Ripple’s general counsel Stu Alderoty expressed optimism that major financial institutions in the United States will begin exploring the use of XRP for international transactions.
For the cryptocurrency sector as a whole, last week’s settlement of the SEC’s case against Ripple’s XRP was a watershed moment.
As it became evident that Ripple’s native cryptocurrency XRP is no longer a security, exchanges like Coinbase, which delisted XRP following the SEC case, opted to list XRP one by one.
In an interview with CNBC, Ripple’s chief counsel Stu Alderoty expressed optimism that U.S. banks and other financial institutions would begin to demonstrate an interest in adopting XRP for cross-border payments while the victory of XRP is still being discussed.
Alderoty has announced that it would be discussing the adoption of Ripple’s On-Demand Liquidity (ODL) solution with US financial institutions in the third quarter.
“We hope that the Ripple court ruling will reassure current and prospective customers of financial institutions about the difficulties they have in doing business and resolving practical concerns related to the international transfer of value.
I’m anticipating a lot of interactions with U.S. clients this quarter, and I’m hoping those conversations bear fruit.”
According to Alderoty, most of Ripple’s business for the last two and a half years has come from outside the United States as a result of the company’s legal struggle with the SEC.
At this time, he claimed that Ripple’s present commercial activities would not be significantly impacted by the court’s finding that XRP will be regarded as security in corporate XRP transactions.
“I don’t believe this section of the judgement will have an impact on business for Ripple because most of their clients are located outside of the United States. We will analyse the court’s ruling in light of our customer’s requirements and take appropriate action.”
Also Read: Court Rules SEC Could Have Warned Coinbase Of Securities Law Violation Before Public Listing
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