95% of Ripple’s customers are not from the US

[rakitzogi]

95% of Ripple’s customers are not from the US, CEO Garlinghouse says

Potential customers in the U.S. are apparently holding off from using Ripple’s XRP-related services due to regulatory uncertainty.

As Ripple reportedly prepares to relocate its headquarters outside of the United States, it turns out that only 5% of the company’s clients are based in the country, according to the firm’s CEO.

On Dec. 2, Ripple CEO Brad Garlinghouse sat for an interview with CNN anchor Julia Chatterley to discuss Ripple’s regulatory hurdles in operating in the U.S.

According to Garlinghouse, as much as 95% of the San Francisco-based company’s customers are located abroad. He claimed that Ripple’s services are not as popular in the U.S. due to the ongoing regulatory uncertainty around its associate token XRP

Garlinghouse noted that the SEC recognized other major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) as non-securities years ago. However, XRP, the third-largest cryptocurrency by market capitalization, still does not have that clarity

According to Garlinghouse, Ripple has had some issues with U.S. customers concerned about the regulatory status of Ripple’s XRP-related offerings.

“Oftentimes when I’m speaking to customers, talking to them about our product that uses XRP in the payment flows, they will ask me about regulatory dynamics, and we have had customers saying ‘Look, until there’s clarity and regulatory frameworks, we’re going to hold off,’” the CEO said, adding, “Now that has not been the case because of the clarity and the certainty” in other countries like the U.K.”

Previous comments by Garlinghouse would suggest that Ripple is gunning for the SEC to treat XRP much the same as it has Bitcoin or Ether, that is, by not classifying it as as security. Last month, he said, “It’s very hard to look at XRP as a security,” stating that he is “not aware of any market globally that thinks that XRP is a security.”

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