Ripple CEO Brad Garlinghouse revealed a $13 trillion opportunity that could benefit cryptocurrencies like XRP and stablecoins. This came as he highlighted how blockchain technology is disrupting global finance as payments are made on-chain.
Ripple CEO Reveals $13 Trillion XRP and Stablecoin Opportunity
In FOX Business InterviewRipple’s CEO revealed that the company they bought last year, GTreasury, processed $13 trillion in payments and none of those payments were made via stablecoin or crypto asset such as XRP. He stated that there is an opportunity to integrate cryptocurrencies and stablecoins as blockchain technology becomes the preferred solution for payment rails.
Garlinghouse also described stablecoins as an entry point for cryptocurrency adoption, calling them the “ChatGPT moment” for cryptocurrencies. It is worth noting that last year, stablecoin transactions worth a total of $33 trillion took place around the world. The Ripple CEO also noted that cross-border payments have become faster thanks to blockchain technology.
The This was recently revealed by Ripple’s CEO that they launched the RLUSD stablecoin as their payment operations accounted for up to 20% of USDC flows. Therefore, they saw fit to release their own product. RLUSD has gained significant traction as Ripple continues to expand its payment services, reaching a market capitalization of $1.41 billion. XRP plays a key role in these payment services because Ripple mainly uses the XRP ledger to process them.
Cryptocurrency analyst – ChartNerd noted that this is also a massive opportunity for XRP, considering that the SEC has declared that crypto assets are not securities. Therefore, institutions could choose to accept crypto assets for payment purposes.
This could also enable Ripple to further integrate the altcoin into its payment services as it currently serves as a bridge currency. It’s worth noting that Garlinghouse reiterated this in a recent interview XRP is the “North Star” for Ripple.
Crypto is now changing the financial system
In Post XRipple’s CEO said that market participants are now noticing a shift in perception cryptocurrency industry from “rat poison” to “animal stone” and then to rewiring the financial system. He added that some of the world’s largest companies are now asking whether they operate stablecoins and crypto assets such as XRP.
Garlinghouse stated that Ripple has strategically focused its trades outside of the echo chamber to bridge the gap between established finance (TradFi) and the crypto ecosystem, and that these bets are paying off. In particular, a crypto company took over The Hidden Path and GTreaury, which it currently uses to integrate XRP and RLUSD into the TradFi ecosystem.
At the time of writing, XRP is trading at around $1.34, up over the last 24 hours, according to data from CoinMarketCap.
Featured image from Pxfuel, chart from Tradingview.com
