Canary Capital’s CEO, Steven McClurg, recently expressed his insights on Ripple’s potential impact following the launch of Ripple Treasury after its acquisition of G Treasury. McClurg highlighted that Ripple’s global remittances network stands as one of the most significant applications of cryptocurrency today. He underscored that while this aspect may not be the company’s top revenue generator, it addresses a critical global issue by facilitating faster and cheaper cross-border payments, particularly for countries that significantly depend on remittances.
Looking ahead, McClurg expressed optimism about RLUSD, Ripple’s stablecoin pegged to the U.S. dollar. He anticipates rapid adoption of RLUSD once it is fully integrated into Ripple’s partner ecosystem. He believes RLUSD has the potential to rival established players like USD Coin over time, largely due to the regulatory framework that supports its operation. According to McClurg, RLUSD seems to benefit from stronger oversight in the U.S., making it more appealing to institutions and governments.
McClurg also speculated on the possibility that if the U.S. government opts not to develop a central bank digital currency (CBDC), it might instead consider outsourcing the creation of a digital dollar to private firms, with Ripple and Circle as leading candidates. He pointed out that governments globally have been exploring digital currencies for years and often seek partnerships with companies that have experience in the stablecoin realm. Based on these developments, McClurg believes that it is only a matter of time before the U.S. takes steps in this direction.
When discussing XRP, particularly in the context of an ETF, McClurg noted a recurring question from institutional investors: what underpins the token’s value? He highlighted the contrast with Bitcoin, which is widely understood as a digital currency. For XRP, he remarked that more explanation is needed regarding its relationship with Ripple’s network and its functionality within that ecosystem. Although the subject can be complex, he views the inquiry as both legitimate and crucial for serious investors seeking clarity.
