Ripple CEO Brad Garlinghouse, in a conversation with FOX Business, shared that banks and financial institutions are showing greater interest in Ripple and XRP after the SEC officially closed its investigation into the company.
One of the biggest reasons behind this renewed interest is Donald Trump’s recent shift in support of crypto. Since re-entering the political scene, he has introduced executive orders aimed at boosting the digital finance sector and establishing a Strategic Bitcoin Reserve.
These moves have revived optimism in the crypto world, reassuring both investors and financial institutions. Garlinghouse stated that, “Ripple is really amongst the very first crypto companies to get sued by the SEC.” He also added, “It took longer than we would have liked… more than $150 million of legal bills, but we’re thrilled with the ultimate outcome. It allows us to really unlock the US market.”
For years, Ripple has primarily operated outside the United States due to legal and regulatory obstacles. Around 95% of its customer base consists of financial institutions from other countries, including banking giants like HSBC and BBVA. With the SEC case behind them, Garlinghouse says there has been a noticeable shift, with American institutions now showing greater interest in Ripple’s blockchain solutions.
A key factor behind this surge in interest has been Donald Trump’s newfound support for crypto. Since stepping back into the political arena, Trump has rolled out executive orders designed to strengthen the digital finance industry and create a Strategic Bitcoin Reserve.
Garlinghouse pointed out that this policy shift has had a direct impact on Ripple’s business. “In the six weeks after President Trump was elected, we signed more deals in the United States than we had in the previous six months. These are very innovative technologies. I think they’re going to play out over 10, even 20 years in terms of how they integrate and rewire the financial infrastructure of the United States.”
The new policy direction is pushing banks and financial institutions to reconsider their stance on digital assets. For years, many were hesitant to engage with crypto due to legal uncertainties. Now, Garlinghouse says that sentiment is changing. “Those banks and financial institutions are leaning in now, and that’s a big deal—not just for Ripple, but for the whole industry.”
Trump, speaking at the Digital Asset Summit in New York, reinforced his belief that embracing digital assets could help strengthen the US dollar’s dominance. “You will unleash an explosion of economic growth, and with the dollar-backed stablecoins, you’ll help expand the dominance of the US dollar.”
However, Garlinghouse stressed that while executive orders are helpful, long-term progress will require legislative clarity. He praised lawmakers like Senator Cynthia Lummis and Congressman French Hill for pushing crypto-related bills, particularly those focused on stablecoins and market structure. “It can’t just be executive orders. It needs to be codified with legislative efforts by Congress,” he said.
With global payments still relying on outdated infrastructure like SWIFT, Garlinghouse sees blockchain as a transformative force. “The US is finally unlocked, and I think people are underestimating how big that change is.”
As Ripple moves forward, the company expects this regulatory clarity to fuel more adoption of blockchain-based financial services. “That will allow this innovation, allow more job creation, more innovation, and frankly capital formation here in the United States,” Garlinghouse concluded.
