Ripple has been making headlines these days a lot, and now the San Francisco-based firm is in the spotlight again.
Ripple’s CEO Brad Garlinghouse said that the San Francisco payments firm could one day use other cryptos aside from XRP.
It’s been revealed that during a new interview with CNN, Garlinghouse talked about whether the company is open to using stablecoins or other digital assets in current or future products that they have, according to the latest reports from the Daily Hodl.
“The short answer is yes. Stablecoins are a little bit different and unique because even if you have a stablecoin that is dollar-denominated, you still have that cross-currency problem,” he said.
He continued and explained that “We also though, did design our products to be efficient such that if we entered a market where XRP had very little liquidity, that we could use a different digital asset where there might be more liquidity. The spreads would be tighter.”
— Julia Chatterley (@jchatterleyCNN) December 2, 2020
Garlinghouse also said that “We haven’t yet found a need to do that, but certainly when we think about solving a customer problem, we do want to put the customer first. If we found there was a market somewhere on the globe where the efficiency between XRP and that fiat currency weren’t a tight spread, we might look at using a different digital asset.”
XRP is perfect for the problem that Ripple wants to solve
So far, he also said that Ripple had met its needs in the traditional and emerging markets and the firm will also be expanding its crypto-based remittance platform.
“Our vision really is, how do we make this plug and play and as simple as possible to plug in and take advantage of global liquidity across the XRP ecosystem,” Garlinghouse said.
He continued and explained that for him, it’s very clear that XRP’s speed, scalability and low transaction cost make it perfect for the problem that they’re solving with its help.