SINGAPORE – Brad Garlinghouse, CEO of Crypto Company Ripple Labs, said he remains bullish at Stablecoins at XRP Ledger Apex, a Ripple (XRP) community conference in Singapore.
“The Circle IPO clearly worked very well. It reflects the interest of investors in crypto, both institutional and retail. The future of finance will be blockchain-based,” Garlinghouse said in Apex.
Garlinghouse said one factor in the success of Circle’s IPO is the fundamental belief in the market that the US stability law, a genius act, will be passed.
As Coindesk previously reported, the Genius Act, a Stablecoin regulatory bill, is sought to pass the Senate with bipartisan support, potentially moving to the House of Representatives and could become law by the August break.
“Regulation headwinds are now a tail windmill in the United States, which is good for the global landscape,” continued Garlinghouse. “We want not deregulation, we want clear regulations, and progress is clear.”
Other jurisdictions have recently passed stable laws such as Hong Kong. It is also said that the new South Korean administration is working on a stablecoin bill.
Garlinghouse declined to comment on the potential ripple merger or acquisition.
The Apex will continue in Singapore until Wednesday.