Ripple CEO Brad Garlinghouse Discusses Strategic Developments in Cryptocurrency

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Ripple CEO Brad Garlinghouse provided insights into recent developments in the cryptocurrency landscape. His comments addressed the launch of the RLUSD stablecoin, XRP ETF applications, and the potential obstacles posed by the U.S. SEC regarding these applications. He also evaluated the effects of U.S. cryptocurrency regulations and the upcoming elections on these regulations.

RLUSD Stablecoin

Garlinghouse stated, “The RLUSD stablecoin is part of the goals we aim to achieve with our payment services.” He emphasized the significant role of stablecoins like USDT and USDC in Ripple’s business model.

By entering the stablecoin market, Ripple aims to inject liquidity into the ecosystem. “The launch of RLUSD will bring more liquidity to the XRP Ledger and will be beneficial for everyone in the XRP ecosystem,” he added.

XRP ETF

Garlinghouse found the timing of the XRP ETF applications surprising but was not shocked by the outcomes. “I mentioned that other crypto ETFs would be inevitable following the Spot Bitcoin ETFs. Applications from Bitwise and Canary Island are positive for the XRP ecosystem,” he remarked.

“The Commission is working to prevent these funds from being realized,” Garlinghouse stated, referring to the SEC’s attempts to block the ETF applications.

Ripple’s Public Offering Plans

Brad Garlinghouse clarified that going public is not a priority for Ripple. He mentioned, “Due to our issues with the SEC, going public is not our focus right now.” He stressed the company’s strong financial position, indicating they are not in a hurry.

Garlinghouse suggested that going public could take more than 12 months, stating, “We are currently waiting for the term of SEC Chair Gary Gensler to end,” pointing to 2026.

Ripple is currently focused on achieving the right valuation. When the decision to go public is made, they want it to occur in a legitimate environment.

Ripple has selected exchange partners such as Uphold, Bitso, and Bitstamp for the RLUSD launch. Although the launch date has not been confirmed, it is expected to take place soon.

Conclusion

Brad Garlinghouse’s statements clarify the company’s role in the cryptocurrency ecosystem and future plans. The launch of RLUSD and XRP ETF applications aim to support Ripple’s strategic goals, while the ongoing processes with the SEC are being closely monitored. Ripple’s public offering plans remain deferred in light of the current regulatory environment.

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