As Ripple prepares to move its headquarters outside the United States, Ripple’s CEO said only 5% of the company’s customers live in the country.

On December 2, Ripple CEO Brad Garlinghouse was interviewed by CNN broadcaster Julia Chatterley to discuss the regulatory hurdles Ripple faces in business in the United States.

According to Garlinghouse, up to 95% of the company’s San Francisco customers are foreign. Garlinghouse said he argued that Ripple’s services were not popular in the United States because of the ongoing uncertainty surrounding the associated XRP token:

“95% of our customers are customers outside the United States, and only about 5% are here in the United States, and people say, ‘You are an American company, […] Why is this? “One of the driving forces is that US companies expect clarity, and that clarity comes from the SEC.”
Garlinghouse noted that the Securities and Exchange Commission (SEC) recognized other major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) as non-securities a few years ago. However, XRP, the third largest cryptocurrency by market value, still lacks this clarity:

“For us with XRP, and over 100 XRP companies get this clarity, it is very clear to me that XRP is used by many companies as a currency. You got the US Department of Justice to refer to XRP as a currency, and FinCEN stated that XRP should be a currency. But you have not received that kind of clarity from the SEC yet. ”
Ripple has had some issues with U.S. customers who are concerned about regulatory status for XRP-related Ripple trade shows, Garlinghouse said.

When I talk to customers and talk to them about our product that uses XRP in our payment flows, they often ask me about organizational dynamics, and we have customers who say: ‘Make sure there is clarity and regulation. , we said – said the CEO – “Now it was not because of clarity and trust” in other countries like the UK. ”

Garlinghouse’s previous comments indicate that Ripple is committed to ensuring that the SEC handles XRP in the same way as it did with Bitcoin or Ether, that is, without classifying them as collateral. He said last month: “It is very difficult to look at XRP as a security, and notes that he” does not know any market in the world that believes in XRP as a security. “

Source: CoinTelegraph

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