Garlinghouse described the macro environment around digital asset custody as headed toward $10 trillion by the end of the decade. He argues that as the market grows, institutions will need secure storage, reliable transfer infrastructure, reliable on- and off-ramps, and tokenization capabilities. Ripple is building toward all of it.
In the clip, Garlinghouse named three pillars in Ripple’s strategy. The first was custody. The second was transfer infrastructure. The third was a tokenization engine, which includes work Ripple is doing around central bank digital currencies.
He recalled a telling moment from early in Ripple’s growth. A top-10 global bank, already a Ripple customer, approached the company asking whether Ripple could assist with custody. At the time, Ripple was not in a position to help. The acquisition of Metaco changed that.
Garlinghouse described the opportunity that followed as being able to go back to that same customer and offer “a best-in-class” custody product. That synergy is central to the pitch. Existing Ripple clients already trust the company for payment infrastructure. Adding custody to that relationship expands what Ripple can offer without requiring those clients to build separate relationships elsewhere.
Many market participants share this frustration, as Ripple seems to be advancing. However, XRP’s price is not reflecting these major developments.
One person asked whether price predictions from XRP Avenger had ever proven accurate. While there was no explicit target, analysts are facing more criticism because of XRP’s underperformance and their bullish stance on the asset.
XRP sits at the center of Ripple’s payment and liquidity operations. As Ripple’s product suite expands into custody and tokenization, XRP’s role in facilitating transfers across those systems becomes more relevant.
Although the video is old, Garlinghouse’s comments are still relevant today. A $10 trillion custody market does not move without settlement infrastructure. Ripple is building the infrastructure, and XRP provides the liquidity layer.