Ripple CEO Brad Garlinghouse has pinpointed future efforts of the company that would be of immense significance for XRP.
Garlinghouse shared this insight in a recent interview on FOX Business with Maria Bartiromo. The FOX journalist asked Garlinghouse to discuss his bold outlook on the crypto market potentially doubling to reach $5 trillion by year-end.
Garlinghouse stressed that the $5 trillion projection for the crypto market is not even particularly ambitious in the broader context. He pointed out the diminishing BTC supply, particularly with the looming Bitcoin halving, coupled with a rising demand for Bitcoin facilitated by exchange-traded funds (ETFs).
Taking these dynamics into account, Garlinghouse hinted that he may have actually underestimated the eventual scale of the crypto market.
Covered a lot of ground with @MorningsMaria today – the BTC halving, my predictions for the crypto market by EOY, how pro-innovation policies in the US will prevail (step 1 – replace the SEC leadership and step 2 – Elizabeth Warren’s staff should read some actual facts on crypto… https://t.co/1EB59xUB7J
— Brad Garlinghouse (@bgarlinghouse) April 18, 2024
When asked whether the crypto market would see a further positive boost with clearer U.S. regulatory laws, Garlinghouse responded affirmatively. He highlighted the historical significance of robust U.S. regulation in fostering the growth of the nation’s economy to a position of global prominence.
However, he expressed that these existing laws have proven to be problematic for the crypto industry. He highlighted how crypto innovators and entrepreneurs have opted to relocate to other economies with more favorable crypto regulations. Garlinghouse cited examples from Dubai, Singapore, and the U.K.
In parallel, the Ripple CEO stressed the importance of the U.S. adopting a pro-innovation and pro-compliance stance towards crypto. He noted how this approach could fuel job creation and economic growth, asserting that the blockchain industry is here to stay.
Furthermore, Garlinghouse emphasized that transparent regulations for crypto will enable industry participants to operate and expand with confidence.
Dominating Crypto Infrastructure will be Great for XRP
Building on this premise, the FOX journalist inquired about Ripple’s anticipated growth trajectory in light of clearer regulation, particularly as the company plans to introduce a USD-backed stablecoin.
Garlinghouse pointed out that over 95% of its customers are financial institutions outside the U.S. He noted that Ripple provides payment and custody solutions to these institutions. Moreover, the CEO revealed that Ripple seeks to continue expanding even though the U.S. market remains slow with adoption.
Furthermore, Garlinghouse expressed that the opportunity to be an infrastructure provider for the crypto market is massive, noting its positive implications for Ripple and XRP, the digital asset it leverages for payment solutions.
“That opportunity is huge. We think that is going to be great for Ripple; We think it would be great for XRP, the digital asset we use. So, I’m very optimistic,” Garlinghouse remarked.
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