Ripple CEO Brad Garlinghouse hinted in a recent interview that a stablecoin could be launched sooner than expected.
Ripple has consistently targeted launching a stablecoin by the end of this year, subject to regulatory approvals. Garlinghouse said Ripple is working closely with U.S. regulators to ensure compliance ahead of the stablecoin’s launch, which is expected to launch in the U.S. before expanding globally.
Japan is emerging as a key market for Ripple’s stablecoin ambitions. The country recently enacted legislation providing a clear regulatory framework for stablecoins, positioning Japan as an attractive environment for fintech innovation. Garlinghouse said Japan’s progressive stance on regulatory openness dating back to 2017-2018 has fostered a thriving entrepreneurial environment, unlike the United States, which has lagged behind in regulatory guidance.
While Ripple initially focused on launching a USD-backed stablecoin, Garlinghouse suggested that a yen-backed stablecoin could follow, given Japan’s supportive regulatory environment. He also noted that large companies in Japan are leading the stablecoin space and are often partnering with innovative startups like Ripple to navigate this new financial frontier.
Despite the challenges in the US, Ripple remains optimistic about its global expansion. The company has a strong presence in the Asia-Pacific region, with 40% of its business focused there. However, the US regulatory environment, which Garlinghouse described as “hostile” to cryptocurrencies under the current administration, has slowed Ripple’s domestic growth. Garlinghouse expressed hope that new leadership at the SEC could bring a more balanced approach to crypto regulation in the future.
He also ruled out the possibility of a US IPO for Ripple in the near future, citing the SEC’s current stance towards crypto and Ripple in particular.
*This is not investment advice.
