Hope for American banks as customers: Ripple (XRP) receives green light for US business according to the court judgment against Sec

Ripple (XRP) achieved an important victory in the trial against the US stock exchange supervision SEC last week. This means that Ripple now has the green light for the use of XRP in the USA and can therefore be active again in the US business. The decision has created a good atmosphere at Ripple and the company now focuses on American banks as potential customers for XRP. Stuart Alderoty, Chief Legal Officer at Ripple, commented in an interview with CNBC on the future of XRP. He emphasized that Ripple is now hoping to use US banks about the use of XRP as a bridge currency ...

18. Juli 2023

Krypto News Österreich

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ripple (XRP) achieved an important victory last week by a court ruling in the trial of the US stock exchange supervision SEC. This means that Ripple now has the green light for the use of XRP in the USA and can therefore be active again in the US business. The decision has created a good atmosphere at Ripple and the company now focuses on American banks as potential customers for XRP.

Stuart Alderoty, Chief Legal Officer at Ripple, commented in an interview with CNBC on the future of XRP. He emphasized that Ripple is now hoping to talk to US banks about the use of XRP as a bridge currency. Alderoty hopes that these conversations will lead to real business. He also referred to the advantages of the Ripple program on-demand Liquidity (ODL), in which XRP is used for quick and inexpensive cross-border transactions. Alderoty criticized the high fees in international transfers and emphasized that ODL offers a cheaper alternative. An XRP transfer costs less than $ 1, while in classic banking transfers it is often ten times or even more fees.

Last year Ripple CEO Brad Garlinghouse expressed a positive statement about Odl and mentioned the Bank of America as possible XRP customers. Now Ripple wants to strengthen his efforts to use XRP in the USA. Especially for guest workers and immigrants who regularly transfer money to their home countries, the use of ODL and XRP could be an attractive option, as this can avoid high fees.

In the last quarters, Ripple operated more than 90 percent of his business outside the United States, since XRP was to be put under regulation by the Sec. But the court ruling has now created clarity and Ripple has the chance to win US customers again.

FAZIT: Ripple and XRP want to register on the US market after they have been exposed to the SEC for a long time due to legal uncertainties. With the judgment in the back, Ripple is confident that they can now win American banks as customers for XRP. The inexpensive and fast transactions with XRP could be attractive, especially for people who regularly transfer money to their home countries. Ripple will now strengthen his marketing efforts to establish XRP on the US market.