[Digital Today reporter Jinju Hong] The possibility that XRP could establish itself as a global reserve asset has been raised again. A crypto entrepreneur presented a path for XRP to become part of the international financial system beyond being simply an investment asset.

On March 6, blockchain outlet The Crypto Basic reported that Versan Aljarrah (베르산 알자라), founder of Black Swan Capitalist, recently unveiled a step-by-step scenario in which XRP could develop into a global reserve asset over the long term.

First, sovereign adoption is the initial stage. Aljarrah stressed that national adoption is essential for any asset to become a global reserve asset. He said gold, the U.S. dollar and Special Drawing Rights (SDR) gained international trust in the past thanks to adoption by governments and central banks.

He argued that XRP would need to be integrated as part of national financial systems, including central banks, treasuries and state-backed payment networks. He cited emerging markets with high currency volatility exploring blockchain-based payment systems to secure liquidity and lower remittance costs. He also mentioned the possibility that BRICS countries could use XRP as a neutral payment tool to reduce dependence on the dollar.

Regulatory clarity is also a key variable. As the second stage, he pointed to the Clarity Act, a U.S. digital asset regulatory bill. The bill includes provisions distinguishing strategic digital assets from securities, and could have an important impact on Ripple and the XRP ecosystem.

Aljarrah argued that if Ripple reduces XRP supply below a certain level, the asset could become more neutral and adoption by institutions and governments could become easier. Governments tend to be reluctant to adopt as reserve assets those that are overly controlled by a specific company.

The next stage is IMF recognition. The IMF is an international financial institution that manages global liquidity and the reserve asset system. The IMF reserve basket currently includes the dollar, euro, yen, pound and yuan. Aljarrah analysed that if the digital finance environment expands, XRP could also combine with a programmable form of the SDR structure.

It would also need to evolve into global payments infrastructure. Aljarrah forecast that over the long term, XRP could develop into a global payments layer beyond being a simple payment token. He stressed that XRP’s fast transaction processing speed and low fees could support various financial activities such as international trade, cross-border payments and debt repayment. He added that it could also serve as a link between tokenised assets and the traditional financial system.

Still, some point out that the scenario remains at a theoretical stage. That is because it would require simultaneous adoption by multiple countries and policy changes. In particular, there is still no precedent for digital assets to be included in the IMF reserve basket. Experts believe political and institutional change would be needed before XRP can establish itself as a global reserve asset.

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