Common Sense Crypto (@TheCSCrypto), a pseudonymous crypto analysis and education platform on X, has recently highlighted how the developments at Robinhood and Bitstamp are integral to this broader strategy.
In a recent post, he emphasized, “This is Ripple’s true intention. Make the connections to Robinhood & Bitstamp, and you will see this coming together perfectly!”
This is Ripples true intentions, now make the connections to Robinhood & Bitstamp & you will see this is coming together perfectly! You want a 4 to 5 digit $xrp this is the path we are on! pic.twitter.com/eUJdD4JTCG
— Common Sense Crypto (@TheCSCrypto) October 7, 2024
Ripple’s ambitions for XRP have always extended beyond cross-border payments. Common Sense Crypto attached an image delving into the company’s intentions.
According to the image, cross-border payments are merely a testing ground to prepare Ripple for a larger role in the financial ecosystem.
It suggests that Ripple aims to handle 100% of the transactions in the derivatives market, but has kept this intention under wraps due to the system’s current unpreparedness. The missing piece in this grand plan is Codius, a smart contract platform.
The Current Focus On Cross-Border Payments
Ripple has long targeted the inefficiencies in cross-border payments. By leveraging the speed and low cost of XRP, Ripple aims to provide an alternative to traditional banking systems like SWIFT.
However, the strategic focus on payments has come at the expense of developing Codius.
As Common Sense Crypto pointed out, Ripple sidelined Codius because “they were going after payments and competing with Swift and smart contracts make payments more expensive.”
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
The Return of Codius
The narrative around Codius, which was initially shelved, has recently gained traction. He is now being reconsidered due to its potential to integrate with current financial infrastructures being built out by Ripple’s partners like Robinhood and Bitstamp.
Common Sense Crypto noted that the sidelining of Codius might be temporary and that “it may be returning because of what they are building out with Robinhood & Bitstamp.”
Codius is designed to support smart contracts and facilitate a broader range of transactions.
Its return could mark a significant shift in Ripple’s strategy, moving from merely providing payment solutions to enabling a robust platform for financial derivatives and other complex financial instruments.
However, other notable smart contract solutions already exist or are in development, suggesting that the XRPL may not be moving toward Codius.
However, Common Sense Crypto’s comments suggest that Robinhood and Bitstamp may be involved in projects involving Codius and align with Ripple’s ambitions for XRP.
Common Sense Crypto suggests that observing the developments indicates Ripple’s strategic direction on these platforms.
“People think this is hopium, but it is already being built out in time,” he stated, urging observers to consider the broader implications of these partnerships.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
