Ripple CEO Brad Garlinghouse announced in a series of tweets that his company had its finest year to date despite the legal battle with the US Securities and Exchange Commission.
Proud to say it was @Ripple’s strongest year ever (XRP-based On-Demand Liquidity payments account for 25% of $ volume across RippleNet, and ODL txns are up 25x from Q3 2020, and 130% QoQ). 4/10 https://t.co/2V2ORfzTqm
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
Garlinghouse states that the XRP-powered On-Demand Liquidity solution currently accounts for one-fourth of the RippleNet network’s dollar-denominated volume. Since the third quarter of 2020, ODL transactions have increased 25-fold.
Ripple has also established new ODL channels in Japan and the United Arab Emirates. Furthermore, Bhutan and Palau have teamed with the distributed ledger technology company to assist countries in the introduction of their national digital currencies. Ripple announced the creation of a private version of the XRP Ledger built particularly for central banks in March.
Garlinghouse argues that the loss of “maximalism” is a good thing for the industry because it allows more individuals to engage.
Ripple was taken to court by the SEC exactly one year ago. Garlinghouse took aim at the dreaded regulator once more in his lengthy Twitter thread, stating that its lawsuit is an attack on the whole bitcoin business.
The Ripple CEO chastised SEC Chair Gary Gensler for declining to comment on the status of Ether. Garlinghouse has requested a level playing field once more, arguing that the second-largest cryptocurrency was able to exceed XRP due to regulatory clarity:
This industry should not be penalized for requesting regulatory clarity and regulation that is enforced consistently and on a level playing field.
Ripple presented its own regulatory framework in mid-November, arguing for the creation of crypto regulation sandboxes.