Luke Belmar: XRP Made People Money, But Banks Won’t Use It. Here’s why

A fresh debate over the future of blockchain-based banking infrastructure has emerged following comments circulated online from digital entrepreneur and crypto investor Luke Belmar.

In a tweet, crypto analyst Brown Thunder highlighted Belmar’s remarks, asserting that while XRP has historically delivered profits for investors, its long-promoted vision of becoming the primary banking settlement chain may not materialize.

Instead, Brown Thunder pointed to Keeta as a project building what he describes as a more complete institutional solution.

In the attached video, Belmar reflected on his personal experience investing in XRP, stating that he began accumulating the asset at $0.13 and witnessed its rise to $3.50, followed by a sharp correction and subsequent recovery.

He emphasized that XRP has generated returns for participants, making clear that profitability is not his concern. His focus, he explained, is on the long-term viability of XRP’s banking thesis.

Competition to Replace Traditional Financial Rails

Belmar directly challenged the narrative that XRP will ultimately become the dominant blockchain for banks. He argued that the financial sector is highly competitive and that multiple blockchains and businesses are pursuing the objective of replacing the traditional SWIFT network.

According to him, newer technologies compliant, regulated, and traceable may have structural advantages over networks that have existed for more than a decade.

When asked for an example of a blockchain positioned for institutional banking, Belmar named Keeta. He differentiated it from networks such as Ethereum, which he described as serving as a decentralized application layer rather than a banking-specific infrastructure.

He also referenced the idea that different chains serve distinct purposes, citing examples, such as Bitcoin as a store of value and Solana as a capital markets-focused network.

Keeta’s Full-Stack Infrastructure Claim

Brown Thunder expanded on Belmar’s assertions by stating that Keeta is building what XRP previously marketed to investors years ago: settlement rails that institutions can actively deploy. He noted that development activity can be reviewed publicly on GitHub and encouraged independent research into the project.

According to the tweet, Keeta is developing a full-stack system that includes built-in compliance, foreign exchange swaps, a native decentralized exchange, and an anchor system.

Brown Thunder stated that the network is designed with speed, scalability, and low fees in mind, structured in a plug-and-play format that institutions can integrate without requiring extensive customization.

A Narrow Settlement Role Versus Integrated Infrastructure

In contrasting the two projects, Brown Thunder characterized XRP as primarily a bridge asset in settlement. He described this as a narrower scope compared to what he claims Keeta is constructing. Rather than focusing solely on facilitating transactions, Keeta is presented as assembling the entire operational infrastructure from inception.

Belmar’s closing remarks in the video were direct. He stated that banking systems will not operate on the same networks predominantly used by retail traders. He concluded, “With banking, XRP is not gonna succeed. It’ll be KETA. Absolutely, I know it,” before advising viewers to conduct their own research.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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