Ripple’s Brad Garlinghouse Talks XRP Before Launching Stablecoin
Ripple CEO Brad Garlinghouse clarified the situation of XRP and Ethereum from the perspective of regulatory bodies.
Garlinghouse's comments carry a lot of weight amid Ripple's tight legal relationship with the US Securities and Exchange Commission (SEC), especially as Ripple approaches its stablecoin launch.
Ripple CEO Brad Garlinghouse: XRP is not a security, Stablecoin is coming.
Garlinghouse said in a conversation with Arrington Capital's Michael Arrington that neither XRP nor Ethereum are securities. This confirmation is crucial as Ripple prepares to introduce a stablecoin, demonstrating its position in a complex regulatory environment.
“Anyone who thinks Ripple is not 100% behind XRP is missing the point. They are missing the plot. We are fully committed and will remain fully committed,” Garlinghouse said.
The ongoing debate regarding the classification of digital assets such as XRP and Ethereum has seen various developments. Notably, a July 2023 court ruling declared XRP not a security, partially relieving Ripple. He also pointed out that some institutional sales of XRP were unregistered sales of securities.
Read more: Everything you need to know about Ripple vs SEC
Meanwhile, Ethereum faces challenges. Accords recently sued the SEC, seeking clarification to mitigate any claims that Ethereum is an unregistered security.
As Ripple prepares for its next phase, the fintech giant is teasing the development of the XRP Ledger ecosystem. At the same conference, Ripple CTO David Schwartz discussed the upcoming Ripple stablecoin with Automated Market Makers (AMM) innovations and lending protocols.
The Ripple community is eagerly awaiting more details, which are expected to be announced at the XRPL Apex event in Amsterdam.
Ripple's stablecoin, backed by US dollar deposits and short-term US government treasuries, is designed for institutions that cannot directly use digital assets but want to use the XRP Ledger. According to Vet, the XRPL dUNL validator, the stablecoin ledger can improve institutional and decentralized finance by leveraging decentralized exchange and automated market-making features.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
As Ripple continues to navigate regulatory and market volatility, the launch of its stablecoin could mark a pivotal moment for the company. Development and adoption in the XRP Ledger can foster new avenues.
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