Latest news with #Garlinghouse
Yahoo
10-07-2025
- Business
- Yahoo
Ripple CEO makes surprising trillion-dollar prediction on stablecoins
Ripple CEO makes surprising trillion-dollar prediction on stablecoins originally appeared on TheStreet. Ripple, the San Francisco-headquartered blockchain tech and crypto payments company, has been making waves of late. The firm applied for a national banking license and a Federal Reserve master account, it announced in early July. It also entered into a partnership with the Bank of New York (BNY), as per which America's oldest bank will act as the primary custodian for the reserves supporting Ripple's stablecoin, RLUSD. Ripple CEO Brad Garlinghouse is very enthusiastic about the future of industry is worth around $250 billion in market capitalization, and many people think it will reach $1-$2 trillion in "a handful of years," Garlinghouse said on CNBC's 'Squawk Box' on July 9. As per DeFiLlama, the stablecoin industry was worth a little more than $10 billion in July 2020. Within a span of five years, it has grown 25 times to become a $250 billion market today. Garlinghouse's estimate is therefore not overambitious, given the rate at which the industry has surged over the last few years. The progress of the GENIUS Act also makes way for increased regulatory clarity regarding stablecoins in the U.S. Ripple itself launched RLUSD in December 2024. With a market cap of $501 million, RLUSD doesn't account for even 1% of the total stablecoin market. Tether's USDT and Circle's USDC themselves constitute more than 85% of the total stablecoin market. As to why the firm was late to the stablecoin party, Garlinghouse said it was because the company had been using stablecoins in its payment flows for its institutional Ripple's institutional background and regulatory compliance, it can well participate in this market, he added, and continued that the industry's expansion will drive the crypto firm forward. On July 8, a President Donald Trump-backed company filed with the securities regulator to launch a crypto fund that allocates 2% of its assets to XRP. Since the announcement, the cryptocurrency has rallied 6% and was exchanging hands at $2.42 at press time. Ripple CEO makes surprising trillion-dollar prediction on stablecoins first appeared on TheStreet on Jul 10, 2025 This story was originally reported by TheStreet on Jul 10, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
03-07-2025
- Business
- Business Times
Ripple applies for US national bank charter as crypto eyes next frontier
[BENGALURU] Crypto firm Ripple is applying for a national bank charter in the United States, its CEO Brad Garlinghouse wrote in a social media post on Wednesday (Jul 2), following a similar move by stablecoin giant Circle. The move reflects a broader push by crypto firms for regulatory clarity and deeper integration with the traditional financial system. A charter would allow crypto companies to settle payments faster and cut costs by bypassing intermediary banks, while also providing a stamp of legitimacy after years of what they claim has been regulatory sidelining. Ripple's charter will need to be approved by the Office of the Comptroller of the Currency (OCC), a top banking regulator. An OCC spokesperson confirmed it had received a charter application from the company. The company is also seeking a Fed Master account that would give it access to the Federal Reserve's payments infrastructure and allow it to hold its stablecoin reserves directly with the central bank, Garlinghouse wrote on X. Ripple launched its stablecoin, RLUSD, in October last year. While much smaller than dominant players Tether and Circle's USD Coin, RLUSD still ranks among the biggest stablecoins. It has a market value of about US$470 million, according to data from CoinMarketCap. Earlier this week, stablecoin firm Circle also said it is applying to create a national trust bank in the United States, weeks after its robust initial public offering. Stablecoins have gained momentum in recent weeks after the US Senate passed the Genius Act, a development the crypto industry has argued could boost their use through clear regulations. 'The Genius Act will likely support stablecoin adoption in the US while incorporating sensible safeguards for consumer protection and financial stability,' digital asset manager Grayscale's research team wrote in a report on Wednesday.
