Proposal for XRP to Become a Strategic Asset for the United States Financial System

Bittime - Have you ever imagined that one day Ripple (XRP) could become part of a larger global financial system, even for a country as big as the United States?

Although XRP is currently still in its development stage, an ambitious proposal has recently been put forward Ripple (XRP) as a strategic asset for the US financial system.

The proposal not only focuses on leveraging XRP for international transactions, but also has the potential to replace most existing traditional payment systems. So, what is contained in this proposal? Let's look further!

XRP As a Replacement for Nostro Liquidity

One of the main ideas in this proposal is the use of XRP to replace the liquidity currently managed through Nostro accounts at global banks. Nostro accounts are accounts held by banks abroad in foreign currency, which are used to facilitate cross-border transactions.

It is said that there is currently about $27 trillion held in these accounts worldwide, with the US holding about $5 trillion of the total.

According to this proposal, XRP could replace up to 30% of these funds, which means it provides a great opportunity to optimize global liquidity in a more efficient way.

Imagine, if this proposal came to fruition, a payment system based on XRP could save the US up to $7.5 billion annually. How to? One way is to make XRP a payment channel for state financial transactions, including social security payments.

New Regulations to Introduce XRP in the US Financial System

Not just a plan to use XRP in transactions, this proposal also includes major recommendations regarding regulatory changes.

One of them is an executive order from the US President requesting SEC, Treasury Department, and Justice Department to classify XRP as a legal payment asset.

The purpose of the order was to resolve the ongoing legal issues between Ripple and SEC, which is a major obstacle to widespread adoption of XRP.

In addition, this proposal also suggests creating legislation requiring banks in the US to adopt XRP, as well as requiring the Federal Reserve and the Office of the Comptroller of the Currency to use XRP as a replacement for the Nostro account system.

If implemented successfully, this could be a major step in the modernization of the US financial system.

Crypto Community Reaction

Of course, this proposal received mixed reactions from the crypto community. Some consider it an unrealistic idea, especially given the fact that two-thirds of the XRP supply is still in the hands of Ripple, the company that issued this asset.

However, despite the criticism, many still see XRP's great potential as a strategic asset in the future.

Although not officially approved by the SEC, the publication of this proposal sheds new light on XRP. This is proof that XRP has the potential to become part of the wider global financial system, even in a large country like the US.

Conclusion

The proposal to make Ripple (XRP) a strategic asset in the US financial system shows the huge potential that XRP has. With the possibility of replacing a more efficient and cost-effective payment system, XRP could become a modern solution for international financial transactions.

Will we see XRP become an integral part of the global financial system in the future? Time will tell!

FAQ Proposal for XRP to Become a Strategic Asset

1. What is XRP and how does this proposal propose its use?

XRP is a cryptocurrency developed by Ripple Labs, designed to make cross-border transactions easier with low fees and high speed.

The proposal proposes that XRP be used as a replacement for liquidity in Nostro accounts currently used by banks for international transactions, as well as becoming a primary payment system for the country, including social security payments, which could save up to $7.5 billion in annual costs.

2. How would this proposal affect the United States financial system?

The XRP proposal seeks to integrate XRP into the US financial system by proposing an executive order ordering government agencies such as the SEC, Treasury Department, and Department of Justice to classify

Additionally, the proposal also suggests new regulations requiring US banks and financial institutions to adopt XRP, replacing the current Nostro account system.
 

3. What is the reaction from the crypto community to this proposal?

The XRP proposal has received criticism from some members of the crypto community who consider it unrealistic, especially since most of the XRP supply is still owned by Ripple, the company that issued this cryptocurrency.

However, despite the criticism, many see the potential for XRP to become a strategic asset in the future, especially in terms of cost efficiency and increased global liquidity.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

References

Crypto news, Mitrade.com, accessed March 17, 2025

crypto news, Cryptopolitan.com, accessed March 17, 2025

Author: Fkey