Ripple CEO Highlights XRP’s Efficiency Across Multiple Use Cases

In a recent episode of the podcast “Metaco Talks,” Brad Garlinghouse, the CEO of Ripple, clarified the company’s position and future direction.

Garlinghouse stated that Ripple does not control the validator network for XRP, although the company is certainly interested in its success. He acknowledged that Ripple owns a significant amount of XRP and believes it to be highly efficient for various applications. However, he also noted that Ripple is not exclusively committed to XRP and sees value in other digital assets like Bitcoin.

He said:

“The validator network is not controlled by Ripple. We’re clearly an interested party in that. We own a lot of XRP. And we think XRP is extremely efficient for many use cases, [but] not all use cases. We definitely are not maximalists in that; we think that there’s a place for Bitcoin. There’s a place for a lot of other tokens and different use cases.“

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The CEO further explained that Ripple started as a company centered around payment solutions but has since broadened its scope. The company is now primarily an enterprise infrastructure firm that focuses on blockchain technology. Its target market includes financial institutions and other large enterprises.

Garlinghouse mentioned that before acquiring Metaco, Ripple had introduced a product called Liquidity Hub. This product aims to manage and source liquidity across the digital asset ecosystem. The acquisition of Metaco has allowed Ripple to extend its services to include custody solutions.

On 19 October, Stuart Alderoty, Ripple’s Chief Legal Officer, announced on social media platform X that the SEC had dropped all charges against Ripple executives, including Garlinghouse. Alderoty emphasized that this was not a settlement but a “surrender” by the SEC. He also pointed out that this marks Ripple’s third consecutive legal win, following a July 13 ruling that XRP is not a security and an October 3 decision that denied the SEC’s request for an interlocutory appeal.

In response to Alderoty’s remarks, Garlinghouse expressed his relief and satisfaction on the same platform. He criticized the SEC for its “ruthless attempt” to personally and professionally damage him and Ripple co-founder Chris Larsen despite the absence of any fraud or misrepresentation claims. Garlinghouse also accused the SEC of failing to protect U.S. consumers and businesses while wasting taxpayer money.

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• Source: https://www.cryptoglobe.com/latest/2023/10/ripple-ceo-xrp-is-extremely-efficient-for-many-use-cases/