In an interview with CNBC, Ripple CEO Brad Garlinghouse released an important statement about the company’s payment services strategy.
Garlinghouse said Ripple’s main goal is to solve the problem of cross-border payments. “We use Stablecoins and deploy XRP as needed,” the CEO said, adding that it will determine the payment method to use based on practicality and efficiency.
Garlinghouse said XRP and Stablecoins play different roles in global remittances, and this distinction is particularly important for institutional customers. Ripple was recently launched in US dollars, the Stablecoin RLUSD reached a market value of $500 million in just a few months. Satisfied with this rapid growth, Garlinghouse said that the reason Ripple has late entry into the Stablecoin market is a solution already used in this sector.
Industry data shows that the global Stablecoin market is currently at around $250 billion. Garlinghouse said the market could grow from $1 trillion to $2 trillion over the next few years.
Ripple has also announced that it will work with New York Melon Bank, the world’s largest custodian bank, to store the RLUSD reserve. Arguing that this choice will boost trust, Garlinghouse said, “Working with reliable, regulated and capitalized partners will strengthen trust throughout the system.”
Gerlinghouse said that creating value by integrating cryptocurrencies with traditional finance rather than completely eliminated is a more accurate approach, saying, “The world is not a structure governed by cryptocurrencies alone. Instead, it aims to integrate the benefits of cryptocurrencies into the traditional financial system.”
*This is not investment advice.
