“Ripple does not own bitcoin, but we are waiting for its growth”

Ripple CEO Brad Garlinghouse said that although the company owns a large volume of XRP, it does not manage the cryptocurrency itself. As for Bitcoin, it is waiting for its growth.

“Ripple uses the open source XRP registry, it is not our blockchain. We own a large volume of XRP, and therefore worry about network health, activity and fame, ”Garlinghouse said in a podcast
Chris Brummer

He also noted that Ripple uses XRP in connection with a low transaction fee, compared to bitcoin and ether. At the same time, although he does not own the first cryptocurrency, he is waiting for its growth. Although bitcoin appreciation will not solve the coin problem for use as a means of payment, transactions are too slow and expensive.

Interestingly, XRP, according to CEO Ripple, will not be universally used for retail payments. But for transfers among companies, the coin is ideal.

“We think of XRP as a means of moving wealth among organizations, between different pools of liquidity,” Garlinghouse emphasized.

He also touched on the topic of stablecoins, saying that this type of cryptocurrency will continue to grow and will not leave the market anywhere. For example, Tether has grown significantly in recent years and entered the top ten cryptocurrencies by capitalization. In general, stablecoins exceeded his expectations.

At the end of the podcast, the CEO of Ripple said that the future of cryptocurrencies is in mutual interaction. It is necessary to make decisions for the exchange of data between networks, this will allow transferring funds with very low commissions and as quickly as possible.

Earlier this month, Garlinghouse expressed doubt about the successful launch of Libra. In his opinion, if the project is still to be launched, then no earlier than 2022.