Crypto Titans Face Off
Even though they're both "US based" companies, which is all the rage now in the crypto world, all is not well in paradise as they say. These two giant crypto companies are actually in severe competition with each other. Ripple Labs, the creator of the XRP Ledger and $XRP crypto currency has recently launched RLUSD. This is a stable coin that is in direct competition with the other American conglomerate; Circle.
They say it's been their plan all along but Circle has launched a 24/7 global payments network, with particular focus on cross-border payments, based on their stablecoin USDC. This puts them in direct competition with Ripple Labs, their fellow Trump administration endorsed crypto firm, and eats into their main business; payments.
In my opinion this is actually great for the consumer. Even though neither of these firms are targeting retail users, they are both business-to-business firms, direct competition like this holds all four of their feet to the fire and ensures a healthy environment with less chance of a monopoly forming. Ripple Labs particularly is in danger of forming such a monopoly with it's extensive incursion into the international payments world. Yes there are other competitors, but they're much smaller. Examples include Stellar with their $XLM payments token and even the little known NIMIQ platform with their $NIM token that claims to be "the most accepted crypto in the world."
Of course we can't forget our very own $HBD which I've seen used here and there :). I remember spending HBD back in the day to buy some stuff via an e-commerce plugin. Whatever happened to all that stuff?
Peace & Love,
Adé