Ripple CEO Brad Garlinghouse was a guest at Bloomberg yesterday, talking to the U.S. Securities and Exchange Commission (SEC) about hopes for future talks when Gary Gensler becomes Chairman of the Committee. Recently, CNN Julia Chatterley invited Garlinghouse to focus on what will happen if Ripple loses its legal fight against the SEC.
Garlinghouse expressed confidence that Ripple would win, but he did not exclude that the court could dispute it and stated, “I believe that we will take the lead, but as you say, the courts are unlikely to move that way.” At the same time, Garlinghouse emphasized that Ripple continues to grow beyond the United States.
The good news for Ripple is that we continued to sign customers, we signed over 20 new financial institutions around the world since the SEC filed their lawsuit, and I think we will see the network grow very rapidly in non-US customers. The challenge is that it drives blockchain and crypto innovation outside the US which I think is not in the interest of the United States.
In the event of a defeat, Chatterley sampled what Ripple would do with his US activities, specifically to provide US customers with “alternative solutions.” In the affirmative Garlinghouse replied, explaining more:
That certainly could be part of the solution. […]. But we could do that. We always sought about our product as how to solve a customers problem first and foremost, and I think that served our growth, and it’s the reason we saw large activity, billions of dollars in transactions across RippleNet.
However, if not otherwise, the Ripple CEO rejected Ripple’s risk that it will fall behind DeFi or global stablecoins as they serve other applications. He added that Ripple has established a strong network of partners worldwide, including central banks, which regard Ripple’s solutions as ‘helpful.’
I think, here in the United States the industry has a risk of falling behind. But Ripple is solving a cross-border payments problem. We’re working with some and internally speaking to many central banks around the world about some of the stablecoins initiatives for central bank issued digital currencies, and we hear that it is actually helpful what Ripple is doing in solving a cross-border payments problem.
