Ripple CEO Brad Garlinghouse said stablecoins will be the crypto sector’s “ChatGPT moment” for businesses in search of faster, more efficient payments, and that many companies are already discussing and strategizing how to implement stablecoins into their operations.
“You have boards of directors and CEOs of companies, whether it’s Fortune 500 or Fortune 2000, they’re asking their treasurers, they’re asking their CFOs, hey, what are we doing with stablecoins,” Garlinghouse told FOX Business on Friday.
“Giving the treasurer and the CFO that option is the unlock,” he said.
Garlinghouse said this unlock would be “the ChatGPT moment of crypto” because it would be the entry point for businesses to access a broader range of blockchain-based services.
Garlinghouse speaking with FOX Business on Friday. Source: FOX BusinessBloomberg Intelligence predicted in early January that stablecoin flows could increase at a compounded annual growth rate of 80% to $56.6 trillion by 2030, a rise that would make stablecoins one of the most important payment tools in global finance.
Garlinghouse noted that stablecoins processed more than $33 trillion in trading volume last year, though nearly 90% of that came from Tether’s USDt (USDT) and Circle’s USDC (USDC).
Ripple launched a competitor stablecoin — Ripple USD (RLUSD) — in December 2024, which is currently the 10th largest stablecoin by market cap at $1.4 billion, CoinGecko data shows.
Ripple also strengthened its blockchain payments infrastructure last year with the acquisition of institutional-based prime brokerage Hidden Road for $1.25 billion and corporate treasury platform GTreasury for $1 billion.
Related: White House crypto adviser says banks shouldn’t fear stablecoin yield
Meanwhile, Garlinghouse said Ripple is set to have a “record quarter,” adding that the company has been “on a tear” since the Hidden Road and GTreasury acquisitions.
Market structure legislation will push crypto industry forward
Garlinghouse said stablecoin payments and broader blockchain adoption would be accelerated by the CLARITY Act, should it pass Congress and be signed into law.
“A lot of eyes are on what is US regulation going to look like and is it going to get done,” he said. “We want to make sure we can’t have another Gary Gensler moment where they try to weaponize policy in a way that is about politics, not about what’s good for the United States.”
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Source: https://cointelegraph.com/news/stablecoins-will-be-cryptos-chatgpt-moment-ripple-garlinghouse?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
