- Jul 14, 2023
Stu Alderoty, the general counsel at Ripple, recently said he expects US financial institutions will show interest in using XRP for cross-border money transfers. Last week, Ripple secured a partial legal win against the US Securities and Exchange Commission (SEC) after a court ruled that XRP offerings on secondary markets were not security sales. Ripple Can Help Banks Solve Cross-Border Issues, General Counsel Says Ripple said it is confident that banks and other financial service providers in the US will begin adopting XRP in cross-border transactions, General Counsel Stu Alderoty told CNBC. The optimistic comments come after a US court delivered a landmark ruling last week, determining that XRP was not necessarily a security. The San Francisco-based blockchain solutions provider expects to open talks with US financial firms and offer them its On-Demand Liquidity (ODL) product in Q3 2023. Ripple’s ODL offering uses XRP as a native token for money transfers. “I think we’re hopeful that this decision would give financial institution customers or potential customers comfort to at least come in and start having the conversation about what problems they are experiencing in their business, real-world problems in terms of moving value across borders without incurring obscene fees.” – Alderoty said in an interview with CNBC. Alderoty also said he hopes that the new quarter will create many new conversations with US customers, “and hopefully some of those conversations will actually turn into real business.” he added. #bitcoinchina #cryptotraders #bitcoiner #cryptolifestyle #bitcoineurope #bitcoinusa #cryptoinvesting #cryptocurrencyinvestments #bitcointrade #poloniex #altcoins #cryptomarket #cardano #bitcoincash #cryptocoin #cryptomillionaire #cryptomoedas #bitcoinmoney #altcoindaily
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