Ripple CEO: 95% Customers Outside US, New Stablecoin Launch Soon

Seoul, South Korea - Ripple CEO Brad Garlinghouse said on Wednesday during Korea Blockchain Week that 95% of the company's customers are outside the United States. 

The firm recently won a case against the U.S. Securities and Exchange Commission (SEC), which determined that XRP is not a security.

Garlinghouse stated Ripple spent over $150 million defending itself against the SEC.

He noted that the global stablecoin market is currently valued at approximately $170 billion and is forecast to reach $2 trillion in the future.

The CEO revealed that Ripple is launching a new stablecoin called RLUSD, which is currently in private beta. 

He indicated a full launch would occur in "weeks, not months."

According to Garlinghouse, Ripple has invested "hundreds of millions of dollars" in other crypto projects. The company now employs nearly 1,000 people.

The CEO expressed optimism about the crypto industry's next five years, emphasizing the need for global regulatory clarity to unlock further growth and institutional adoption.