Gold Transfer Delays Highlight Crypto's Cross-Border Advantage

Ripple CEO Brad Garlinghouse has pointed out that the slow transfer of gold reserves from North America to the UK by the Dutch central bank highlights the limitations of traditional financial infrastructure.

The Dutch Central Bank, De Nederlandsche Bank (DNB), moved approximately 86 tons of gold between March and August, representing more than a quarter of its reserves stored in New York and Ottawa.

Garlinghouse sees this as an example of the inefficiencies of traditional finance and believes that crypto can offer faster and cheaper cross-border value transfers. He argues that this is a potential use case for Ripple and crypto payments.