Cryptocurrency payments are at the same early stage that e-commerce faced more than two decades ago, said Ripple CEO Rhys Merrick.
summary
- Cryptocurrency payments are similar to early e-commerce before infrastructure made online shopping normal for consumers, Merrick says.
- Stablecoins and scalable blockchains now serve as payment infrastructure, similar to broadband and smartphones.
- Ripple’s recent coverage shows growth in payments, but demand for XRP remains disconnected from ledger adoption.
He compared today’s cryptocurrency payment market to online retail in 2000, when online shopping made up only a small portion of global retail sales.
“In 2000, the dot-com bubble was bursting and buying things online was almost negligible globally,” said Ripple CEO Rhys Merrick.
He said consumers did not yet trust the Internet with their money, even though the systems behind online shopping were already taking shape.
Merrick said global e-commerce later became part of daily life due to improved infrastructure. Secure payment gateways and better access to the internet and smartphones have helped users purchase goods online with minimal friction.
Payment infrastructure remains the key test
Cryptocurrency payments are now going through a similar infrastructure phase, Merrick said. In his view, scalable blockchains, stablecoins, regulated fiat and simple wallets are playing the role that broadband, cards and mobile phones played in e-commerce.
“Cryptocurrency payments are quietly moving through the same slow foundational phase before inevitable mainstream normalization,” Merrick said.
His comments pointed to payments rather than trading as an area where cryptocurrencies may gain wider use.
Ditto I mentioned By crypto.news Ripple CEO Brad Garlinghouse said stablecoins could become a major entry point for companies using cryptocurrencies. He said finance teams and treasurers are reviewing stablecoins for payments and treasury operations.
This offering is consistent with Ripple’s current product trend. The company has focused on stablecoins, cross-border payments, token settlement and enterprise infrastructure while pushing for clearer rules for US digital assets.
Stablecoins give payments a clearer path
Ripple has expanded its payment suite with stablecoin integration. As reported by crypto.news, Ripple and Bitso Fired MXNB, a stablecoin backed by the Mexican peso, is on the XRP Ledger. Ripple said that MXNB and RLUSD can support an orderly settlement between the United States and Mexico.
Ripple has also added tools for AI agent payments. In the latest update, crypto.news Covered Ripple’s XRPL AI Starter Kit, which allows software agents to use XRP and RLUSD for automated payments through the x402 protocol.
MasterCard moved in the same direction. Previously, crypto.news discussion Mastercard’s global settlement network, which supports USDC, RLUSD and PYUSD. The supply of dollar-backed stablecoins is approaching $300 billion, with USDT and USDC holding the largest share, the report said.
These payment tools do not mean that every user will deal with cryptocurrencies directly. Like e-commerce, adoption may depend on whether users can pay, settle and transfer money without seeing the technical layer behind the transaction.
Demand for XRP remains a separate question
The growth of Ripple payments also leaves a separate question for XRP. In a previous article, I discussed crypto.news How banks can use XRP Ledger Without purchasing large amounts of XRP. Stablecoins and token assets can move around the ledger with only small amounts of XRP being used for fees.
This gap is important for markets. Ripple may continue to expand its payments business while XRP price movement depends on live token demand, exchange flows, ETF activity, and broader risk appetite.
Merrick’s post focused on payment adoption, not the price of XRP. His argument is that cryptocurrency payments may grow slowly before becoming normalized, just as online shopping did after years of skepticism.
The comparison also shows that adoption is based on trust. E-commerce needs more secure payment systems, better delivery networks, and familiar devices. Cryptocurrency payments still need easier wallets, reliable stablecoins, regulation, trading tools, and strong consumer protections.
If these systems improve, cryptocurrency payments may become less obvious to users. Payment may appear natural, while blockchain settlement runs in the background.
