Brad Garlinghouse explains how regulatory uncertainty around XRP has affected Ripple

CEO Brad Garlinghouse says in what was poised to be a challenging year, Ripple exceeded his expectations for 2020. 

“We aren’t going to grow as fast this year as we thought. However, we’re still getting two production financial contracts a week,” he said.

Indeed, the digital asset and payment system has seen some days this year in which XRP liquidity on Bitso exceeded BTC. But still, an opaque regulatory atmosphere has kept Ripple from reaching its potential, Garlinghouse argued in an interview with The Scoop’s Frank Chaparro.

According to Garlinghouse, there isn’t a “level playing field” for all digital assets in this regulatory climate.

Read Also:   After $6 Million Hack, Value DeFi Turns to Chainlink for Help

“Bitcoin was the only one with the hall pass,” he said.

This creates an atmosphere in which assets without clarity underperform, according to Garlinghouse.

On this week’s episode, Garlinghouse discussed how Ripple is “fighting with one hand tied behind our back,” as well as:

  • Why big banks aren’t partnering with Ripple, but smaller banks are interested
  • The ways regulatory clarity has benefited bitcoin but not other digital assets, and why the lack of clarity impedes Ripple’s growth
  • Why Ripple is currently not planning a blockchain initial public offering (IPO)
  • How central banks are looking into XRP-based ledgers.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Google Play

Source link

What do you think?


Leave a Reply



Why crypto communities are baffled by PayPal’s Bitcoin and Ethereum descriptions

Bitcoin whale clusters show ‘institutional FOMO’ is behind the BTC rally