May 28, 2023

Brad Garlinghouse: Ripple would not be profitable without selling XRP

Ripple CEO Brad Garlinghouse admits XRP digital coin sales generate significant revenue share fintech companies, according to the Financial Times.

Without the sale of tokens, cash flow will be insufficient and Ripple will not be profitable, Garlinghouse noted.

“XRP is one of the sources. I do not know how to answer this. Take our income from software - it will make us less profitable. Same thing with XRP, " He added.

Moreover, in the second half of last yearthe company drastically reduced XRP sales. The fall in the fourth quarter was 80% compared to the previous period. Ripple CTO David Schwartz said in December that XRP's revenue is negligible compared to other sources of funding.

Garlinghouse also said that Ripple encourages companies to use its solutions based on “shape, size, type and importance.”

Earlier it became known that the cash serviceMoneyGram received a $ 11.3 million investment from Ripple during the second half of last year. In reporting, the company indicated that the funds received in XRP. MoneyGram uses Ripple's ODL solution and said it processes 10% of transfers between the US and Mexico with it.

Recall, continuing to expand its network of partners in the money transfer industry, Ripple in February entered into an agreement with International Money Express.