Ripple CEO Brad Garlinghouse believes that increased regulatory clarity for XRP increases his company’s chances of attracting clients in the United States.
Following last year’s landmark court ruling that declared XRP not a security, Ripple CEO Brad Garlinghouse has been relishing the opportunity it gives the company to achieve its business objectives. Garlinghouse shed more light on the improved landscape in a recent Fox Business interview.
The Ripple CEO was speaking to the media at the World Economic Forum (WEF) meeting in Davos, Switzerland, which he attended to spread the word about Ripple’s solutions further. He described the underlying blockchain and cryptocurrencies as an innovative technology and asset class that has come to stay and urged the need for everyone to “embrace and understand it.”
Speaking about Ripple’s regulatory woes in the U.S., he expressed confidence that the U.S. will eventually get the regulation right, even if it takes a little while. He then adds with optimism that Ripple’s legal victory opens up U.S. markets for the company.
“My hope is that now that there is at least clarity for Ripple that XRP is not a security, that that opens up the U.S. market a little bit,” Garlinghouse explained. He next highlights why it is crucial that financial institutions adopt blockchain technology-based solutions such as Ripple’s.
Ripple Disrupts Cross-World Payments
“Cross-world payments have been slow; they have been expensive. Using these technologies [including Ripple’s], we can dramatically reduce the costs and increase the speed and efficiency,” Brad Garlinghouse told Fox Business.
The Ripple boss further highlighted how new technology tends to experience slow adoption and the next steps for blockchain systems to reach the largest population. According to Garlinghouse, mainstream blockchain adoption will not come from closed, insular networks.
Instead, financial institutions must embrace crypto and the interoperability it provides. “Crypto does that [provides interoperability] and can do that across many banks and provide a dramatic improvement to how we think about money movement and, indeed, any transaction,” he concluded.
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