Ripple CEO: The Dutch central bank took several months to transfer 11 billion dollars in gold, which is the ideal use case for cryptocurrency

According to Bitcoin.com, Ripple CEO Brad Garlinghouse pointed out that the Dutch Central Bank (DNB) has redeployed approximately 86 tons of gold from New York and Ottawa to London over several months, involving an amount of about 11 billion dollars. About 59 tons were completed through market transactions (sold in New York, bought in London), and more than 27 tons were physically transported.

After this operation, DNB's gold reserves in London increased from 18.1% to 32.1%, while the total reserves remained unchanged at 612.4 tons. Garlinghouse stated that cryptocurrency has evolved from a 1.5 billion dollar experiment in 2013 to a 27 trillion dollar asset class, while the way central banks transfer value is still stuck in the 1940s, "this is precisely the ideal use case for cryptocurrency—instant, secure, and low-cost storage and transfer of value globally."