Ripple Could Sell XRP to Non-US VCs to Enhance XRPL: Block Digital Co-founder

Ripple’s XRP Ledger (XRPL) ecosystem could potentially see enhanced growth through the sale of XRP to non-US venture capital (VC) firms, according to Santiago Velez, the co-founder of Block Digital Corporation. Velez cited the example of Solana, which has experienced significant growth due to VC funding for various projects. He emphasized that Ripple should consider selling its XRP holdings to VC firms outside of the US to promote adoption and ecosystem expansion. Currently, Ripple holds a substantial amount of XRP, which Velez believes results in a lack of VC involvement in the XRPL ecosystem. However, legal implications within the US could restrict such sales, hence the suggestion to focus on non-US VCs. This proposal comes amid concerns over the slow adoption of the XRPL compared to other protocols like Solana. The delay in implementing Hooks on the XRPL, which would introduce native smart contracts, has raised questions. Despite potential risks, many community members support this feature as it could drive increased DeFi activity on the XRPL and potentially increase the value of XRP. It’s worth noting that Ripple is currently embroiled in a legal battle with the US Securities and Exchange Commission (SEC), which has allegedly affected the growth and perception of the XRPL and XRP. However, some argue that the lawsuit should not be solely blamed for the lack of adoption, pointing to Solana’s ability to innovate despite regulatory challenges.