Ripple’s CEO, Brad Garlinghouse, in a podcast he attended, made a statement about the company’s reach in 2020 and the state of its own cryptocurrency XRP. Stating that the regulations in the United States are not clear, Garglingouse said that this situation slowed Ripple’s progress in its growth scale.
Ripple CEO Brad Garlinghouse was a guest on Frank Chaparro’s podcast called The Scoop on November 13. Stating his thoughts on Ripple and XRP, Garlinghouse said that the point Ripple reached in 2020 made him very happy. However, according to Garlinghouse, it is necessary to clarify the regulations regarding cryptocurrencies in the USA in order to always have “more” and this to happen.
“People focused on Bitcoin instead of XRP”
Garlinghouse, who started his statements this year with the prediction that they will not experience a growth as they predicted as a company, stated that the point reached in 2020 still satisfies him. Saying that 2020 was a tough year, the CEO said Ripple exceeded expectations one way or another.
The CEO continued his statements by stating that the transaction volume of his own cryptocurrencies, XRP, has increased strongly. However, according to Garlinghouse, the unclear regulation of cryptocurrencies in the US prevented the company from reaching its full potential. Garglinghouse spoke as follows:
“In the current environment, there is not enough playing field for cryptocurrencies other than Bitcoin (BTC). Bitcoin is the only cryptocurrency that has a right of way. This situation attracts both individual and institutional investors such as Square to Bitcoin. I think this uncertainty allowed people to focus on Bitcoin rather than other tech platforms. ”
“We could have grown even bigger”
While the Ripple CEO continued his explanations, he told Chaparro, the host of the program, “The environment in the USA, which is uncertain in terms of regulations, would you think it would have grown even more if it were not like this?” The question came. Garlinghouse answered the question positively, as follows:
“There are net regulations regarding cryptocurrencies in countries such as Japan, England, Singapore, Switzerland, and the United Arab Emirates. However, this is not the case in the USA. For example, in recent years, “Bitcoin is not safe.” was announced and Bitcoin was on the rise. Later, the same happened for Ethereum (ETH). Another example is Japan. Japan, on the other hand, looks at XRP as a currency, which allows us to move more clearly while working in that country.
Stating that they are currently working with more than 2,000 customers, Garlinghouse underlined that if there is a clear legal regulation in the USA, their technologies, On-Demand Liquidity and XRP will be adopted more. “I am very happy with the current situation, but there must always be more.” Garlinghouse concluded: “Every entrepreneur wants more.”