Ripple's CEO Brad Discusses Ripple's Developments on CNN
Ripple's CEO, Brad Garlinghouse was hosted earlier today again on CNN's show First Move with Julia Chatterley. Garlinghouse's last interview with Chatterly took place in September 2019 and quite a bit changed with Ripple since. MoneyGram's CEO, Alexander Holmes also took part in the show a few months ago and discussed XRP.
In the 20-minute segment, Garlinghouse and Chatterley discussed many different topics. Some of the key topics discussed were Ripple's growth and adoption, global cryptocurrency regulation, and even Bitcoin.
Garlinghouse's on Regulation
The interview began with Chatterley asking why 2020 is pivotal to when we look cryptocurrency's at utility value and not speculation. Garlinghouse outlined that global regulation is getting clearer with time.
"I think one of the reasons why 2020 will be very important is the regulatory. That's a word. The clarity is getting better and I mean that globally. Countries like Singapore and Thailand and Switzerland and Japan. I think the US has still an opportunity to do more there. But I think we will probably see that in 2020 and I think that helps catapult the whole industry."
Later he discussed what he aimed on accomplishing in the recent World Economic Forum in Davos. He also explained his close ties with regulators.
"I remember actually you and I were both at Davos and someone that early on in my arrival there was like you know crypto is still a bad word here. And I think a lot of what I'm doing and what a lot of I did in Davos is meeting with regulators meeting with very senior people at banks and explaining to them how crypto can be used specifically XRP can be used to solve a real problem. Not to circumvent regulation not to circumvent any government. And I think once people understand that they very quickly become disarm it's no longer a bad word"
Ripple & Growth
Later Garlinghouse brought up the growth in adoption of XRP and its use in cross border money transmission. He made some bold claims that the flow between US Dollars to Mexican Peso has doubled. Additionally he said XRP handles 7% of all US dollar to Mexican Peso transmission volume.
"Last week we did fifty four million dollars of XRP flows into Mexico. That's seven and a half percent of all flow from US dollar to Mexican peso was 7 percent of the market last week and that's up from maybe 3 percent in December. So this is growing very quickly. And look these are huge industries that can be made massively more efficient by using these new technologies. But he goes back to we said earlier you have to focus on a real problem a real customer sort in the drive that utility. Well you know with 7 percent of liquidity in Mexico being driven through XRP you start to really see Okay this is not a science experiment."
Garlinghouse on Bitcoin
Towards the end of the discussion the topic shifted to Bitcoin and his beliefs in the original cryptocurrency. In it Garlinghouse was revealed to be a Bitcoin bull who believes in its long term value. He also discussed how XRP is different.
"I have said very publicly I think the value of any digital asset in the long term will be derived from the utility it delivers. Bitcoin utility. Increasingly I think it's just viewed as its digital gold. The gold market is a multi trillion dollar market. And bitcoin today is I think around 150 billion dollars higher 60 billion dollars. Yes. Do I think there's an option for bitcoin to appreciate as more people see it as a useful store of value. Yeah. I think so. Do I think there's going to be other digital assets that increasingly have utility for customers and therefore drive velocity usage. People holding it drives demand. Yes I think that's likely."
Ripple & Strategic Partnerships
The interview's last topic was Ripple's expanding strategic partnerships. MoneyGram was briefly mentioned, and more specifically potential rivalry between Ripple's customers.
"We don't want to be in the business of competing with our customer. We want to partner with our customers and I think we obviously are a shareholder in MoneyGram but also a shareholder in a number of other companies in this space. And that's because we want them to be healthy and strong. But so which is really the leading South American Latin American exchange. We're an investor there and we want to see them grow and thrive because they are really good at what they do. And as they grow we can help them grow. That's good for us it's good for them"
The interview ended with them discussing cryptocurrency's growth and the Coronavirus which is ravaging China. All things considered, if everything is as Garlinghouse said, 2020 could be a major year for both XRP & Ripple
Written by Jonathan Ganor
Writer & cryptocurrency aficionado