Uphold President Sees XRP and XRPL Leading Blockchain-Based Financial Shift

Nancy Beaton, president of Uphold's U.S. unit, believes that XRP and the XRP Ledger (XRPL) are poised to benefit from traditional finance's shift towards blockchain technology.

In a video published on Ripple's official YouTube channel, Beaton said that the financial system is transitioning from an existing bank-centred structure to a blockchain-based one. She defined Uphold not as simply a platform for buying and selling digital assets but as a financial infrastructure company.

Beaton mentioned opportunities to cooperate with other companies in the XRPL ecosystem, stating that Uphold, Ripple, and XRPL together can present a complete solution to banks and financial institutions for providing digital assets. She also highlighted the cost and speed competitiveness of blockchain networks, which operate 24 hours a day and process financial transactions at lower costs than existing payment systems.

Beaton emphasized that cross-border remittances are a key example of this shift, citing traditional international transfers as taking days with heavy fee burdens, while blockchain-based transactions can be processed continuously at much lower cost. She predicted that remittances will become 'as easy as sending an email' in the long term.