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Ripple CEO in Talks with Georgia's Prime Minister on Crypto Adoption

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Tue, 05/24/2022 - 12:31
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Tomiwabold Olajide
Prime Minister reportedly invited CEO of Ripple to launch corporate service center in Georgia
Ripple CEO in Talks with Georgia's Prime Minister on Crypto Adoption
Cover image via www.freepik.com

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As stated on the official Twitter handle of the prime minister of Georgia (the country, not the U.S. state), Ripple CEO Brad Garlinghouse recently met with Prime Minister Irakli Garibashvili and Vice Prime Minister Levan Davitashvili during his visit to Davos.

According to the Georgia Online news website, the prime minister reportedly invited the CEO of Ripple to launch a corporate service center in Georgia, citing the country's favorable business terrain and stable political environment. Also, Georgia has been a forerunner in blockchain, having been the first country in the world to implement the technology in public services, particularly in the land registry process.

The full length of the meeting is yet to be disclosed by Ripple CEO Brad Garlinghouse, as a scroll through the Ripple boss's Twitter feed shows no information on this.

Ripple CEO speaks on crypto regulation

The Ripple CEO spoke on a panel regarding remittances and digital money at the World Economic Forum's (WEF) annual meeting in Davos, Switzerland, which formally opened on Tuesday.

Garlinghouse, speaking about the lack of regulatory certainty in the crypto sector, said that regulatory clarity is a problem that needs to be addressed and that the United States is trailing behind in establishing clear standards for the crypto industry. This comes as Ripple is currently facing a lawsuit from the United States Securities and Exchange Commission for the sale of its digital coin, XRP, in 2013.

Ripple just announced a $100 million investment to combat climate change, which is a positive step. The nine-figure investment will aid in the upgrading of the carbon credit market. Carbon markets allow businesses and individuals to trade carbon credits to offset CO2 emissions that some businesses cannot avoid. Ripple also says it will invest in a new feature that allows carbon credits to be tokenized.

In the previous week, Ripple announced a partnership with FINCI, a Lithuania-based online platform for worldwide money transfers, to create a new payment corridor between Europe and Mexico.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.