In an interview with Fox on 18th April, Ripple CEO Brad Garlinghouse shared valuable insights into the current cryptocurrency market. Despite the recent dip in the market, Garlinghouse remained optimistic and talked about the potential for the market to double by the end of 2024. He attributed this growth to several factors, including the approval of Exchange-Traded Funds (ETFs) and the upcoming Bitcoin halving.
Read Also: XRP Weathers Market Storm, Analyst Maintains Bullish Outlook
However, Garlinghouse also expressed concern over the lack of regulatory clarity in the United States, which he believes is hindering the industry’s growth. He noted that other countries, such as Dubai and Singapore, have adopted cryptocurrencies more constructively by implementing regulatory frameworks to increase adoption in the Web3 sector.
Despite the challenges facing the U.S. market, Garlinghouse remains confident in Ripple’s prospects, particularly in non-U.S. markets. He mentioned that over 95% of Ripple’s customers are located outside the U.S. and that the company continues to expand its offerings by providing payment and custody solutions to financial institutions worldwide.
Read Also: Bitcoin Halving Looms: Crypto Market Braces for Potential Surge, Cardano (ADA) in Focus
Furthermore, Garlinghouse also shared Ripple’s plans to launch a U.S. dollar-backed stablecoin later this year. The stablecoin is positioned as a bridge between traditional finance and cryptocurrency and aims to meet the growing demand for stable assets while prioritizing regulatory compliance in the stablecoin market’s evolution.