Crypto Pioneer and former Ripple executive Greg Kidd outline the vision for blockchain-driven banking, suggesting that Ripple can change traditional funds by absorbing outdated institutions.
Kidd shared these insights at the 3rd Annual XRP Las Vegas Conference during a fireplace chat with journalist Eleanor Terrett. He looked back at his early days at Ripple, describing a future beyond the code as a speculative asset. For him, endgame is the complete integration of blockchain into the core of the global financial system.
Kid recalled that when he joined Ripple in 2012, he only had 188 accounts on his ledger.
“It was like being with my disciples.” He said. “But the vision was still clear. Money should run at internet speed.”
Spacious banks, tokenized dollars, and new financial backbone
Today, Kidd leads an initiative to bring the banking system into the banking system by acquiring a vast bank, a nationally recognized institution regulated by the OCC and the Federal Reserve. He aims to directly issue FDIC Insurance US Dollar Deposit Tokens on blockchain networks that include XRP ledgers.
Unlike Stablecoins, which are backed by a 1:1 and need to be limited in scope, Kidd's approach utilizes fractional reserve banks.
We are eight times more capital efficient than Stablecoins.” He said. “And we can pay interest, provide consumer protection and keep it running around the clock.”
This on-chain model serves developers and users from cryptographic origins, while lowering the inefficiencies of legacy systems.
Kid sees a world where people can hold and use digital US dollars that will technically not leave the banking system, even when people are sent across borders. He argues that traditional remittances will become outdated if the funds remain in the ledger and remain in the form of dollars.
Open Banking and Fair Access
The conversation also touched on the evolution of US financial regulations since the 2024 election. Kidd praised the new administration for removing “reputation risk” from federal exam guidelines. This disorder previously maintained many legal industries from the banking system, including crypto, cannabis and adult content.
“We call them a consensual evil.” He said. “If you are legally authorized, you should be a bank. Period.”
Meanwhile, Kidd's political activities have not been slowed down. He is currently advocating a new banking charter that focuses solely on deposits and payments. This allows fintech companies such as Ripple to obtain banking licenses without building brick and mortar branches or having to issue loans.
Kid turns to a future where banks are as accessible and seamless as they breathe the air.
“Payment must be free. Banking must be universal. And blockchain makes it possible.” He said. “What Ripple and others are doing now is building that future.”
Ripples to drive legacy companies out of their misery
As Ripple expands its investments and navigates its post-Lawsuit global market, Kidd predicts the company will play a central role in traditional financial overhauls.
When asked where he saw Ripple 10 years later, Kidd said the company would become a fully integrated blockchain company. He suggested that Ripple one day buy some legacy companies and “push them out of their misery.”
That means he will acquire financial institutions that still operate on outdated infrastructure and move them to more efficient blockchain rails.
🚨Where do you see the ripples at 10 years old?
I think Ripple might one day buy some legacy companies and bring them out of their misery. -Greg Kidd
xrplasvegas2025.
lockin.😎👇pic.twitter.com/fnzm5nsnso
– June 12, 2025
His comments highlight Ripple's long-term ambitions. Not only will it challenge you, but it will absorb and transform your legacy financial infrastructure.
