About Brooks Entwistle
Brooks Entwistle, Senior Vice President and Managing Director at Ripple, has continued to promote the company's cross-border payment network and its use of the digital asset XRP. In 2024, he discussed the workflow between XRP and Ripple's planned stablecoin, describing stablecoins as an on-ramp or off-ramp onto the platform and stating that the more on-ramps available, the better for volume and adoption. He also addressed concerns about XRP's volatility in on-demand liquidity (ODL) transactions, arguing that settlement within seconds makes the volatility risk demonstrably lower than the risk of holding fiat currency over a multi-day period.
Entwistle has emphasized Ripple's focus on real-world utility, including its core cross-border payments business, central bank digital currency (CBDC) efforts, and carbon-credit initiatives. He noted that Ripple's two largest regions are the Middle East and Asia, and that over 60% of the company's volume came from ODL using XRP. He also stated that Ripple has moved over $30 billion in volume through its network and that the company continued to hire internationally, adding 300 people in 2022. Regarding regulation, Entwistle said that any regulation moving toward consumer protection is a good thing and that Ripple prefers to engage and educate regulators, though he acknowledged that the U.S. market has been more difficult for direct dialogue.
Source: AI-verified profile updated from Brooks Entwistle's recent appearances.
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Transcript (3 segments)
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Interviewer0:11
Because, of course, some people, a lot of people actually, benefited from XRP getting the prices, the value being higher. So how would you address that, and do you have any plans of possibly using a stable coin in the future for the transactions?
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Brooks Entwistle0:34
Great, two great questions. Let me take them in that order. They're related but have different answers, and I'll link them together. First, remember one of the things we're able to do on the ledger with ODL is to be able to settle within seconds, and the volatility within those seconds happens between currencies over a period of multiple days. So we actually believe that it's a tenth, in some cases, of the risk of some of those longer-dated remittance transactions as far as currency risks. But we're focused on it. That really is the core answer: the absolute split-second, a couple of seconds, that the transaction takes. Crypto is volatile, your point is well taken, and I would never argue otherwise. That will be a feature of these digital assets as use cases are figured out and developed over time. We firmly believe, and one of the things about XRP is that it was developed in the early days, and one of the key use cases and ideas early on was... these are important questions and things we've been thinking about for a long time. On stable coins, they do play an important role here. It's not something we're focused on right now as Ripple, but think about them as an off-ramp or on-ramp onto the platform for anybody getting into cryptocurrencies. The more on-ramps we have, from fiat into a stable coin, stable coin into a cryptocurrency, to a pure digital asset, that is a good thing from a volume and adoption standpoint. So we're watching it closely. Obviously, the question for all these is what are they backed by and how stable are they at the end of the day. And in the cryptocurrency space, because we're doing that, not just developing use cases and building them, we have to be thinking about current innovations that are coming as well. That's one of the beautiful things I talked about earlier about the RippleX side of the company. We're talking about this and thinking about this all the time, and these will develop. Look back to the first part of this year. Think about the number of people on your show that I'm sure, although you have an audience who is deeply technologically savvy, so people were probably focused on NFTs earlier than a lot of folks around the world. But if you think about that concept, or central bank digital currencies, or some of the things that are now just part of the lexicon, it's amazing this is this year. So I'm confident there's...
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Interviewer3:54
I'm confident there's...
