The Head of Ripple (XRP) ecosystem, Brad Garlinghouse, wrote on Twitter that "crypto isn't likely to replace fiat currencies."
Ripple CEO also pointed out that Facebook's Libra should meet the same standard "as other regulated financial institutions."
I agree that crypto isn't likely to replace fiat currencies - I have been very vocal that crypto isn’t likely to disrupt the US dollar and other G20 currencies in my lifetime. (2/7)— Brad Garlinghouse (@bgarlinghouse) July 15, 2019
Earlier David Marcus, Head of Facebook's Libra project, said that the social network does not plan to launch Libra until all regulatory issues have been addressed.
In the meantime, Ripple's investment initiative called "Xpring" issued a report according to which, the initiative committed $500 million in support of over 20 companies, ranging from independent developer projects to larger-scale partnerships.
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