Nancy Beaton, president of the US for digital asset platform Uphold, said traditional banking is undergoing a structural shift toward blockchain infrastructure. She argued that partnerships between companies such as Ripple and Uphold will be essential to moving the financial system toward blockchain-based rails.
“There’s no question that the traditional banking system and financial system is moving to the blockchain,” Beaton said. “I think it’s going to take partnerships like Ripple, like Uphold, like platform providers in order to move us in that direction, because that is clearly where the new financial system is headed.”
Uphold Expands From Retail Wallet to Enterprise Infrastructure
Beaton described Uphold’s expansion beyond its retail wallet, which allows users to buy, sell, hold, trade and earn on digital assets. The company is developing a fully API-enabled platform for enterprise and institutional clients, allowing banks and other financial institutions to connect directly to Uphold’s infrastructure.
This model enables financial institutions to provide digital asset services to their customers without developing the underlying technology themselves. Beaton said Uphold works continuously with Ripple and the $XRP Ledger, while near-term enterprise collaboration with partners including Flare and Firelight is intended to provide institutions with a complete, end-to-end route into digital assets.
Why Blockchain Could Outperform Legacy Payment Rails
Beaton presented blockchain adoption primarily as an operational efficiency opportunity rather than a speculative investment trend. She compared near-instant, low-cost blockchain transfers with the traditional financial system, where international payments have historically taken two to three days to settle and could cost as much as 10% in fees.
“You are spending 10% to send money overseas. Today, that is not the case,” Beaton said. “You can send money overseas for pennies.”
$XRP’s Early Position in the Blockchain Transition
Beaton said $XRP and the $XRP Ledger’s early positioning could give them a structural advantage as financial institutions move toward blockchain infrastructure. She described a broader vision in which sending money becomes as routine as sending an email, portfolios can earn yield automatically, and crypto can be used as collateral without traditional credit checks.
According to Beaton’s view, these developments could reshape everyday financial activity by making cross-border payments more efficient, expanding access to digital asset services and changing how consumers and institutions manage financial value.
