Ripple chief executive Brad Garlinghouse says the San Francisco payments firm could one day utilize cryptocurrencies aside from XRP.
In a new interview with CNN, Garlinghouse addresses whether the company is open to using stablecoins or other digital assets in current or future products.
“The short answer is yes. Stablecoins are a little bit different and unique because even if you have a stablecoin that is dollar-denominated, you still have that cross-currency problem.
We also though, did design our products to be efficient such that if we entered a market where XRP had very little liquidity, that we could use a different digital asset where there might be more liquidity. The spreads would be tighter.
We haven’t yet found a need to do that, but certainly when we think about solving a customer problem, we do want to put the customer first. If we found there was a market somewhere on the globe where the efficiency between XRP and that fiat currency weren’t a tight spread, we might look at using a different digital asset.”
To date, Garlinghouse says Ripple has met its needs in traditional and emerging markets as it looks to expand its crypto-based remittance platform.
“Our vision really is, how do we make this plug and play and as simple as possible to plug in and take advantage of global liquidity across the XRP ecosystem.
It is so clear to me more than ever that XRP’s speed, its scalability, its incredibly low cost per transaction dynamics make it perfectly suited for the problem we are solving with it. We’re seeing that the community behind XRP, the other use cases, we’re seeing that grow every week.”
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