The cryptocurrency landscape is witnessing a notable shift in perception, as Ripple CEO Brad Garlinghouse has publicly supported the view that traditional financial institutions are adopting strategies reminiscent of XRP’s original vision. In a concise response on social media, Garlinghouse affirmed a statement made by Hugo Philion, co-founder of Flare, who argued that the broader crypto industry is now embracing the bank-centric approach that XRP and Ripple pioneered years ago.
This exchange began when an observer highlighted Philion’s interview remarks, where he pointed out that XRP had faced mockery for its institutional focus. Philion noted that many crypto projects are now actively seeking partnerships with banks and financial entities, effectively replicating Ripple’s long-standing model. Garlinghouse’s simple agreement signals a vindication of Ripple’s strategy, which once drew criticism for its close ties to traditional finance.
Philion elaborated that Ripple’s payments vision has remained steadfast despite regulatory hurdles and industry skepticism. He emphasized that the company’s original goal of enhancing payment infrastructure has been consistently pursued, and the current market dynamics confirm its relevance. Recent collaborations, such as Ripple’s involvement in Mastercard’ s new AI-powered payments network, further underscore this direction. The initiative, named Agent Pay for Machines, aims to enable automated transactions between devices, with Ripple contributing its fast settlement capabilities.
Concurrently, development on the XRP Ledger progresses with an upcoming upgrade. Version 3.2.0, scheduled for release on June 15, includes a significant change: the renaming of the core server software from rippled to xrpld. This rebranding reflects the growing open-source ecosystem around the ledger. The update follows the earlier version 3.1.3, which introduced enhancements to NFTs, Multi-Purpose Tokens, Vaults, the Lending Protocol, and Permissioned Domains. These developments collectively highlight XRP’s continued evolution and its increasing alignment with mainstream financial infrastructure.