Brad Garlinghouse Makes It Clear: XRP Isn’t about Who Holds It, It’s about

In the swiftly evolving realm of digital finance, the nature of value is shifting. Rather than focusing on who holds a token, the conversation is increasingly about what it connects. That perspective frames XRP not simply as a speculative asset, but as a piece of digital infrastructure capable of linking global value flows.

According to Brad Garlinghouse, there’s a “fundamental difference between speculation and infrastructure” — a distinction that underscores the evolving role of crypto-assets in the real world.

Clarifying the Role of XRP Versus Ripple

“People say things like, ‘XRP has a CEO.’ I’m like, who is it?” Garlinghouse asked during remarks reported by Versan Aljarrah, founder of Black Swan Capitalist. He continued: “Ripple has a CEO — that’s me. There are scores, if not a hundred other CEOs, building around the XRP ecosystem.” The message is clear: while Ripple uses XRP in its product stack, it does not own or govern it in isolation.

Open-Source Governance and the XRPL

The governance model underlying the XRP Ledger (XRPL) reinforces that separation. Protocol amendments only activate once a supermajority of participants endorse them.

Garlinghouse cited this threshold when he stated: “There have been amendments passed to the XRP open source technology that we opposed — and they still passed. That’s okay. That’s open source technology.”

In other words, Ripple’s preferences don’t dictate ledger evolution; the community does. That dynamic underpins the argument that XRP functions as infrastructure, not a corporate-controlled asset.

Why Connection Matters More Than Ownership

If the long-term value of crypto is tied to what it enables, then XRP’s architecture sets it apart. Garlinghouse first noted this when emphasizing utility over control: “We use XRP in our product stack, but there are scores of other companies building in and around the XRP ecosystem.”

As Aljarrah highlighted in his post, the narrative shifts from “who holds it” to “what it connects.” In global finance, value is realized through volume, throughput, and reach — not simply token scarcity or distribution.

Implications for Investors and Builders

For investors, this recalibration implies a different lens: assess not just token supply or short-term momentum, but the network’s ability to facilitate cross-border value transfer, interoperability, and institutional adoption.

For developers and institutions, the focus shifts to creating services that integrate with XRPL’s infrastructure and enhance liquidity, rather than solely pursuing token accumulation.

Final Thoughts

Versan Aljarrah’s coverage of Garlinghouse’s remarks serves as a timely reminder that in the world of digital assets, infrastructure wins often look subtle.

The story of XRP is less about ownership and more about connectivity — about a protocol working as the backbone of global value exchange. In that context, understanding “what it connects” becomes far more important than “whose token it is.”