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XRP continues to stir community interest as debate flares over its relevance in a future financial system featuring private bank ledgers and Central Bank Digital Currencies (CBDCs). This ongoing discussion occurs as banks worldwide increasingly explore these new digital currency technologies. With CBDCs potentially offering direct government-backed digital currency pathways, speculation grew that XRP’s long-argued role as a neutral bridge currency could diminish. However, proponents contend its function remains essential for efficient cross-border value transfer. They point to how Ripple’s solutions (often involving XRP) can allow seamless payments between different fiat currencies or digital assets, potentially reducing the need for banks to pre-fund accounts with large sums in multiple currencies (a costly process known as maintaining nostro/vostro accounts ). A key point revolves around the apparent bank preference for private, permissioned ledgers, fueling fears they might bypass public bridge assets like XRP altogether, perhaps using internal liquidity pools or privately issued stablecoins. XRP advocates counter that even if banks operate on private ledgers for internal processes, XRP’s ability to efficiently source external liquidity on demand and enable rapid settlement maintains its utility for connecting these ‘walled gardens’ for cross-border flows. Related: Ripple Settles SEC Fight for Less, Yet XRP Price Remains Surprisingly Calm They argue XRP offers instantaneous settlement and efficient value transfer across borders distinctly from stablecoins or potentially siloed wrapped CBDCs. The debate gained further traction after Ripple co-founder David Schwartz commented on the inherent limitations of simply creating wrapped, tokenized versions of each individual CBDC. He noted that merely wrapping a CBDC onto another chain doesn’t automatically create usable liquidity between different sovereign digital currencies. Schwartz highlighted the potential inefficiency: managing, for instance, 90 distinct bilateral trading pairs to directly connect just ten different CBDCs would be cumbersome. A neutral bridge asset like XRP, he implied, could streamline this process dramatically. Commentators often point out that XRP’s key advantage, particularly compared to legacy systems, lies in its potential to unlock capital trapped in traditional payment networks. The decades-old SWIFT messaging system, combined with correspondent banking, frequently requires banks to hold substantial, often idle funds in nostro accounts globally, simply to facilitate international payments – which creates significant capital inefficiencies. Related: XRP, SOL, ADA, DOGE Prices Analyzed Following IBKR Listing News Solutions using XRP help to free up these reserves by enabling on-demand liquidity, potentially injecting that capital back into productive use globally. A certain few also suggest that for less common, low-liquidity currency corridors, XRP remains a particularly effective settlement tool. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Harpie, a service aimed at preventing wallet theft and hacks, has shut down after struggling to develop a sustainable business model. Harpie, an on-chain firewall provider backed by Coinbase Ventures and OpenSea , has shut down its services as the startup failed to create a “sustainable business” model around a “theft-free crypto ecosystem,” it said in an X thread on Thursday, March 27. We've made the tough decision to shut down Harpie. Services will be shut down immediately. (1/5) The company, which worked to protect crypto users from hacks, scams, and theft, shared in the post that it hopes to have made an “impact” and inspired other companies to “take that torch and solve this tough problem.” According to the announcement, Harpie’s services would be shut down immediately, and users were instructed to disconnect their wallets from the Harpie RPC using their wallet’s network switcher. “If your transactions are failing, please disconnect your wallets from the Harpie RPC via your wallet’s network switcher. We will be creating a utility to move vaulted assets on the Harpie website in the coming days.” Harpie Even with the shutdown, Harpie made sure to let everyone know that all pending giveaways and rewards from its referral program would still be honored. The shutdown comes nearly three years after Harpie raised $4.5 million in a funding round led by Dragonfly Capital, with participation from Coinbase Ventures and OpenSea. Initially, the startup’s business model charged a 7% fee on any recovered asset, according to Harpie’s whitepaper. However, over time, Harpie shifted to a fixed fee of 0.01 ETH per asset, regardless of the amount recovered.

Harpie, a chain firewall project supported by Dragonfly and Coinbase, announced that it will stop service. Harpie said that it was committed to creating a theft-free crypto ecosystem, but unfortunately failed to build a sustainable business model around this goal.

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