- Ripple CEO Brad Garlinghouse displays robust optimism about the company’s trajectory, emphasizing its focus on long-term cryptocurrency utility.
- Ripple plans to penetrate the crypto custody market, expanding its business solutions through the acquisition of Swiss-based Metaco.
Amid a recent downturn in the cryptocurrency sector, often referred to as a “crypto winter,” Ripple CEO Brad Garlinghouse remains extraordinarily optimistic about the trajectory of his company. Known for its focus on the utility and long-term potential of cryptocurrency, Ripple continues to align with partners sharing a similar vision.
In a recent tweet, Garlinghouse expressed his unwavering confidence, stating,
“Coming out of one of the coldest crypto winters yet, I’m incredibly bullish about Ripple’s trajectory. Every day we’re thinking about the long-term opportunity of crypto utility, putting our money/minds behind that mission, and partnering with folks who share that vision.”
When Ripple pivoted to payments in 2014, it was because the DEX ecosystem on the XRPL was doing well. There was over $8 million per day in swaps and payments that we could 100% confirm was real economic activity.
We wanted to focus on the thing that we felt that we, as a single…
— David "JoelKatz" Schwartz (@JoelKatz) June 11, 2023
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His positive outlook coincides with a significant announcement from Ripple: plans to venture into the crypto custody market. This strategic move involves the acquisition of Metaco, a Swiss-based digital asset custody and tokenization technology provider.
With this acquisition, Ripple aims to enhance its suite of business solutions, equipping customers with the technology to safeguard, issue, and settle any type of tokenized asset. This acquisition signals Ripple’s commitment to broadening its offerings and solidifying its position within the dynamic and evolving cryptocurrency ecosystem.
Further bolstering Ripple’s promising stance is the latest development in its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Ripple recently secured a crucial win regarding transparency in this legal dispute.
District Judge Analisa Torres ruled that documents related to a 2018 speech by William Hinman, former SEC Director of Corporation Finance, could not be sealed. In his speech, Hinman had claimed that, from his perspective, Ethereum was not a security.
The initial decision for such documents to be provided to Ripple as part of the discovery process was made by Magistrate Sarah Netburn in January 2022.
The Ripple-SEC lawsuit news was met with enthusiasm by the XRP community, resulting in a near 7% increase in XRP. According to crypto lawyer Bill Morgan, this decision bodes well for Ripple on the summary judgment motions, echoing Garlinghouse’s optimistic sentiment for the company’s future.
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