Importantly, however, the Ripple president's speech at the time was not just about crypto payment technologies, where the company itself is using and expanding the use of XRP, but more generally about the decentralized finance industry for institutions. Here, we can recall the news from late 2022 that the central banks of France, Switzerland and Singapore, led by BIS, will test DeFi on the Forex markets to facilitate cross-border payments. On the one hand, decentralized finance can help traditional financial institutions or open a new window of opportunity for institutional investors. On the other hand, DeFi is clearly a competitor for the former and a riskier and more "dark water" field for the latter.