Garlinghouse said the company is still mainly focused on making XRP more useful and trusted.
Speaking to Fox Business at a recent conference in Miami, Ripple’s CEO praised the company’s progress over the past year, especially some of the high-end acquisitions, such as Hidden Road.
He also spoke about the growing role of stablecoins in the overall crypto industry, indicating that legacy financial services use them as their entry point.
Ripple’s Record Year and Q1
CryptoPotato reported in April last year that Ripple had agreed to acquire the prime brokerage giant Hidden Road for over $1.2 billion, in what was anticipated to be a game-changer for XRP. The deal was finalized later that year, and the platform was renamed Ripple Prime.
Weighing in on the overall market state and Ripple’s performance in these challenging times, Garlinghouse said the company he spearheads has been “on a tear.” In fact, he claimed that the prime brokerage has tripled its revenue rates since the initial announcement.
“Our business has been growing very quickly, we do care deeply about the health of the crypto markets overall, but to some degree, our technology is just a piece of our technology. And so, we made two big acquisitions last year, both for over $1 billion. Both have overperformed our expectations.”
The second acquisition he talked about was Ripple Treasury, which is “way ahead of our forecast for both the end of last year, but also in Q1, we are going to have a record quarter.”
Garlinghouse said that all of those developments and company growth are meant to make XRP as a digital asset “more useful, more trusted, with higher utility. That is our North Star.”
His comments come in a rather intriguing time for XRP, which is down by over 60% since its July 2025 all-time high, and is in the red YTD after losing the $1.40 support earlier this week.
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Stablecoins’ Growth
Ripple’s exec continued by linking stablecoins to the overall industry growth, as he believes the asset class is the entry point for TradFi to enter. In fact, he noted that Fortune 500 and 2,000 companies are exploring ways how they can have some sort of exposure.
He said people and businesses can make transfers in different currencies via the traditional options, but it could take 3-5 business days, and the fees are typically higher. With stablecoins, though, the transfer would be nearly instant at a fraction of the cost.
Garlinghouse added that outside businesses are showing “a ton of interest” in stablecoin solutions, as the asset class might be the “ChatGPT moment for crypto,” which these entities use to enter and explore before they go down further in the blockchain rabbit hole.
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