Brad Garlinghouse advocates for crypto reserve inclusivity and says such a reserve should include XRP, Bitcoin, and Ethereum.

He wrote in an X post, “We have a real shot right now to achieve our goals IF we collaborate instead of undermining each other.” He further demonstrated his support for multichain by revealing his holdings of XRP, BTC, and ETH.

Ripple actively works with regulators to establish a clear framework for XRP’s inclusion in a digital asset reserve. Garlinghouse argues that this reserve should benefit the entire crypto ecosystem, not just a single cryptocurrency.

Garlinghouse’s vision aligns with the growing recognition that a diversified digital asset landscape is crucial for long-term sustainability. A multichain future allows for specialization and innovation, leading to a more robust and resilient overall ecosystem.

Brad Garlinghouse Faces Criticism

However, this vision faces significant opposition from Bitcoin maximalists. Figures such as Pierre Rochard, VP of Riot Platforms, and Ryan Selkis, founder of Messari, openly criticize Ripple’s lobbying efforts, arguing that only Bitcoin’s decentralized and scarce nature makes it suitable for inclusion in a national reserve.

Arizona’s recent move to consider a Bitcoin-focused state reserve exemplifies the ongoing tension between maximalist and multichain approaches. While proponents highlight Bitcoin’s scarcity and decentralization, this approach risks excluding the benefits offered by other cryptocurrencies and potentially stifles innovation.

Notably, XRP has experienced significant price fluctuations recently, surging to $3.13 with a 24-hour trading volume of $11,019,098,937 and an increase of 10.58% in the last 24 hours despite market volatility.

the increased trading volume suggests persistent interest and market activity. The ongoing debate surrounding the role of various cryptocurrencies in governmental reserves will inevitably influence these market trends.

Ripple gains key US licenses

Ripple has recently obtained two new US money transmitter licenses (MLTs), enabling more customers to utilize its licensed cross-border payment solution. The licenses cover New York and Texas; Ripple reports significant demand for its real-time global payment solutions from banks and crypto businesses in both states.

Ripple now holds over 55 global money transmitter licenses, including 33 in US states, following this acquisition. They have also received over 60 regulatory approvals worldwide.

In addition to the MLTs, Ripple possesses a New York BitLicense. Other licenses include a Major Payment Institution License in Singapore, a Virtual Asset Service Provider registration in Ireland and the Cayman Islands, and an in-principle license from the Dubai Financial Services Authority.