By Solomon Odunayo
Brad Garlinghouse, CEO of Ripple, recently revealed that the US-based cross-border payments company could leverage other digital assets aside from XRP in the future.
In an interview with CNN hosted by Julia Chatterley, Garlinghouse was asked whether there is a possibility for the payments firm to use other digital currencies or stablecoins in current or future products.
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Garlinghouse noted:
“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.
The Ripple CEO also stressed that Ripple has realized its targets in traditional and emerging markets, as the firm looks forward to expanding its XRP-based remittance platform:
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.”
“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.
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He also said that the speed and the incredibly low transaction cost of the digital token XRP have been aiding the outstanding performance of the firm in the remittance industry:
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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