As Ripple reportedly prepares to relocate its headquarters exterior of the United States, information technology turns out that but 5% of the company'due south clients are based in the country, according to the firm'south CEO.

On Dec. ii, Ripple CEO Brad Garlinghouse sabbatum for an interview with CNN ballast Julia Chatterley to hash out Ripple's regulatory hurdles in operating in the U.S.

According to Garlinghouse, every bit much equally 95% of the San Francisco-based company's customers are located abroad. He claimed that Ripple'south services are not as popular in the U.Southward. due to the ongoing regulatory uncertainty around its associate token XRP, Garlinghouse said:

"95% of our customers are non-U.Southward. customers, and but most five% are hither in the U.Due south. And people say 'You are a U.S. company, [...] why is that?' One of the dynamics is that U.S. companies are waiting for clarity, and that clarity emanates from the Securities and Exchange Committee."

Garlinghouse noted that the SEC recognized other major cryptocurrencies similar Bitcoin (BTC) and Ether (ETH) as not-securities years ago. However, XRP, the third-largest cryptocurrency by marketplace capitalization, withal does not take that clarity:

"For us, effectually XRP and over 100 companies that are working with XRP getting that clarity, it's very clear to me that XRP is being used by many companies as a currency. You had the U.S. Department of Justice refer to XRP as a currency, you had FinCEN refer to XRP as a currency. But y'all oasis't yet had that clarity from the SEC."

According to Garlinghouse, Ripple has had some issues with U.South. customers concerned nigh the regulatory status of Ripple's XRP-related offerings.

"Oft when I'1000 speaking to customers, talking to them near our product that uses XRP in the payment flows, they will inquire me about regulatory dynamics, and nosotros accept had customers saying 'Look, until there's clarity and regulatory frameworks, nosotros're going to hold off,'" the CEO said, adding, "Now that has not been the case considering of the clarity and the certainty" in other countries like the U.One thousand."

Previous comments past Garlinghouse would suggest that Ripple is gunning for the SEC to treat XRP much the aforementioned every bit it has Bitcoin or Ether, that is, by non classifying information technology as equally security. Last calendar month, he said, "It's very hard to look at XRP as a security," stating that he is "not aware of any market place globally that thinks that XRP is a security."