HomeNewsExclusive: Ripple CEO Brad Garlinghouse Shares Insights on Company's Growth Strategy

Exclusive: Ripple CEO Brad Garlinghouse Shares Insights on Company’s Growth Strategy

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  • Ripple CEO Brad Garlinghouse reveals plans for a US dollar-backed stablecoin.
  • Garlinghouse underscores Ripple’s international expansion and focus on payment solutions.

In an interview with Fox Business, Ripple CEO Brad Garlinghouse outlined the platform’s strategic roadmap for the next three years, noting that the company will focus on launching a US dollar-backed stablecoin.

The CEO highlighted Ripple’s strong international presence, noting that 95% of its customer base comprises non-US financial institutions. He also emphasized the intent to expand on the platform’s core offerings in payment and custody solutions using blockchain and crypto.

Despite regulatory hurdles in the US market, Garlinghouse stressed Ripple’s determination to continue growing globally. He asserted that Ripple will continue to expand despite the unencouraging pace of which crypto adoption in the country, due to regulatory concerns.   The company’s main goal, as Garlinghouse noted, is to position itself as “the infrastructure for global growth.”

Garlinghouse added that the stablecoin project positions Ripple as a leader in compliant and crypto-finance solutions, particularly in contrast to competitors like Tether. Per his statement, “Our upcoming US dollar-backed stablecoin responds to rising demand, positioning us as a leader in compliant crypto-finance solutions, distinct from competitors like Tether.”

Ripple CEO’s Perspective: US Regulatory Environment and Cryptocurrency

Garlinghouse discussed concerns regarding regulations in the United States, stressing its impact on the growth of the cryptocurrency market. He noted a perceived lack of legislative advancement, which, in his view, impedes market expansion.

In a related note, the Ripple chief criticized what he described as a sluggish pace in Washington’s comprehension of the crypto market, stating, “Washington is still trying to understand this market.” He also singled out the current administration and regulatory figures, notably SEC Chair Gary Gensler, suggesting a lack of understanding regarding cryptocurrency.

Furthermore, the CEO disputed assertions by certain political figures, including Senator Elizabeth Warren, whom he quoted as characterizing crypto users exclusively as “bad actors.” Garlinghouse urged a shift towards more informed and pro-innovation policies, drawing parallels with the early days of the internet boom.

At the time of writing, XRP trades at $0.524697, marking a 4.45% intraday increase. Year-to-date (YTD), the cryptocurrency has risen by 13%, displaying 15/30 green days over the past month.

 

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Collin Brown
Collin Brown
Collin Brown is the managing partner of ETHNews. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Collin endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Collin's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Collin continues to be a driving force in the cryptocurrency community. Business Email: [email protected] Phone: +49 160 92211628
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