Ripple CEO Brad Garlinghouse has said that stablecoins will be a “ChatGPT moment” in the cryptocurrency industry for companies looking for faster and more capable payments, and many companies are already discussing and developing strategies to implement stablecoins in their businesses.
“You have boards and CEOs of companies, whether Fortune 500 or Fortune 2000, asking their treasurers, asking their CFOs, hey, what are we doing with stablecoins” – Garlinghouse he said FOX Business on Friday.
“Providing the treasurer and the CFO with this option paves the way,” he said.
Garlinghouse said this unlocking will be “ChatGPT’s cryptocurrency moment” as it will be the entry point for companies to access a wider range of blockchain-based services.
Bloomberg Intelligence predicted in early January that stablecoin flows could expand at a compound annual growth rate of 80% to $56.6 trillion by 2030, making stablecoins one of the most critical payment tools in global finance.
Garlinghouse noted that stablecoin trading volume exceeded $33 trillion last year, although almost 90% of that amount came from USDT (USDT) Tether and USDC (USDC) Circle.
In December 2024, Ripple launched a competing stablecoin, Ripple USD (RLUSD), which is currently the 10th largest stablecoin by market capitalization of $1.4 billion, CoinGecko data can be seen.
Last year, Ripple also strengthened its blockchain payments infrastructure by acquiring institutional brokerage firm Hidden Road for $1.25 billion and treasury platform GTreaury for $1 billion.
Related: A White House cryptocurrency adviser says banks shouldn’t be concerned about the profitability of stablecoins
Meanwhile, Garlinghouse said Ripple will have a “record quarter,” adding that the company has been “in shambles” since the acquisition of Hidden Road and GTreaury.
Market structure regulations will push the cryptocurrency industry forward
Garlinghouse said stablecoin payments and broader blockchain adoption would be accelerated by the CLARITY Act if it passes Congress and is signed into law.
“Many eyes are focused on what U.S. regulations will look like and whether they will be implemented,” he said. “We want to make sure there is not another Gary Gensler moment where they try to weaponize politics in a way that is about politics and not about what is good for the United States.”
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