- Ripple reiterated the position of XRP as a pivotal bridge currency connecting digital assets to traditional fiat currencies.
- Ripple reaffirms XRP’s role within its On-Demand Liquidity (ODL) solution.
- XRP status to institutional clients for ODL services remains a contention in court.
The XRP community now believes the U.S. court ruling that Ripple’s sale of XRP to institutional investors represented a security contract is of less concern amid a recent disclosure. Specifically, the recent legal ruling confirming XRP as a digital asset has emboldened Ripple to reaffirm XRP’s role within its On-Demand Liquidity (ODL) service.
In a recent tweet, Ripple reiterated the position of XRP as a pivotal bridge currency connecting digital assets to traditional fiat currencies. Ripple underscored the significance of speed, cost-efficiency, and liquidity as driving factors behind its approach to cross-border payment solutions.
Furthermore, Ripple outlined XRP’s integral role in handling the challenges corporate entities engaged in cross-border transactions face. The report noted that businesses employing Ripple’s ODL solution leverage XRP as a bridge asset to facilitate transactions involving various fiat pairs.
However, a noteworthy point is that Ripple’s sale of XRP to institutional clients for ODL services continues to be a point of contention in the U.S. court. Meanwhile, a pro-XRP attorney, Bill Morgan, responded to Ripple’s recent update, shedding light on the pending legal case.
Morgan stated that institutions utilizing Ripple’s ODL after purchasing XRP did so to facilitate bridge currency transactions and other business motives. He pointed out that these institutions did not acquire XRP solely for speculative price appreciation.
Notably, the lawyer’s perspective contrasts with the U.S. regulators, who consider XRP’s role to resemble a security contract in the ODL realm.
Ultimately, the attorney expressed optimism about Ripple emerging victor in the appeal of the ongoing legal case. He rhetorically posed the question: “How can Ripple not appeal the finding XRP sales to ODL users are investment contracts.”
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