Asheesh Birla, executive at Blockchain Company Ripple, says the blockchain is a “bundling” bank.
Birla compared this development to the divergence of newspapers through the internet. He believes that the same thing is happening to banking institutions.
The newspaper was eventually divided into classified ads (Craigslist), recipes (Pinterest and Food Plogs), Opinion Columns (Substack and Medium), and Jobs (LinkedIn).
Birla mirrors the take by Bloomberg opinion columnist Matt Levine. Matt Levine believes that stubcoins are emerging as new forms of narrow banks.
In the meantime, Ripple USD (RLUSD)’s market capitalization is over $300 million.
