However, Ripple is moving in a different direction. Garlinghouse said, “This is an industry that will finally be able to thrive in the United States, the world's largest economy," hinting at acquisitions to further increase its influence in the blockchain market.

Ripple CEO Brad Garlinghouse said Wednesday that the SEC is no longer pursuing its appeal in the case against the payments company.

Ripple CEO Brad Garlinghouse says the firm's dollar-pegged crypto asset will become a top stablecoin by the end of the year after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against the payments platform.