Ripple's Chief Technology Officer (CTO), David Schwartz, announced on his X account that he will discuss the company's vision and roadmap for institutional decentralized finance (DeFi) on the XRP ledger (XRPL) at the Consensus24 event organized by CoinDesk.

Institutional DeFi: A New Horizon for Decentralized Finance

Institutional DeFi focuses on the adoption and implementation of DeFi protocols by large institutions, such as banks and asset managers. According to a JPMorgan report, institutional DeFi combines the benefits of DeFi protocols with regulatory compliance and customer safety measures.

Insights from Industry Leaders

Schwartz will be joined by Phil Kwok, the co-founder of EasyA, to discuss the future of XRPL and blockchain networks. Their session will cover topics like multichain interoperability, EVM programmability, and the tokenization of real-world assets (RWA). Ripple stated:

> “If you’re at Consensus2024 this week, join @joelkatz and @easyA_app’s @kwok_phil for a session on the future of blockchain and the XRPL. They will be talking about multichain interoperability, EVM programmability, RWA tokenization, and more!”

Community Excitement and Potential Impacts

This announcement has generated excitement among XRP users. A user with the handle XRPcryptowolf, who has over 325,000 followers, remarked that institutional DeFi could be transformative for the XRP ledger. It could attract large institutional investors to the XR ecosystem, broadening its use cases and adoption. Additionally, institutions could create digital representations of traditional financial assets on the XRPL, enhancing the integration between traditional and decentralized finance, and boosting Ripple’s payment infrastructure and growth.

XRPL’s Growing Adoption and Efficiency

A recent report on XRPL's first-quarter performance in 2024 highlighted a 37% increase in active users and a 113% rise in transactions compared to the previous year, reflecting growing interest and adoption. The total number of XRPL accounts rose by 150,000, reaching 5.15 million. Despite a 12.4% decrease in new addresses compared to the previous quarter, the overall increase in account creation from users, developers, and organizations has contributed to the ecosystem’s efficiency.

As Schwartz prepares to present at Consensus24, Ripple users can anticipate significant insights into the future of XRPL. His co-speaker hinted at Schwartz's readiness, stating that he has been preparing for the program all week.