Ripple's CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty recently had a private dinner with President-elect Donald Trump at Mar-a-Lago. This meeting is seen as a significant moment for Ripple as it aims to increase its influence in the U.S. market.
Ripple has experienced a surge in U.S. business activity, signing more deals in the final weeks of 2024 than in the previous six months combined. As a result, 75% of Ripple's open roles are now based in the U.S., indicating a strategic shift towards the domestic market.
President-elect Trump's interactions with the cryptocurrency sector suggest a change in his perspective, with a focus on integrating cryptocurrency into his administration's economic agenda. The appointments within Trump's cabinet also reflect a pro-crypto stance, potentially leading to transformative changes in U.S. crypto regulation and adoption.
Ripple plans to expand its RLUSD stablecoin to additional exchanges, reflecting confidence in its market potential. The company's payment business has doubled its transaction volume, driving the adoption of RLUSD. Ripple is optimistic about the approval of a spot-based XRP exchange-traded fund (ETF) and predicts an increase in applications and regulatory approvals within the year.
The evolving dynamics between Ripple and the Trump administration could have far-reaching implications for U.S. cryptocurrency regulation, potentially creating a more favorable regulatory environment and attracting more companies to establish a presence in the U.S. Collaboration between the crypto industry and government is crucial, and Ripple is likely to play a pivotal role in shaping the future of cryptocurrency regulation and adoption in the country.