An altcoin delisted from most major cryptocurrency exchanges has become a favorite of US investors. The data shows that a new fiat ramp solution is driving demand.
US investors collect from this delisted altcoin project
Despite the Ripple lawsuit currently pending with the SEC, XRP adoption among US investors is on the rise. Leading decentralized exchange OnXRP said that Ripple (XRP) is gaining increasing adoption, especially among US investors. According to the announcement made by the exchange today, a total of 1,329 US citizens have benefited from OnXRP’s fiat on-ramp solution. In doing so, they used credit cards and Apple Pay.
OnXRP stated that 2 million XRP was purchased through the on-ramp solution launched in collaboration with Banxa:
We passed 2 million XRP purchased through our on-ramp solution with Banxa. This corresponds to 1,329 US Citizens who can purchase with a credit card or ApplePay.
OnXRP comes to rescue US citizens in SEC lawsuit
OnXRP stated that XRP was a success, despite removing it from the list of most exchanges, including Coinbase. After the Ripple and SEC lawsuit that started in 2020, most exchanges removed XRP from their lists. As a result, the XRP price has reached historic lows.
These exchanges have taken strict measures to avoid being charged by the SEC for facilitating the transactions of XRP, which is considered a security by the SEC. The removal of XRP from US exchanges has affected the adoption of the cryptocurrency in various parts of the world, especially in the United States.
In response to this unfortunate development, OnXRP announced the launch of its on-ramp solution where US users can purchase XRP. The service was available in all US states except New York and Hawaii. According to the official announcement:
We offer our fiat ramp powered by @BanxaOfficial which you can find on our dex under “cash” or directly at https://dex.onxrp.com/onRamp. Global and US citizens (outside NY and Hawaii) can now easily buy XRP using Credit cards and Apple Pay, DEX announced in an announcement.
Commenting on the development at the time, Banxa said that everyone, including US-based residents, should have the opportunity to buy XRP. Meanwhile, the SEC and Ripple case entered the summary judgment stage, where there was bickering between the parties. cryptocoin.com As we have reported, US politician David Gokhshtein announced his support for Ripple.
Ripple opposes SEC’s request to seal expert witness identities in XRP lawsuit
Meanwhile, in the latest development from the lawsuit, Ripple submitted a response letter Monday to oppose the SEC’s request for sealing. We covered the details in this article.
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