Ripple is confident U.S. banks will want to use its XRP cryptocurrency for cross-border transactions after a judge gave it a partial victory over the SEC.
Ripple is confident that U.S. banks will start wanting to use its XRP cryptocurrency for cross-border transactions after a judge gave the firm a partial victory in its fight against the SEC, General Counsel Stu Alderoty told CNBC.
In this photo illustration, a visual representation of the digital Cryptocurrency Ripple is displayed on January 30, 2018 in Paris, France.Blockchain startup Ripple is confident U.S. banks and other financial institutions in the country will start showing interest in adopting itscryptocurrency in cross-border payments after a landmark ruling determined the token was not, in itself, necessarily a security.
Ripple's business suffered as a result, with the company losing at least one customer and investor. MoneyGram, the U.S. money transfer giant,Meanwhile, Tetragon, a U.K.-based investor that previously backed Ripple, sold its stake back to Ripple after unsuccessfully trying to sue the company to redeem its cash.
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