Ripple CEO Brad Garlinghouse responded to a jab from Emin Gün Sirer, who claimed that banks are using Avalanche technology rather than Ripple’s solution.
The lighthearted but pointed exchange unfolded on X after Sirer joked that banks are choosing Ripple. He quickly dismissed the statement as an April Fool’s joke and asserted that financial institutions actually rely on Avalanche instead.
However, Garlinghouse did not ignore the claim. Despite many observers describing the remark as a playful joke, he responded quickly.
Key Points
- Avalanche CEO Emin Gün Sirer dismisses claims that banks prefer Ripple, calling it an April Fool’s joke.
- He argues that financial institutions are instead adopting Avalanche’s technology.
- Ripple CEO Brad Garlinghouse responds, saying he was pleased Ripple remains top of mind for Sirer.
- Banks continue to use both Ripple and Avalanche for different purposes, including payments and real-world asset tokenization.
Ripple CEO Responds
Taking to X, Garlinghouse fired back with a brief remark, saying he was excited to know Ripple lives rent-free in his head, implying that Avalanche frequently thinks about Ripple.
For context, the phrase “living rent-free” commonly describes a situation where one party occupies another’s thoughts or attention without effort.
In this case, Garlinghouse used the phrase to suggest that Avalanche’s leadership often focuses on Ripple. In his view, that attention underscores Ripple’s continued influence in the race to provide blockchain infrastructure for financial institutions.
Banks Tap Avalanche’s Technology
Banks are increasingly leveraging both Ripple and Avalanche. In particular, Avalanche has advanced an enterprise-focused strategy built around customizable blockchain networks known as subnets.
These subnets allow institutions to create dedicated blockchain environments tailored to applications such as tokenization and financial infrastructure.
As a result, major financial players have begun testing Avalanche’s capabilities. For example, JPMorgan Chase has experimented with the network through its blockchain unit, Onyx, while Citigroup has explored tokenization initiatives on Avalanche infrastructure.
Ripple’s Prominence in the Banking Sector
Meanwhile, Ripple continues to strengthen its position in the banking sector, driven largely by its cross-border payments infrastructure on the $XRP Ledger. Through Ripple Payments, financial institutions can move funds internationally within seconds.
Specifically, the system enables banks to convert fiat currency into $XRP or Ripple’s stablecoin RLUSD, transfer it across the $XRP Ledger, and convert it into the destination currency almost instantly.
Moreover, Ripple reports that its cross-border payment network has processed over $1 billion in transactions, with adoption spanning several major institutions. Notable partners include SBI Holdings and Santander, alongside Brazilian banks such as Braza Bank and Banco Genial.
In addition, Ripple has strengthened its regulatory standing by securing conditional approval from the OCC for a national bank charter, which, if finalized, would allow it to operate within the U.S. banking system and offer regulated digital asset custody.
Despite the apparent rivalry, some observers suggest that Sirer’s remarks align with the crypto industry’s April Fool’s Day tradition, where leaders often share playful or exaggerated claims.
