Jake Claver

Got it.

Um, talked to MasterCard and Visa back in 2024.

Uh, we've talked to R3.

We did a project with them.

I can't talk about the project, but you know, um, they had a lawsuit with Ripple back in 2014, 2015, ended up settling for 1.04 billion XRP, um, that they use.

So R3 doesn't have its own settlement token.

Mm-hmm.

But it's infrastructure.

They're kind of like the Oracle for large institutions.

They build out proprietary blockchain infrastructure inside of Corda, which is their blockchain.

But because it doesn't have its own settlement mechanism, they leverage XRP as the primary settlement layer for that infrastructure.

Got it.

Are any banks using it yet?

So it's been trialed in a lot of different places.

It's never been like effectuated, like banks aren't using it to exchange value yet.

I believe that's because there's not enough liquidity in the token.

They're actually going to have to drive the price much higher for them to start leveraging it in that capacity.

I mean, total market cap right now is around $130, $140 billion.

I think the market cap is going to look absurd at the price point that I'm just going to throw out here.

I think it needs to be north of $50 to $100 a token before there's enough liquidity in it for them to be able to start settling between counterparties at a massive scale.