The blogger named the reasons why American banks did not integrate XRP
Ripple CEO Brad Garlinghouse has hinted at possible adoption of XRP by US banks in the future. Recently, Ben Armstrong, a well-known voice in the blockchain industry, said that the adoption of this token by American banks could be “the key to the success of XRP.”
Difficult times for Ripple began in 2020, when the US Securities and Exchange Commission (SEC) sued the company. Regulators accused Ripple and its executives of allegedly raising “more than $1.3 billion through an unregistered offering of tokenized securities.”
Ripple initially planned to achieve greater adoption of XRP, and litigation has become a major obstacle to achieving these goals. In 2023, a New York court ruled that XRP is not a security, making it the only token with a defined legal status. According to Ben Armstrong, Ripple's victory over the SEC indicates that they are one step closer to realizing their vision.
