XRP Should Return to Its Original Vision, Not Serve as a ‘Banking Tool’ for Institutions – Crypto CEO

Anodos Finance CEO Pano Mekras has argued that $XRP has drifted too far from its original purpose and should no longer be framed primarily as a tool for banks.

In a recent post, Mekras stated that $XRP should be seen as “a decentralized commodity that lives on a democratic network,” rather than a product to serve institutional finance. His comments challenge the long-standing narrative positioning $XRP as a bridge asset for banks and cross-border settlements.

Key Points

• Anodos CEO says $XRP should reflect its original decentralized vision, not just serve banks.
• Mekras cites XRPL founders’ goal of peer-to-peer value exchange without financial gatekeepers.
• The shift toward banks is for adoption strategy, not a redefinition of $XRP itself.
• In the community, some prioritize decentralization, others emphasize institutional use.

$XRP Identity Crisis Resurfaces

Mekras’ stance highlights a growing divide in how community members perceive $XRP. On one side are proponents emphasizing its role in institutional adoption through Ripple’s efforts to integrate $XRP into global payment systems.

On the other side are voices like Mekras’, who argue that this framing overlooks the asset’s roots in decentralization and financial independence.

According to Mekras, labeling $XRP as a “banker’s coin” is a misconception that has been amplified over time, obscuring its foundational goals.

Revisiting the Original Vision

Referencing $XRP’s early development history, Mekras pointed to the work of $XRP Ledger creators, including David Schwartz, Jed McCaleb, and Arthur Britto.

He argued that the initial aim was not to support banks, but to remove reliance on centralized financial intermediaries altogether.

Mekras cited Schwartz’s 2019 tweet, in which the former Ripple CTO complained about being unable to pay a tour guide due to a lifetime restriction from PayPal:

“They only take PayPal, and I have a lifetime ban. This perfectly symbolizes what has motivated me for the past eight years.”

In other words, this explains the founding principle behind the $XRP Ledger.

I had to get someone else to pay my tour guide for me today and I paid them back in cash. They only take @PayPal and I have a lifetime ban. This perfectly symbolizes what has motivated me the past 8 years.

— David 'JoelKatz' Schwartz (@JoelKatz) November 14, 2019

Notably, XRPL launched in 2012 as an open, decentralized network enabling peer-to-peer value exchange without traditional gatekeepers.

Mekras described the system as a “public utility,” emphasizing its built-in decentralized exchange and tokenization capabilities as tools meant to empower individuals rather than institutions.

From Open Vision to Institutional Pivot

The debate also touches on what Mekras calls a “strategic pivot” in $XRP’s narrative. As Ripple evolved from its early days as OpenCoin, the company began targeting banks and financial institutions. It promoted its technology as a faster and cheaper alternative for cross-border payments.

Mekras suggests this shift was more about driving adoption than redefining the asset itself. In his view, $XRP remains fundamentally independent of Ripple, even as the company continues to build enterprise-focused solutions around it.

Community Divided

The discussion has sparked mixed reactions across the crypto space. Some agree that $XRP’s decentralized features and open infrastructure are underappreciated, while others maintain that institutional integration is key to its long-term value.

Other community voices, such as Mason Versluis, have suggested that banks and financial institutions may have less incentive to adopt $XRP. He cited Ripple’s massive holdings as a hindrance, claiming that major $XRP adoption could make Ripple richer, and competitors may resist that outcome.

In response, Schwartz has said that banks will adopt $XRP regardless, provided it makes business sense to do so.