Ripple CEO Outlines Good And Bad News For XRP Holders
- Ripple plans to launch the RLUSD stablecoin, aiming for approval within a few weeks.
- Ripple faces regulatory challenges in the US but finds support in countries like Japan.
- CEO Brad Garlinghouse stresses that crypto should be viewed as a bipartisan issue, beyond politics.
Ripple CEO Reveals Good And Bad News For XRP Holders
Ripple CEO Brad Garlinghouse recently shared both exciting and concerning updates for the XRP community and the broader crypto market.
In a recent interview, he discussed Ripple’s plans to launch the RLUSD stablecoin, ongoing regulatory challenges in the US, and Japan Crypto (how country like Japan embracing crypto).
While the company is making strides globally, Garlinghouse expressed frustration with the lack of regulatory clarity in the US, which has been a major hurdle for Ripple and other crypto companies. He also emphasized that crypto and blockchain should be seen as bipartisan issues, with support coming from both sides of the political spectrum.
Good News for the XRP Holders
Garlinghouse provided some good news, particularly around Ripple’s upcoming RLUSD stablecoin, which will be pegged to the US dollar. According to him, the launch is expected within a few weeks, as Ripple works closely with regulators to ensure all necessary approvals are in place.
The RLUSD stablecoin is different from XRP in that it will focus on the growing stablecoin market, which could be worth $2-3 trillion in the coming years.
Garlinghouse also mentioned the strong partnerships Ripple has built over the years, particularly in Japan, where crypto regulations are more favorable. Ripple has been working with Japanese financial giant SBI Group since 2016, and Japan is seen as a key market for the RLUSD stablecoin due to its openness to innovation in financial technology.
In addition to the RLUSD launch, Ripple’s use of XRP for cross-border payments continues to gain traction globally.
Bad News for the XRP Holders
While there are exciting developments on the horizon, Garlinghouse acknowledged the challenges Ripple is facing in the United States. The ongoing legal battle with the US Securities and Exchange Commission (SEC) has slowed down the company’s progress in its home country.
The SEC has taken a more aggressive approach towards crypto companies, often relying on enforcement actions rather than clear regulations. This has created uncertainty for Ripple and many other players in the US crypto space.
Ripple has secured a temporary stay order in its case with the SEC, allowing the company to continue operating while disputes are addressed. However, Garlinghouse pointed out that the US is lagging behind countries like Japan, the UK, and Switzerland, which have been more supportive of crypto innovation. He sees this as a missed opportunity for the US to lead in the global crypto market.
Final Thoughts of Ripple CEO
In his closing remarks, Garlinghouse emphasized that crypto and blockchain should not be viewed through a political lens. While some Republican leaders have been more supportive of the technology, he believes it should not matter which party is in power. Crypto’s potential to transform financial systems is too important to be caught up in political divisions. Ripple remains committed to its global expansion, even as it navigates regulatory challenges in the US.
