The Office of the Comptroller of the Currency (OCC) has explained that it is important for US banks to keep up with the latest advances in financial technology, as well as the growing needs of their clients to safely store digital assets. Brad Garlinghouse is very optimistic.
Crypto and fiat can live peacefully
It was with this context that Garlinghouse commented on the move, noting on his Twitter that now everyone will get a level playing field and the innovation process will accelerate.
Today's decision is a big step forward. @USOCC is an absolute leader in driving innovation, protecting consumers and ensuring a level playing field for all. We must not oppose cryptocurrency and fiat, these two forms of money must co-exist in harmony!
This position is shared by Stuart Alderoti, General Counsel of Ripple. He expects to accelerate the mass adoption of digital assets, as well as make it easier for cryptocurrencies to enter the world of traditional finance.
What are the benefits for Ripple
It should be noted that Brad Garlinghouse has long been calling for clarity on cryptocurrency regulation in the USA. This move by the OCC will allow Ripple to offer various payment solutions to USA banks in the United States, demonstrating the speed, efficiency and compatibility of the XRP ledger.
Meanwhile, Garlinghouse is a master of high-profile statements. Earlier, he compared Ripple to Amazon and stated that central banks will eventually approve XRP.