Grayscale Investments, a leading crypto asset manager, is emphasizing a significant advantage of its recently launched XRP Trust. The trust, which was relaunched earlier this month, allows accredited investors to directly access XRP. Grayscale has been highlighting various benefits of the product, including outlining a four-phase growth cycle that could potentially transform it into a spot-based crypto ETF.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, stated that the XRP Trust offers accredited investors direct exposure to a protocol that has a substantial real-world use case. According to Sharif-Askary, XRP has the potential to revolutionize the global financial infrastructure by enabling fast cross-border payments.
While Sharif-Ashkary initially made this known when Grayscale launched the XRP Trust, the asset manager recently reiterated the statement in a tweet to bring it to the public’s attention.
XRP has already demonstrated its effectiveness in facilitating cost-effective, speedy, and efficient cross-border settlements. Ripple, a prominent San Francisco-based company, has been utilizing the token to enable real-time settlements between nations.
XRP is central to Ripple’s payment ecosystem, and its On-Demand Liquidity (ODL) product (now called Ripple Payments) utilizes XRP for quick and low-cost transnational settlements. Through this solution, Ripple has successfully reduced the settlement period for cross-border payments to a matter of seconds, compared to the traditional financial sector’s usual three business days.
Ripple’s ODL also eliminates the need for pre-funding, making it suitable for instant cross-border settlements. Interestingly, several financial institutions have adopted the XRP-powered payment solution.
For example, Malaysian payment company Tranglo incorporated Ripple’s ODL into all its payment routes in 2022. A year later, the company revealed that it had processed over $1 billion worth of transactions using ODL, highlighting the product’s significance in cross-border settlements.
With Grayscale’s XRP Trust, accredited investors can now gain exposure to XRP, which has consistently proven its importance in global payments. Currently, the net asset value (NAV) of Grayscale’s XRP Trust has increased slightly by 0.77% in the past 24 hours, reaching $11.74. The trust currently manages assets worth $733,532.
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