Ripple CEO Brad Garlinghouse has highlighted the future plans of the company that will have a significant impact on XRP. In a recent interview with FOX Business, Garlinghouse discussed his optimistic outlook on the crypto market potentially reaching $5 trillion by the end of the year.
Garlinghouse emphasized that the $5 trillion projection for the crypto market is not overly ambitious considering the diminishing supply of Bitcoin, especially with the upcoming Bitcoin halving, and the increasing demand for Bitcoin through exchange-traded funds (ETFs). He even suggested that he may have underestimated the eventual scale of the crypto market.
When asked about the potential positive impact of clearer U.S. regulatory laws on the crypto market, Garlinghouse responded positively. He acknowledged the historical significance of robust U.S. regulation in fostering economic growth and global prominence. However, he also pointed out that the existing laws have created problems for the crypto industry, leading innovators and entrepreneurs to relocate to other economies with more favorable regulations, such as Dubai, Singapore, and the U.K.
Garlinghouse stressed the importance of the U.S. adopting a pro-innovation and pro-compliance stance towards crypto. He believed that this approach could drive job creation and economic growth, asserting that the blockchain industry is here to stay. Transparent regulations for crypto would enable industry participants to operate and expand with confidence.
In terms of Ripple’s growth trajectory, Garlinghouse mentioned that over 95% of their customers are financial institutions outside the U.S. The company provides payment and custody solutions to these institutions and aims to continue expanding despite the slow adoption in the U.S. market. Garlinghouse also highlighted the massive opportunity for Ripple to be an infrastructure provider for the crypto market, which would be beneficial for both Ripple and XRP, the digital asset it utilizes for payment solutions.
Garlinghouse expressed his optimism about this opportunity, stating, “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.”
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