Ripple CEO Brad Garlinghouse has recently raised eyebrows when he talked about the possibility of adding such digital assets as XRP, Solana (SOL), or USDC to the US-backed strategic reserves.
In his speech at the CfC St. Moritz conference, Garlinghouse noted that more central banks are considering using cryptocurrencies for reserves, thanks to improved regulation.
Garlinghouse also pointed out that the new regulatory approaches in the United States may lead to the creation of state-controlled reserves with Ripple’s XRP. Sources claim that the new reserves are to focus on digital assets such as XRP and Solana created within the country to improve financial stability and advance blockchain technology.
Further evidence was provided by BlackRock Managing Director Joseph Chalom who disclosed at the conference that institutional investors are increasingly investing in cryptocurrencies.
BlackRock, which a year ago had no exposure to crypto, now oversees $61bn in Bitcoin, Ether and tokenized products. Chalom underlined the need for safe and reliable opportunities for cryptocurrency openness, which corresponds to the concept of a strategic reserve.
Places like Texas and Oklahoma are already starting to do this, with Texas even proposing a Bitcoin Strategic Reserve through Senator Angela Paxton’s SB 778 bill. On a federal level, there are some rumors that the Trump administration may develop a national crypto reserve with XRP, SOL, and USDC.
Garlinghouse was positive about XRP’s function in these initiatives and affirmed that it is scalable and law-abiding. When the United States is striving to retain its blockchain leadership, the idea of the strategic crypto reserves can be considered as a breakthrough.
Also Read: Donald Trump to Consider XRP, Solana, USDC for Strategic Reserves
