Former Ripple official Matt Hamilton has responded to allegations that XRP will soon be available only for institutional payments.
Ripple Labs’ former Principal Developer Advisor Matt Hamilton said that the growing claims that Ripple’s native token, XRP, will soon be available only for institutional payments, eliminating an option for individual transactions, are untrue. Hamilton’s comments came in response to allegations made by the official Twitter account of the recently launched XRPL token called XRPayNet.
The account in question highlighted Ripple’s stance on withdrawing XRP tokens from the market, claiming that the firm plans to limit the use of XRP to institutional payments in the future. XRPayNet said they plan to fill the gap when Ripple finally decides to make XRP only available for institutional payments. “We settle where they will leave the market.” they said.
In response, Hamilton stated that anyone making claims that XRP will soon be limited to institutional payments is intended to mislead the public.
XRP is not authorized, Hamilton tweeted on Thursday. You can build whatever you want on it. You can use XRP for anything you want. Anyone who says “XRP will only be used for institutions” is misleading people,” he said. As part of its growing corporate partnership model, Ripple last month partnered with Swedish money transfer service Xbaht AB and Paris-based payment solution Lemonway to introduce its ODL solution to the Swedish and French markets.