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Brad Garlinghouse Compares Ripple to Amazon, Suggests That Central Banks Could Use XRP

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Mon, 02/17/2020 - 16:45
Alex Dovbnya
Cross-border payments and books: Brad Garlinghouse says that Ripple could grow in a similar way to Amazon
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In his long-awaited interview with CNN's Julia Chatterley, Ripple CEO Brad Garlinghouse boldly drew parallels between his company and e-commerce behemoth Amazon. With the help of this comparison, he explained why central banks could one day start using XRP.

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Ripple to follow Amazon's lead

When Chatterley suggested that Ripple could build a platform that would substitute XRP for a 'Fed Coin,' Garlinghouse agreed that it might be the case. 

"Right now, the customers we are focused on are commercial banks, payment providers. We are ceirtanly thinking about other types of customers we can serve."  

Garlinghouse recalled that Amazon, which is now valued at more than $1 bln, was initially selling books and competing with Barnes & Noble. For Ripple, cross-border payments were the first verticle but he doesn't rule out that it may branch out into other industry niches. 

"We want to make sure that we are winning in cross-border payments before we do another verticle."              

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No IPO in the near-term

As reported by U.Today, the XRP community wanted to know more details about Ripple's initial public offering. According to Garlinghouse, his words were simply misunderstood when he mentioned that Ripple wouldn't be the last the looming crypto IPO race.  

"I kind of kept it open and people heard something a little bit different than that."    

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Ripple wants its partners to grow  

Ripple already owns a 10 percent stake in traditional money transfer company MoneyGram. Garlinghouse confirmed that Ripple doesn't plan to acquire the whole company and upsetting its partners and competitors.  

"We don't want to be in a business of competing with our customers. We wanna partner with our customers."     

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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