Yahoo
13-06-2025
- Business
- Yahoo
XRP Could Capture 14% of SWIFT's Global Volume, Ripple CEO Says
SINGAPORE — Ripple CEO Brad Garlinghouse is betting big on XRP's XRP role in the future of cross-border payments, saying the token could capture 14% of the volume carried by SWIFT, the global interbank messaging network, within five years. Speaking at the XRP APEX 2025 event in Singapore on Wednesday, Garlinghouse framed the prediction around XRP's utility in transferring funds internationally. 'There are two parts to SWIFT today: messaging and liquidity,' Garlinghouse said. 'Liquidity is owned by the banks. I think less about the messaging and more about liquidity. If you're driving all the liquidity, it is good for XRP … so I'll say five years, 14%.' SWIFT dominates interbank messaging for cross-border transfers, telling banks where to send money, but doesn't actually move the funds. If a person transfers money from a U.S. bank to one in Europe, messages are sent on SWIFT to coordinate the transfer. The cash takes longer to arrive, often relying on multiple intermediaries, which can make the process slow and expensive. Ripple is angling to compete on the liquidity layer, arguing that the ability to move capital seamlessly, not just communicate transactions, will let it gain market share. Instead of just sending a message, Ripple's system moves both the message and the money using blockchain technology. XRP acts as a bridge currency, converting money instantly from one currency to another, and reducing the need for banks to hold funds in foreign accounts. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Ripple's Brad Garlinghouse Says Circle IPO Signals U.S. Stablecoin Regulation Ahead
SINGAPORE – Brad Garlinghouse, CEO of crypto company Ripple Labs, stated at the Apex 2025 conference that he remains bullish on stablecoins – a sentiment he said is reinforced by the recent blockbuster Circle CRCL initial public offering (IPO). "Circle IPO's clearly went very well. That's a reflection of investor interest in crypto, both institutions and retail. The financial future will be blockchain-based," Garlinghouse said at Apex 2025, the largest annual XRPL summit. Garlinghouse said that one factor in the success of Circle's IPO is the market's fundamental belief that the GENIUS Act – the U.S. stablecoin legislation – will pass. As CoinDesk previously reported, the GENIUS Act, a stablecoin regulatory bill, is poised for imminent Senate passage with bipartisan support, potentially moving to the House and becoming law by August recess. "Regulatory headwinds have now become tailwinds in the U.S., and that's good for the global landscape," Garlinghouse continued. "It's not deregulation that we want, and we are asking for clear regulation, and progress is evident." Other jurisdictions have also recently passed stablecoin legislation, such as Hong Kong. Korea's new administration is also said to be working on a stablecoin bill. Garlinghouse declined to comment on a potential Ripple-Circle merger or acquisition. Apex continues in Singapore through Thursday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Ripple's Brad Garlinghouse Says Circle IPO Signals U.S. Stablecoin Regulation Ahead
SINGAPORE – Brad Garlinghouse, CEO of crypto company Ripple Labs, stated at the Apex 2025 conference that he remains bullish on stablecoins – a sentiment he said is reinforced by the recent blockbuster Circle CRCL initial public offering (IPO). "Circle IPO's clearly went very well. That's a reflection of investor interest in crypto, both institutions and retail. The financial future will be blockchain-based," Garlinghouse said at Apex 2025, the largest annual XRPL summit. Garlinghouse said that one factor in the success of Circle's IPO is the market's fundamental belief that the GENIUS Act – the U.S. stablecoin legislation – will pass. As CoinDesk previously reported, the GENIUS Act, a stablecoin regulatory bill, is poised for imminent Senate passage with bipartisan support, potentially moving to the House and becoming law by August recess. "Regulatory headwinds have now become tailwinds in the U.S., and that's good for the global landscape," Garlinghouse continued. "It's not deregulation that we want, and we are asking for clear regulation, and progress is evident." Other jurisdictions have also recently passed stablecoin legislation, such as Hong Kong. Korea's new administration is also said to be working on a stablecoin bill. Garlinghouse declined to comment on a potential Ripple-Circle merger or acquisition. Apex continues in Singapore through Thursday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
