Brad Garlinghouse: Improving XRP Has Become Ripple’s North Star

Speaking to Fox Business at a recent conference in Miami, Ripple’s CEO praised the company’s progress over the past year, especially some of the high-end acquisitions, such as Hidden Road. He also spoke about the growing role of stablecoins in the overall crypto industry, indicating that legacy financial services use them as their entry point.

Key takeaways

Quick scan — what you need to know:

• Speaking to Fox Business at a recent conference in Miami, Ripple’s CEO praised the company’s progress over the past year, especially some of the high-end acquisitions, such as Hidden Road.
• He also spoke about the growing role of stablecoins in the overall crypto industry, indicating that legacy financial services use them as their entry point.
• Ripple’s Record Year and Q1 CryptoPotato reported in April last year that Ripple had agreed to acquire the prime brokerage giant Hidden Road for over $1.2 billion, in what was anticipated to…
• The deal was finalized later that year, and the platform was renamed Ripple Prime.

Background

What led here, in plain terms:

• Weighing in on the overall market state and Ripple’s performance in these challenging times, Garlinghouse said the company he spearheads has been “on a tear.” In fact, he claimed…
• “Our business has been growing very quickly, we do care deeply about the health of the crypto markets overall, but to some degree, our technology is just a piece of our technology.
• And so, we made two big acquisitions last year, both for over $1 billion.
• Both have overperformed our expectations.” The second acquisition he talked about was Ripple Treasury, which is “way ahead of our forecast for both the end of last year, but also in Q1,…

Why it matters

Why readers and decision-makers should care:

• With stablecoins, though, the transfer would be nearly instant at a fraction of the cost.
• Garlinghouse added that outside businesses are showing “a ton of interest” in stablecoin solutions, as the asset class might be the “ChatGPT moment for crypto,” which these entities use to enter and…
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