Both Ripple and its digital asset XRP have been extremely successful lately, and the company’s products including RippleNet, xRapid and more saw enhanced adoption.
Ripple and its crypto have the ability to create a significant impact on the global payments industry, and this has already begun.
TechCrunch founder supports Ripple and its digital asset
TechCrunch founder, Michael Arrington recently described how $50 million worth of XRP had been transacted in just two seconds and for only 30 cents. He stated that the coin is both fast and effective.
This was not the first time when Arrington expressed his positive sentiment towards Ripple and the digital asset.
In August, while speaking to a news outlet in South Korea, Arrington said that XRP is a robust contender for a base currency for hedge funds and this is only thanks to its cheap, efficient and fantastic nature.
Arrington also explained a while ago that he is not supporting Ripple or XRP for any kind of business-related reasons.
He also made sure to highlight the fact that XRP is not the only crypto he has invested in so far.
$50 million worth of XRP, moved in 2 seconds, for 30 cents
Arrington always brings up the most recent use case of XRP at his own hedge company where Arrington XRP Capital could transfer $50 million worth of XRP in 2 seconds.
He also highlighted the fact that such a thing is not possible with other currencies that are circulating at the moment either crypts or fiat currencies.
“There’s just no [other] way to do it that fast and that cheaply. So, it serves a really useful need for us. Also, When our LPs have redeemed … hopefully never … but when they want some of the money back, we can just send it in XRP again. And, there is no three-day wait for international wires or one-day wait for US wires,” he said.