Ripple Hopeful About U.S. Business Opportunities
Ripple, the cross-border payment specialist, is optimistic about expanding its business in the U.S. following a significant ruling that clarified the status of its token, XRP. The ruling determined that XRP was not considered a security, providing a boost to Ripple’s potential customers. Stuart Alderoty, Ripple’s CLO, expressed hope that this decision would encourage financial institutions to explore Ripple’s solutions for real-world problems in moving value across borders.
Key Points:
- Ripple expects increased business opportunities in the U.S. following the ruling on XRP’s security status.
- The company specializes in cross-border payment solutions and offers liquidity for crypto-to-fiat and fiat-to-crypto transactions.
- Ripple has also developed a platform for central bank digital currencies (CBDCs) and stablecoins, partnering with the Republic of Palau for its CBDC issuance.
- Despite most of its revenue coming from international customers, a significant portion of Ripple’s workforce is based in the U.S.
- While XRP has been relisted by some U.S.-based exchanges, Ripple still needs to resolve its legal issues with the SEC regarding institutional sales.
Although Ripple has faced substantial costs due to its legal battle with the SEC, it remains positive about acquiring U.S. customers. Stuart Alderoty believes that this quarter will generate fruitful conversations and potentially lead to new business opportunities. The relisting of XRP on exchanges such as Coinbase further bolsters Ripple’s prospects. Despite the ongoing legal challenges, Ripple maintains a strong global customer base and expects continued growth in its U.S. operations.
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