The post Ripple’s New Liquidity Hub Supports Major Cryptos, But XRP Excluded! What’s Going On? appeared first on Coinpedia Fintech News
Blockchain firm Ripple has launched a new liquidity product for businesses, called Liquidity Hub, aimed at reducing the gap between crypto and fiat. The platform currently supports several major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic, but interestingly, it does not support Ripple’s native token, XRP.
The exclusion of XRP has raised eyebrows among the Ripple community, with some speculating that it may be due to the ongoing court case between Ripple and the Securities and Exchange Commission (SEC). The SEC has accused Ripple of raising $1.3 billion through an unregistered security offering by selling XRP to investors, and Ripple’s legal dispute with the regulator has been ongoing since 2020.
Ripple Speaks Out
In an announcement, Ripple clarified that XRP will be evaluated along with other tokens for support within the product. The company explained that it wants to offer a wide range of assets to its customers and XRP will be considered for inclusion as regulatory clarity in the US is achieved.
“XRP will be evaluated along with other tokens for support within the product. We look forward to supporting XRP as it receives regulatory clarity in the U.S.”
John Deaton Supports Ripple’s Stand
Ripple’s $100 million investment in the legal battle shows how strongly they believe in the token. But as Deaton points out, it’s not just about how Ripple perceives XRP. Other companies, especially US publicly traded companies, may hesitate to invest in or support XRP due to regulatory uncertainty. This is a major concern for XRP holders and the wider crypto community. Hopefully, as Ripple’s legal battle with the SEC progresses and regulatory clarity is achieved, more companies will feel comfortable supporting XRP.
Ripple’s CLO is hopeful for a positive outcome
In a recent tweet, Ripple’s Chief Legal Officer suggested that the SEC’s recent loss in the Supreme Court case SEC v Cochran on April 14, 2023, shows the regulator’s weak track record in legal battles. This statement indirectly hints that Ripple is confident in its own legal battle with the SEC and hopes to achieve a favourable outcome.
- Mobile app
- Telegram Channel
- Telegram Group
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks