Ripple’s CEO Brad Garlinghouse Celebrates Company’s Victories
Ripple’s CEO Brad Garlinghouse has highlighted a series of significant victories for the fintech giant, emphasizing the acquisition of Standard Custody & Trust Company and the company’s strategic positioning in the cryptocurrency market. In a boastful tweet, Garlinghouse talks about the company’s achievements, which include securing nearly 40 U.S. money transmitter licenses, an MPI license from MAS, and VASP registration with the Central Bank of Ireland.
Ripple’s Strategic Acquisition of Standard Custody and Regulatory Milestones
Ripple recently announced its acquisition of Standard Custody & Trust Company, demonstrating its dedication to regulatory compliance. According to Garlinghouse, the acquisition will help Ripple improve existing product offerings for customers and explore new products and use cases while maintaining full compliance. This acquisition is expected to strengthen Ripple’s custody capabilities significantly and align seamlessly with its commitment to regulatory adherence.
Mr. Huber’s Inquiry on XRP’s Position
Despite being a major contributor to XRPL’s growth, Ripple has not introduced its stablecoin. Ripple’s reliance on XRP as a bridge currency for cross-border settlements and its potential role in connecting central bank digital currencies (CBDCs) might be influencing this strategic decision. As a result, the Ripple community and the market are eagerly awaiting Ripple’s decision on the release of a stablecoin and the potential reasons behind choosing XRP over a stablecoin.
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