Ripple’s CEO Brad Garlinghouse said in an interview with CNN’s Julia Chatterly Ripple aims to become the crypto industry’s Amazon within five years.
Ripple Has Similar Potential Like Amazon
He mentioned the incredible rise of Amazon, and how it began as an online book seller before it became a pivot and started dominating e-commerce. He envisages a similar potential for Ripple, though he does claim first and foremeost Ripple is addressing cross-border payments.
Garlinghouse spoke about Ripple state, and its plans for the future. He sees Ripple and XRP as doing very well at the moment, though not paying much attention to short-term price action.
Garlinghouse approaches his firm from a significantly longer-term viewpoint. He contrasted the emerging crypto-markets with a value of a few hundred billion dollars to markets like gold, which are comparatively several trillions.
Furthermore, he believes Ripple’s ecosystem will continue to grow and solve real problems with projects like Coil, for micropayments, for real customers. Garlinghouse said he did not see Bitcoin, Ethereum or other crypto as threatening and that aggregate space development is good for all.
During the bear market, Ripple expanded and hired 150 workers, while many other companies suffered massive layoffs. Garlinghouse also commented on the forthcoming IPO for Ripple, although he had not provided a definite timetable.
“We’ve added more than 150 employees last year, at a time when I think others have been less focused on solving real world problems. There’s been a bunch of lay offs in crypto community over the past weeks”
Ripple IPO An Opportunity For Shareholders
He said the value of XRP is north of $10 billion, so a price of $10 billion for a Ripple IPO is a chance for Ripple shareholders. An IPO will provide more flexibility for Ripple to pursue deals such as its $50 million investment in Moneygram, or Mexican Bitso Exchange.
“When I step back and think about it macro, I think it’s really healthy and constructive for the entire crypto blockchain community to see central banks and central governments lean into what can these new technologies do to make our economy more efficient, our payment infrastructure more efficient… so at large I think it’s really positive.”