Huo Xing Cai Jing reports, according to Bitcoin.com, Ripple CEO Brad Garlinghouse noted that the Dutch Central Bank (DNB) spent several months relocating approximately 86 tons of gold from New York and Ottawa to London, involving an amount of about $11 billion. Of this, roughly 59 tons were moved through market transactions (sold in New York, bought in London), and more than 27 tons were physically transported. After this operation, DNB’s gold reserves in London increased from 18.1% to 32.1%, while its total reserves remained unchanged at 612.4 tons. Garlinghouse commented that cryptocurrency has evolved from a $1.5 billion experiment in 2013 into a $2.7 trillion asset class today, yet central banks still rely on value-transfer methods from the 1940s—“this is precisely the ideal use case for cryptocurrency: storing and transferring value globally instantly, securely, and at low cost.”
Ripple CEO Highlights $110 Billion Gold Transfer as Ideal Use Case for Crypto
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Summary
Ripple CEO Brad Garlinghouse cited the Netherlands Central Bank’s $110 billion gold transfer as a prime example of crypto’s potential. DNB moved 86 tons of gold—59 tons through market trades and 27 tons physically—to increase London reserves from 18.1% to 32.1%. Garlinghouse noted that while the debate over the dollar’s strength versus crypto continues, central banks still rely on outdated methods. He emphasized that crypto provides a modern solution for secure, low-cost value transfer, aligning with CFT goals.
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