XRPL Apex: Monica Long Describes Regulatory Clarity As ‘Tipping Point’ For Ripple
Highlights
- Ripple President Monica Long stated that regulatory clarity is what feels different for her firm right now.
- She further described this as the tipping point in terms of how this has help Ripple expand further.
- Her comment came at the ongoing XRPL Apex event in Singapore.
Ripple President Monica Long was one of the speakers at Day One of the ongoing XRPL Apex conference in Singapore. During a panel discussion, she revealed the event that has provided a major breakthrough for her company as they look to advance in the payments sector.
Monica Long Comments On Tipping Point For Ripple
On Day 1 of the XRPL Apex event, Monica Long declared that regulatory clarity has been the tipping point for her company. This came following a question on what felt different for her firm and how they were supporting real adoption.
The Ripple president opined that it is regulatory clarity, “more than anything,” as to what feels different. She noted that it has taken a while to get here, but that things have never been better for sure.
Her comment comes amid the US move to create a comprehensive framework for the crypto industry. As CoinGape reported, the CLARITY Act just passed the Committee markup phase and will head to the House floor for a full debate. Thanks to the regulatory clarity brought about by Trump’s administration, the long-running XRP lawsuit, which has involved the crypto firm, is also coming to an end soon.
Long revealed how, before now, firms that understood the value proposition of payments and crypto custody were skeptical about working with Ripple because of the regulatory “overhang and cloudiness” about how the regulators were going to handle such transactions.
These firms opted against working with the crypto firm because they believed it wasn’t worth the risk. However, things have changed for the firm now, which has secured several partnerships since Trump came into office.
Ripple CEO Brad Garlinghouse revealed earlier in the year how his firm had signed more deals since Trump took office than in the six months preceding the president’s inauguration.
The latest of these deals includes the partnership with Guggenheim to launch Digital Commercial Paper on the XRP Ledger (XRPL). Meanwhile, Ondo Finance’s tokenized US Treasury fund, OUSG, just went live on the XRPL.
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