Ripple CEO Anticipates Crypto Boom with Changing US Regulatory Environment
Ripple CEO Brad Garlinghouse is forecasting a surge in cryptocurrency adoption in the coming year. In a recent interview with Fox Business, Garlinghouse highlighted the positive impact of a more accommodating regulatory environment in the United States, particularly under the current political climate.
Garlinghouse noted that the US government’s previous approach, characterized by lawsuits and regulatory enforcement, had hampered the growth of the digital asset sector within the country.
“Once the United States government filed suit, we really were kind of frozen in the US market, and so about 95% of our customers today, Ripple’s customers, are non-US financial institutions…””,
He then elaborated on the substantial market opportunity, emphasizing the trillions of dollars flowing across borders globally and the outdated nature of the Swift network, which he described as a technology from 50 years ago. He anticipates modernization and technological advancement, particularly now that the US government appears to be shifting its stance.
Garlinghouse pointed to the transformative effects of these policy shifts, highlighting the “Trump effect,” which, according to him, is already evident in asset prices and is expected to drive wider adoption of blockchain technologies.
He also suggested that blockchain technology’s applications extend beyond cryptocurrencies, potentially encompassing stock trading, real estate transactions, and more.
“We’re definitely already seeing a change in the domestic interest. These six weeks after President Trump was elected, we signed more deals in the United States than we had in the previous six months.”
The Ripple CEO concluded that the integration and re-architecting of the US financial infrastructure via blockchain technology, in areas such as payments, real estate and securities, is a long-term process, but the progress is undeniable.
He believes that the removal of regulatory roadblocks in the US will unleash significant opportunities for the crypto market and that this shift is being underestimated by many.
