Ripple CEO Criticizes Bitcoin at IMF, Says XRP is the Future of Global Payments

The CEO of Ripple, Brad Garlinghouse, has become the focal point after a powerful speech in front of global financial leaders at the International Monetary Fund and the Swiss National Bank. According to a video shared by XRP Avengers on X, Garlinghouse made a direct criticism of the limitations of Bitcoin while positioning XRP as a faster, cheaper, and more scalable solution for cross-border transactions. According to Garlinghouse, Bitcoin was not designed to meet the growing demand for secure payments worldwide. He argues that the rushed money transfers and high fees make blockchain not truly useful for financial transactions around the world. He stated that XRP was created because developers understood the issues of Bitcoin and created an improved network. Garlinghouse noted that XRP processes payments 1,000 times faster and cheaper than Bitcoin, making it very suitable for today's financial world. Ripple's CEO Garlinghouse also discussed how Ripple wants to eliminate the need for companies to pre-fund accounts for cross-border payments. He pointed out that the current banking system uses nostro and vostro accounts, freezing funds and causing delays in money transfers, primarily for individuals and smaller groups. He stated that XRP can arrange liquidity almost instantly, eliminating those wait times and making money transfers smoother and faster. In this example, a freelancer in the Philippines working for a company in London struggles to receive timely payments due to system limitations. According to him, Ripple enables instant payments without the need for large transaction volumes. Garlinghouse outlines the vision for XRP as the core of global financial change. Garlinghouse compares Ripple's mission to the rise of early internet protocols like TCP/IP and HTTP, which standardized digital communication. He states that Ripple aims for a similar goal in value transfer by building an Internet of Value that allows money to move as easily as data. He explained that using the Ripple consensus protocol consumes less energy than Bitcoin's proof-of-work method. Since XRP is not mined, it can handle many more transactions and uses significantly less energy than Bitcoin. XRP community participants responded quickly, interpreting what Garlinghouse said as a signal that XRP is ready to lead the next phase of financial development. His comments at the IMF and the Swiss National Bank indicate that Ripple is focusing more on improving the global payment system. The strategy of placing XRP at the center of Ripple's financial transformation is strongly supported by Garlinghouse as he defends XRP and criticizes Bitcoin. That message sent to global financial companies is a significant milestone in Ripple's efforts to become a major player in the global payments sector.