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Ripple CEO Hails GENIUS Act as Historic Milestone for US Fintech
By Jeff Taylor
July 18th, 2025
In a significant move, the U.S. Senate has passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which provides much-needed regulatory clarity for fintech companies like Ripple. The implications of this development are far-reaching, positioning Ripple as a key player in the stablecoin and cross-border payments space.
Ripple CEO Brad Garlinghouse has hailed the GENIUS Act as a historic milestone for US Fintech, stating that it marks a major step forward in providing regulatory certainty. In his statement, Garlinghouse emphasized that this clarity is crucial for fintech companies like Ripple to operate within the existing financial system.
The GENIUS Act sets strict standards for stablecoin issuers such as Ripple. Key provisions of the legislation include:
1. A 1:1 reserve backing with U.S. dollars or Treasury bills,
2. Monthly transparency reports and annual audits, and
3. Only regulated financial institutions can issue dollar-backed stablecoins.
Ripple’s RLUSD, launched in 2024, already meets these requirements, giving it a significant competitive advantage over other stablecoin issuers. Moreover, the company holds over 50 money licenses and collaborates with reputable financial institutions like BNY Mellon, positioning it for success under the new regulatory framework.
The Act also paves the way for Ripple to apply for a national bank charter and a Fed master account, enabling it to hold reserves directly with the U.S. central bank. This move will further integrate Ripple into the traditional banking system.
This development has significant implications for XRP’s market price. The passage of the GENIUS Act could lead many institutions to choose XRP as their go-to cryptocurrency for cross-border payments, given its compatibility with the new regulations. It is worth noting that XRP has been on a tear lately, surging 13.43% in the past day and a staggering 39.01% over the past week.
Analysts predict that if the GENIUS Act passes into law, XRP’s price could potentially rise to $4-$7 by year’s end, driven by increased demand for institutional use cases.
Source: www.crypto-news-flash.com
