Ripple CTO Explained Why He Will Never Pay Banks to Use XRP
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Ripple CTO David Schwartz rejected offering financial incentives or discounts to banks to drive XRP use, stressing XRP should be used only when it’s the best option and noting Ripple Payments doesn’t require institutions to hold or use XRP. He warned subsidies can mask weak demand (citing Uber) and said Ripple will focus on reducing friction and supporting early adoption rather than paying for usage, signaling an emphasis on organic adoption, token utility, and sustainable crypto/payments growth.
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- Schwartz rejected artificial incentives, saying XRP should be used only when it’s the best option.
- He warned subsidies can mask weak demand, using Uber as a cautionary example.
- Ripple prefers reducing friction and supporting early adoption over paying for usage.
Ripple CTO David Schwartz pushed back against the idea of incentivizing banks to use XRP. Responding to a community discussion, Schwartz said XRP should only be used when it is the best option, not because institutions are offered artificial discounts.
Ripple CTO Explains Why Incentives Shouldn’t Drive XRP Adoption
The discussion began when a user suggested offering discounts to banks that choose XRP for settlements. Since Ripple Payments does not require institutions to hold or use XRP, the idea was that cheaper pricing could encourage adoption.
This proposal reflects a long-standing debate with…
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