While crypto has become much more than just a buzzword, many finance leaders still don’t fully understand the technology and the business advantages it provides. Instead, there are a lot of interpretations and opinions circulating around the meaning and use of crypto: what to do with it, how to regulate it and its potential to transform the world as we know it.
Regardless of what you might have heard through the grapevine, there are real crypto solutions that are already making a significant impact on business across industries and around the globe. And it’s important to be able to sift through the noise to determine how crypto solutions can deliver real value to your organization.
As crypto continues to gain momentum by delivering on the promise of better business, Ripple is launching a global “Crypto Means Business” campaign to spread awareness about how crypto solutions can be used by finance professionals to drive a more efficient, transparent and dynamic financial system that better serves their business. We cover a number of tangible, real-life use cases that are already in production today; from streamlining cross-border payments and improving treasury management, to making assets more agile, offering new financial services, and increasing customer engagement.
What Can Crypto Do for Your Business?
When it comes to crypto—understood broadly as cryptocurrencies, but also stablecoins, central bank digital currencies (CBDCs), NFTs and more—the opportunities are endless. For example, for finance professionals who are dissatisfied with slow and inefficient payments, crypto can enable secure, lightning-fast rails for payroll processing, micropayments, cross-border payments, treasury management, and beyond. In other words, a whole new world of payments opens up—one that is rid of pre-funding, high transaction fees, slow settlement times, and opaque capital flows.
Many of the benefits of better payments contribute to customer satisfaction, and at the heart of every business is its customers. Crypto can be used for payments in a way that is invisible to the individual, as when, for example, it acts as a bridge currency for cross-border payments between two fiat currencies. But it can also be more front and center, and research on small and medium sized business payments shows that customers are not only becoming more interested in interacting with cryptocurrencies directly, but in fact are starting to prefer using cryptocurrencies over traditional fiat in certain instances.
That’s why building and increasing customer engagement with crypto payments is one key use case for a business looking to strengthen brand loyalty, improve customer retention, and stay on the cutting edge. And while managing crypto for payments or other use cases requires new technologies and skills, organizations can quickly and easily buy, sell and hold cryptocurrency with plug-and-play solutions like Liquidity Hub, allowing them to streamline services, attract new customers and build new revenue streams.
Lastly, let’s talk tokenization—the process of creating a digital version of an asset held on a blockchain. By tokenizing assets on a blockchain, everything from currencies and collectibles to IP and access rights are made more agile and readily available. For businesses, on-chain tokens can represent any type of asset such as gold, stocks, bonds, real estate and more—providing greater transparency of ownership and movement of that asset. And because of the inherently decentralized nature of blockchain, markets for trading, staking, and more are available 24/7/365.
Take Non-Fungible Tokens (NFTs) as one example: minting NFTs to represent carbon credits on a blockchain is one way companies are using tokenization, which provides a real-world solution to achieve sustainability goals and accelerate progress towards combating climate change. Another way brands are using tokenization is to deepen customer engagement through unique NFT offerings that give the buyer exclusive access to products or experiences.
How Ripple Can Help
For more than a decade, we have built our crypto solutions to be synonymous with innovation, decentralization, financial inclusion, and sustainability. By using the public, decentralized XRP Ledger (the first major blockchain to become carbon neutral) and its native digital asset XRP (which was purpose-built for payments), Ripple is uniquely positioned and experienced in streamlining global capital flows and powering innovative financial solutions for central banks, financial institutions of all kinds and enterprise customers alike.
From crypto-enabled payments and optimized crypto liquidity, to central bank digital currencies (CBDCs), Ripple’s crypto solutions are powering innovation and providing the competitive advantage needed for businesses to succeed in a quickly modernizing world. The imagery for our campaign depicts just this—the financial center of a city in transformation, inspired by the impact that Ripple’s customers can make when leveraging our solutions to transform the world of finance.
As financial players continue to deepen their understanding of Ripple and crypto solutions for business, companies that lean into crypto technology will reap the benefits and realize true business value; including streamlined capital flows, cost savings, increased agility and efficiency, market expansion, deeper customer engagement and new business models.
Our efforts are centered around building breakthrough crypto solutions for a world without economic borders—a world which understands that, for Ripple and our customers, crypto means business.
Learn how to get started with your crypto strategy today.
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