CEO of Ripple Brad Garlinghouse confirmed in interview With Fox Business, financial institutions, especially banks, increase their participation with Ripple and XRP following the decision of the US Securities and Stock Exchange Committee (SEC) to end their investigation in the company. Development is an important turning point for ripples and possibly the broader digital assets sector in the United States.
CEO of Ripple: Us Market Reawakens
Garlinghouse, who is considering the multi -year Ripple battle with SEC, described the conclusion as a victory at the level of industry. “Ripple is in fact among the first encryption companies to file a lawsuit against the Supreme Education Council, we have said that, when it started, that SEC will be on the wrong side of the law as well as on the wrong side of history, it took longer than we would like to really want …
Ripple, which traditionally focused on the border payments, faced the large winds in the American market during the state of organizational uncertainty. According to Garlinghouse, about 95 % of the current Ripple customer base of non -American financial institutions, including global giants such as HSBC and BBVA. However, the conclusion of the SEC investigation now leads to a noticeable shift in local participation.
“In the six weeks that followed the election of President Trump, we signed more deals in the United States more than we had in the previous six months. These are very innovative technologies. I think they will play more than 10, up to 20 years with regard to how to integrate them and re -connect the US financial infrastructure. […] I think people reduce the size of this change. “
The increasing interest follows two major executives signed by President Trump as part of his pro -Carbuto’s agenda. These include initiatives aimed at “strengthening US leadership in digital financial technology” and creating “strategic bitcoin reserves and US digital asset stocks.” Speaking at the summit of digital assets in New York City last week, President Trump told the attendees: “You will unleash the explosion of economic growth, and with the dollar -backed Stablecoins, it will help expand the dominance of the US dollar.”
Garlinghyus described the shift in feelings as a deep “opening” of American financial institutions. He said: “The banks that were truly hesitant and nervous about touching encryption techniques or even helping their customers, and those banks and these financial institutions tend now, and this is great – not only for Ripple, but for the entire industry.”
The conversation also turned towards the discussion discussions of the continuous organizational framework in Washington. Garlinghyus praised the efforts of legislators such as Senator Senteya Lomes and a member of the Congress of Franch Hill, who are leading initiatives to clarify how digital assets are classified and regulated under American law. “It cannot be just executive orders. They must be blocked by the legislative efforts by Congress,” he said, noting the progress of both the Stablecoin Bill and the market structure law draft that can provide the clarity that the industry has long has sought.
Garlinghouse has reiterated that the legal status of XRP has already received health verification from the Federal judiciary: “XRP was considered a commodity or was not safe by a federal judge, which is the opposite of what the Supreme Education Council said.” This ruling, along with suspended legislation, is expected to strengthen the Ripple position at the local and international levels.
With the continued flow of trillion dollars through outdated global payment systems such as Swift, Garinghouse sees the opportunity to update as huge. “This is a technology structure developed 50 years ago. There is an opportunity to update this […] The US lock has been canceled recently, and I think people reduce the size of this change. “
As Ripple advanced forward, the company expects organizational clarity to accelerate the integration of Blockchain technologies in the prevailing financial services, from payments to the settlement of securities. “This will allow this innovation, and allow more job creation, more innovation, and the formation of capital frankly here in the United States.”
At the time of the press, XRP was traded at $ 2.4295.
Distinctive image from YouTube, Chart from TradingView.com
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