Ripple CEO Brad Garlinghouse says the blockchain-based payments company is seeing more expansive growth outside of the US because of the country’s restrictive stance on crypto.
In a new interview on Bloomberg Daybreak: Asia, Garlinghouse says the majority of Ripple’s open positions will be filled by people in countries more accommodative to the crypto industry.
“I think it’s super frustrating that you see markets like we have here in Singapore, certainly even what we’re seeing in Hong Kong, the UK and Dubai, where the governments are partnering with the industry and you’re seeing leadership providing clear rules, that you’re seeing growth. That’s why Ripple is hiring there, 80% of our hiring this year is to be outside the United States.”
As the U.S. Securities and Exchange Commission (SEC) seeks the court’s approval to appeal the groundbreaking ruling that XRP tokens sold to the general public are not securities, Garlinghouse is optimistic that the decision will be favorable to Ripple.
“I said this a long time ago. The facts are on our side and the law is on our side and we’ll continue to prevail in court because of that.”
Garlinghouse says the US may still become the next crypto hub amid the possibility that the regulatory climate in the country will change.
“I wouldn’t say it’s permanently shut. It’s definitely a tough spot. The US is still the largest economy in the world at 22% of global GDP and so we will have a presidential election. There will be a change or maybe there will be a change… I think there’ll be some shift as you see new administrations come in. I think, eventually, Congress will be frankly called to act.”
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