XRPL upgrade to let banks pay XRP fees for clients
- —The Sponsor amendment is based on the XLS-68 Sponsored Fees and Reserves proposal
- —The sponsor covers a 1 XRP reserve per account and 0.2 XRP per object
- —For 1 million clients, a bank could hold about 1 million XRP in reserves
- —The amendment is supported by 6 validators out of the 29 threshold
Why it matters: Banks will be able to integrate XRP into products without exposing the token to clients, but demand for XRP may shift to institutional sponsors.
Source: CryptoSlate