Ripple CEO Brad Garlinghouse recently said that US banks XRP He noted the potential for token adoption. Garlinghouse, who recently had an interview on Ben Armstrong’s channel, stated that US banks’ adoption of native tokens will be the “key key” to success.
Ripple has been going through a rough patch for over two years since the Securities and Exchange Commission (SEC) filed a lawsuit against the company and its native token XRP in 2020. Regulators had accused Ripple and its executives of “raising over $1.3 billion through an unregistered, ongoing digital asset securities offering.”
RippleDespite envisioning global expansion and wider adoption of the XRP token, it has frequently faced obstacles due to legal challenges. However, in 2023, Judge Analisa Torres’ landmark ruling classifying the token as a non-security marked a critical turning point in the case. According to Ben Armstrong, Ripple’s victory against the SEC hints that Ripple has achieved its vision.
Armstrong also touched on flaws in Ripple’s software that prevent banks from adopting XRP. According to the famous name, he stated that although banks use Ripple’s software in international payments, they do not buy tokens because they are not obliged to hold an XRP.
After CEO Brad Garlinghouse also resolved the issue, his company Ripple introduced RippleNet and ODL (On-Demand Liquidity) to replace the previous products. This innovation is predicted to pave the way for wider adoption of the tokens, as it requires holding XRP to use Ripple’s blockchain.
https://www.youtube.com/watch?v=m7xBv67r0PI