The CEO of Ripple, Brad Garlinghouse, is one of the most confident CEOs in the crypto space. Recently, he once again shared his belief about XRP and his plans where dozens of banks will use the technology by the end of next year.
In an interview on CNBC at Money 20/20 Europe, Garlinghouse said that he expects major banks to use XRP as a liquidity tool – and banks using it by the end of next year. According to him, it is more than necessary to continue to grow the XRP ecosystem and liquidity.
Still, Garlinghouse noted that there are many ICOs for tokens that he doesn’t know what problems are solving. This way, he is skeptical about the future of some ICOs. When asked if he thinks XRP can displace the two leading cryptocurrencies, Garlinghouse said that he doesn’t view the cryptocurrencies as direct competitors.
As he stated:
“I think what we’re seeing is the overall growth of this space, and there are going to be many winners,”
Garlinghouse also commented on his recent class-action lawsuit by someone who lost money trading XRP. The person claimed that Ripple violated a securities law, but Garlinghouse said that XRP is not a security, adding:
“Whether not XRP is a security is not going to be dictated by one lawsuit,” Garlinghouse said. “I think it’s very clear that XRP is not a security. It exists independently of Ripple the company. So, owning XRP doesn’t give you any ownership of Ripple equity,”
Garlinghouse also touched base on the regulation issues, seeing them as a benefit to his business.
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