In a series of predictions, Ripple’s Senior Vice Presidents (SVPs) Eric van Miltenburg and Aaron Sears foresee a transformative shift in the financial landscape, with traditional finance institutions embracing cryptocurrencies and regulatory alignment taking place.
Financial Institutions Embracing Blockchain
Eric van Miltenburg, Ripple’s SVP for Strategic Initiatives, foresees a “new era of finance” emerging as the market approaches 2024.
van Miltenburg highlights the convergence of traditional finance (TradFi) and decentralized finance (DeFi) solutions, a trend that is expected to accelerate in the coming months and years.
Van Miltenburg notes that while global financial institutions were once skeptical of cryptocurrencies, their perception has shifted significantly. Van Miltenburg noted:
We’ve already started to witness the convergence of TradFi & DeFi solutions, a pattern that will only accelerate over the coming months & years. Five years ago, crypto was considered a dirty word by global FIs, yet in the past twelve months, we’ve seen these same players show more interest than ever in harnessing the power of blockchain.
Based on van Miltenburg’s predictions, these institutions now recognize the potential of blockchain-powered services, like those offered by Ripple, to integrate with their existing…
