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Ripple CEO highlights Japan's focus on blockchain growth

Ripple CEO highlights Japan's focus on blockchain growth

GrafaGrafa2024/09/09 02:35
By:Mahathir Bayena

Ripple (CRYPTO:XRP) CEO Brad Garlinghouse has praised Japan's dedication to advancing blockchain and cryptocurrency technology following a meeting with Japanese lawmaker Taira Masaaki during XRP Community Day.

Garlinghouse commended Japan for its “clear frameworks and constructive policy” that foster innovation while ensuring consumer protection in the crypto sector.

His discussions with Taira, a Web3 and AI advocate in Japan’s House of Representatives, focused on leveraging blockchain to enhance the country’s technological capabilities.

XRP Community Day brought together influential figures from Japan’s political, financial, and business communities, underscoring the country’s increasing commitment to the crypto and blockchain space.

Garlinghouse emphasised that Japan's approach to crypto regulation serves as a model for other countries, balancing technological growth with necessary oversight to protect consumers and investors.

Taira Masaaki, in a statement translated from Japanese, mentioned that their discussions centered around "how to utilie blockchain to maximize Japan’s potential."

This dialogue aligns with Japan's broader efforts to explore and expand its capabilities in the evolving landscape of blockchain technology.

The meeting followed Garlinghouse’s press conference in Seoul, South Korea, where he criticised the stance of U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.

He pointed out that the court had ruled that XRP is not a security in itself, a decision that marked a significant victory for Ripple and the broader crypto industry.

Garlinghouse also expressed skepticism about Gensler’s continued leadership, stressing the importance of bipartisan tech policy ahead of the upcoming U.S. elections.

Ripple's strategy in Asia focuses on expanding its presence in markets like Korea and Japan.

According to Garlinghouse, most of the XRP held on exchanges globally is in these two countries.

Ripple is also exploring potential partnerships with Korean financial institutions, such as Hana and Shinhan banks, which could advance crypto custody services, depending on the regulatory landscape.

Ripple's expansion efforts in Japan and Korea reflect its strategy to strengthen its foothold in Asia, a region it views as crucial for future growth in the blockchain sector.

At press time, the XRP (XRP) price was $0.5294.

 

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