Ripple CEO Criticizes $11 Billion Gold Transfer

Ripple chief executive Brad Garlinghouse used the Dutch central bank’s recent gold relocation to highlight the continued reliance on legacy financial infrastructure.

Details of the gold transfer

The De Nederlandsche Bank moved roughly 86 tonnes of gold from New York and Ottawa to London between March and August. About 59 tonnes were sold in New York and repurchased in London, making the transaction largely a paper exercise. Only around 27 tonnes physically crossed the Atlantic.

As a result, New York’s share of Dutch reserves fell from 31.3 % to 18.5 %, while London’s share rose to 32.1 %. The bank holds a total of 612.4 tonnes of gold, valued at €72.2 billion at the end of 2025.

Garlinghouse’s comparison with crypto

Garlinghouse contrasted the gold move with the growth of the cryptocurrency sector, which he said expanded from a $1.5 billion experiment to a $2.7 trillion asset class over the past decade.

He noted that while banks still rely on correspondent banking queues and SWIFT for settlement, stablecoins can clear payments instantly. He also referenced a recent Bank for International Settlements prototype that anchored official statistics on the XRP Ledger in three to five seconds.

Central bank perspective

DNB Governor Olaf Sleijpen described the relocation as a crisis‑preparation measure aimed at improving the tradability of reserves, not a sign of distrust toward Washington.

He emphasized the need for structural security, including vaults, insurance, and legal finality—features that digital assets are still working to replicate.

Market reaction

Following the comments, XRP traded near $1.40, down 3.65 % on the day but up 21 % over three months.