Garlinghouse Says Ripple Leads In Building Transparency and Trust In Crypto

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Ripple CEO says the company will continue to focus on transparency and trust by solving real-world problems with blockchain solutions.

Brad Garlinghouse, the CEO at Ripple, is confident that crypto will be stronger than it has always been if the tech is used to solve real-world problems. In a tweet today, Garlinghouse shared some points he made on stage at the 2022 Ripple Swell conference in London.

“As I said on stage – I firmly believe that crypto will be stronger [solving real-world problems with crypto and blockchain] if we keep focusing on transparency and trust,” he said.

Garlinghouse added that the leading Silicon Valley blockchain company Ripple always has led and would continue to lead in building transparency and trust in the crypto space.

As I said on stage – I firmly believe that crypto will be stronger because of this if we keep focusing on transparency and trust. Ripple has and will continue to lead in this regard.

— Brad Garlinghouse (@bgarlinghouse) November 16, 2022

Ripple Focusing on Solving Real-World Problems With Blockchain

Ripple is focused on solving real-world problems with blockchain technology, especially around cross-border payments. Garlinghouse also highlighted some of the feats Ripple has accomplished in the global payment industry using cryptocurrency and blockchain solutions.

According to Garlinghouse, the company has processed over $30 billion in fiat and crypto payments using its global financial network technology, RippleNet. He added that Ripple recently expanded On-Demand Liquidity (ODL) coverage to Africa by partnering with leading fintech company MFS Africa.

It bears mentioning that ODL is a solution developed by Ripple, which uses XRP as a bridge currency for cross-border settlements. At the moment, nearly 40% of payout markets, representing 90% of foreign exchange markets, are live on ODL, Garlinghouse said.

“Despite some headwinds, I’m immensely proud of the Ripple team who day in and day out focus on helping our customers move value around the world – whether remittances, individual payments, bulk funding, treasury management, and more,” he concluded.

Widespread Adoption of Ripple Solutions

As reported, several traditional financial institutions have partnered with Ripple to use the company’s payment solutions for cross-border settlements. 

In May, Ripple partnered with FINCI, a Lithuanian fintech company, to take RippleNet to Eastern Europe. According to the announcement, FINCI partnered with Ripple to use an ODL solution to facilitate cross-border settlements in Mexico.

I-Remit, a Philippines-based fintech company, announced in September that it had expanded its use of Ripple’s ODL to enhance its cross-border treasury flow.

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