Ripple CEO Brad Garlinghouse has expressed optimism about launching Ripple’s stablecoin this year, pending regulatory approval in the U.S. He also highlighted the potential for stablecoins in Japan, where new legislation has created a favorable environment for such assets.
Garlinghouse acknowledged that Japan has been a more conservative market but emphasized the benefits of its clear regulatory framework. He noted that Japan’s early adoption of regulations has fostered entrepreneurship and investment in the crypto space.
While Ripple is currently focused on launching its U.S. dollar stablecoin, Garlinghouse believes that yen stablecoins are inevitable, given the growing demand for such assets and Japan’s supportive regulatory environment.
The CEO also contrasted Japan’s positive stance towards crypto with the U.S.’s more hostile approach. He criticized the U.S. Securities and Exchange Commission (SEC) for its regulation-by-enforcement strategy, which he believes has hindered innovation and job growth in the country.
Garlinghouse expressed hope that the upcoming change in leadership at the SEC, regardless of the outcome of the U.S. presidential election, will bring a more favorable regulatory environment for crypto in the U.S.
He also ruled out the possibility of a U.S. IPO for Ripple in the near future, citing the SEC’s current stance towards crypto and Ripple specifically.
