Ripple CTO Unveils Critical Upcoming Product at Consensus2024

David Schwartz, the Chief Technology Officer (CTO) of Ripple and a founding member of the XRP Ledger, has announced via his official account on He revealed the topic he will cover during his presentation.

This is the Ripple product that Schwartz plans to discuss

In his tweet, Schwartz hinted that during his speech at the aforementioned crypto event, he plans to unveil Ripple’s vision and roadmap for institutional DeFi on the XRP Ledger. He did not provide any further details, only stating that he will discuss this topic together with Phil Kwok, co-founder of the EasyA app.

A recent tweet from Ripple Labs also announces their talk, stating that these two respected gentlemen will talk about “multichain interoperability, EVM programmability, RWA tokenization, and more.”

“Institutional DeFi” is the next evolution of decentralized finance (DeFi) which, as the name suggests, focuses on financial institutions. It combines the innovations of typical DeFi protocols with the stability and security of the traditional financial sector. It has “the potential for growth and transformative impact,” as stated in a JP Morgan report. JP Morgan is the banking giant offering its clients exposure to cryptocurrency, even as its CEO Jamie Dimon remains one of Bitcoin’s biggest long-term critics.

DeFi mainly allows users to stake or lend their crypto to other users/companies in exchange for regular profits on their cryptocurrencies locked in a DeFi contract.

This is how much XRP Ripple’s CTO owns

Previously, David Schwartz also put an end to several speculations within the XRP community about the size of his crypto holdings and the composition of his crypto portfolio.

The Ripple CTO tweeted that at the peak of his holdings he had approximately 26 million XRP. He admitted that he sold Bitcoin to buy more XRP and also Ethereum. However, Schwartz emphatically stated that he has never sold XRP to buy any other crypto, except perhaps for “some unusual purposes.”

Thus, his tweet put an end to speculation in the community about whether he had sold XRP. Large crypto sales by prominent crypto influencers can sometimes impact the market.