Ripple CEO Brad Garlinghouse has identified the lack of privacy features in the XRP Ledger (XRPL) as a significant obstacle to its adoption by financial institutions. In a discussion with a leading validator known as 'Vet,' Garlinghouse emphasized that privacy concerns are deterring banks from utilizing XRP, as they are hesitant to expose transaction hashes due to compliance and regulatory issues. To address these challenges, Ripple is developing privacy-enhancing features such as Credentials and decentralized identifiers (DIDs).