characterized Bitcoin and XRP as “networks of value,” while SWIFT remains a “network of information.” This difference means SWIFT only transmits messages, delaying the actual movement of funds. XRP solves this issue by addressing liquidity and speeding up overall processes.

Speed and Efficiency Advantages

Traditional international payments often take five to seven days, while XRP transactions complete in approximately 30 seconds. Lower costs and the ability to bridge currencies further contribute to Ripple's initiative. Armstrong pointed out the frustration businesses experience with lengthy verification and settlement delays when transferring money internationally.

Political Dialogue and Future Implications

This discussion arises as digital assets enter mainstream political discourse, with President Trump expressing support for cryptocurrency innovation. The conversation with Trump Jr. introduces XRP’s framework to a prominent political family. Further engagement with XRP’s efficiency model could signify a shift in how political figures view blockchain technology.