ChainCatcher report, 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 cryptocurrencies have 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 cryptocurrencies: storing and transferring value globally instantly, securely, and at low cost.”
Ripple CEO Highlights DNB's $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 spent months moving 86 tons of gold from New York and Ottawa to London, with 59 tons traded and 27 tons physically shipped. The shift raised London’s share of DNB’s gold reserves to 32.1%. Garlinghouse noted that crypto has grown from a $15 billion experiment in 2013 to a $2.7 trillion asset class, contrasting with outdated 1940s methods used by central banks. He emphasized that crypto enables fast, secure, and low-cost value transfer, aligning with CFT goals. As the strength of the dollar versus crypto remains a key debate, Garlinghouse views digital assets as a modern solution for global finance.
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