Ripple Eyes US Banking Sector For XRP Adoption After Landmark Court Decision
Portfolio Pulse from Murtuza Merchant
Ripple is optimistic that U.S. banks and financial institutions will adopt its XRP token for cross-border payments following a significant court ruling that the token is not necessarily a security. Ripple's general counsel, Stu Alderoty, revealed that the company plans to initiate discussions with American financial firms in Q3 about using its On-Demand Liquidity (ODL) product, which uses XRP for money transfers. The ruling partially disputes claims from the U.S. Securities and Exchange Commission against Ripple.
July 17, 2023 | 6:15 pm
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The court ruling that XRP is not necessarily a security could boost its adoption by U.S. banks and financial institutions for cross-border payments. This could potentially increase the demand and value of XRP in the short term.
The court ruling removes a significant regulatory hurdle for Ripple and its XRP token. This could make it more attractive for U.S. banks and financial institutions to adopt XRP for cross-border payments, which could increase the demand and value of XRP in the short term.
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