Ripple Is Going “All-In”, Top Executive Says

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As an analyst with over two decades of experience in the financial sector, I find myself intrigued by Stuart Alderoty’s assertions at the 2024 Financial Markets Quality Conference. His emphasis on Ripple’s commitment to cross-border payments, custody solutions, and stablecoins, coupled with their interest in tokenizing real-world assets, suggests a company that is not only adapting to market trends but also positioning itself for future growth.

During a recent appearance at the 2024 Financial Markets Quality (FMQ) Conference, Stuart Alderoty, chief legal officer at Ripple, noted that cross-border payments have always been the company’s core product. Now, however, Ripple is also heavily betting on custody and the stablecoin sector. “We are going all-in on all three pillars,” he stressed. 

The company is also interested in the tokenization of real-world assets, which has emerged as a new trend. 

 

Once regulatory approval is secured, Alderoty predicts that Ripple will emerge as the leading provider of enterprise cryptocurrency solutions within the United States.

“Ripple has always been a compliance-first company. We’ve been around for 12 years,” he stressed. He has also mentioned Grayscale and Coinbase while naming the crypto companies that are “not going away.” 

Lagging behind 

The Ripple executive expressed doubt that the SEC is considered the primary global regulator, stating, “During my meetings with regulators in Singapore, the UK, Brazil, Dubai, and elsewhere, I didn’t find any mention of the SEC.

Attorney Alderoty recounts a recent instance where the SEC was criticized by a judge for not adhering strictly to the law. The question arises as to why the commissioners continue in their positions, asserts the lead lawyer for Ripple.

Everyone else understands the advantages now; they see the potential for technology to create jobs, generate revenue through taxes, and foster innovation in our economy.

The attorney remarked that other regulatory bodies are striving to harmonize innovation and investor safety. He further stated, “They’re leaps and bounds ahead of us, even beyond the US Securities and Exchange Commission (SEC)… I’m not sure if we can match their pace at this juncture.

Alderoty has stressed that crypto is not a flash in the pan, adding that it is not made up of criminals and bad actors. He also believes that crypto and the US dollar can live in harmony. 

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2024-09-18 00:00