In a interview With FOX Business, Ripple CEO Brad Garlinghouse detailed the company’s ambitious growth plans over the next three years, highlighted by the launch of a US dollar-backed stablecoin and strategic expansion into international markets against a backdrop of current regulatory challenges in the United States.
Ripple CEO Unveils 3-Year Growth Plan
When asked about the company’s growth over the next three years, Garlinghouse began by highlighting Ripple’s significant international presence, with approximately 95% of its customer base located outside the United States. “Ninety-five percent of our customers are non-U.S. financial institutions,” he said.
Additionally, Garlinghouse explained that Ripple sells payment solutions and custody solutions around blockchain and crypto. He highlighted the company’s core offerings and expressed its strong commitment to future expansion.
“We’re going to continue to grow, even though the US market, as we talked about earlier, has been slow to adapt, partly from a regulatory point of view, the non-US market has been really strong for us. And we’re going to be the infrastructure around all of that. This is our goal and we think this opportunity is huge. We think this will be great for Ripple,” Garlinghouse noted.
In addition to infrastructure, Ripple plans to improve the utility of XRP, the digital asset at the heart of its payments protocol. Garlinghouse expressed a positive view of XRP, linking its success to Ripple’s expansion and wider adoption of its technologies. “We think this will be great for Ripple. We think it will be great for XRP,” he said, reinforcing the symbiotic relationship between Ripple’s growth and the adoption of its companion cryptocurrency.
Garlinghouse then delved into the details of the next Stablecoin backed by the US dollar, a crucial development in Ripple’s strategy to connect traditional finance with the booming cryptocurrency sector. He described the stablecoin as a response to growing demand in the stablecoin market, currently valued at $150 billion and potentially growing to over $2 trillion. “Ripple has always been about how to connect this new world to a traditional form of finance, which people call TradFi,” he explained.
This stablecoin aims to provide a reliable and regulation-compliant option unlike competitors like Attached, which is based outside the United States and subject to different regulatory review. This initiative represents a strategic evolution aimed at positioning Ripple as a leader in compliant, secure and user-friendly crypto-finance solutions. “I think this market will grow a lot. I think a US-based player that prioritizes compliance has a big role to play,” added Garlinghouse.
Regulatory environment and advocacy for clear guidelines
Garlinghouse also addressed the regulatory environment in the United States, criticizing the slow pace of legislative progress which he believes is hindering market growth. “Washington is still trying to understand this market,” he commented, expressing concern over potential legislation that could impose undue barriers on the booming crypto market.
He has been particularly critical of the current administration and regulatory figures, stating: “This administration, I think, has taken a pretty anti-crypto stance led by the SEC Gary Gensler as the president really doesn’t understand it. He also challenged the discourse put forward by certain politicians, such as Senator Elizabeth Warrenwho said: “The only people who use crypto are bad actors.”
Garlinghouse concluded with a call to action for more enlightened, innovation-friendly policies that align with promoting job creation and economic growth, recalling the early days of the job boom. Internet in Silicon Valley. “It’s about leading the next wave of innovation,” he said, urging U.S. policymakers to embrace and facilitate the growth of blockchain and cryptocurrencies through clear and supportive regulations. Via added:
How pro-innovation policies in the United States will prevail. Step 1 – replace SEC leadership and step 2 – Elizabeth Warren’s staff should read some real facts about crypto instead of constantly spreading misinformation.
At press time, XRP was trading at $0.486.
Featured image from CNBC, chart from TradingView.com
