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⚡Ripple in the heart of traditional Banking⚡
Ripple CEO Brad Garlinghouse has recently hinted at the possible adoption of XRP by US banks. In a recent video, Ben Armstrong, a prominent voice in the blockchain sector, stated that the adoption of XRP by US banks is poised to be “the key to XRP’s success.”
Ripple has been going through a difficult period for more than two years since the Securities and Exchange Commission (SEC) sued the platform in 2020. Regulators accused Ripple and its executives of allegedly raising “more than $1.3 billion through of an ongoing unregistered digital asset securities offering.”
Although Ripple foresaw global expansion and wider adoption, its legal challenges remained a severe obstacle in its path. However, in 2023, Judge Analisa Torres' landmark ruling classifying XRP as a non-security labeled it the only token with “legal clarity.” According to Ben Armstrong, Ripple's victory against the SEC hints that it is achieving its vision.
Armstrong went deeper revealing his transition with updates. It shed light on the “fatal flaw” in Ripple’s software that hindered banks’ adoption of XRP. Although many took advantage of Ripple's software for cross-border transactions, it never forced its users to hold XRP.
With Brad Garlinghouse solving the problem, Ripple introduced RippleNet and ODL (On-Demand Liquidity), replacing previous products. This innovation foresees broader adoption of the tokens as it requires holding XRP to use the Ripple blockchain. Armstrong described it as “XRP’s true value proposition.”
Armstrong believes that by Monday the community will hear news of broader adoption of XRP, as Garlinghouse hinted. He added that Ripple's CEO has done nothing to carry out the mission other than being “very strategic.”
Ripple CEO Brad Garlinghouse has recently hinted at the possible adoption of XRP by US banks. In a recent video, Ben Armstrong, a prominent voice in the blockchain sector, stated that the adoption of XRP by US banks is poised to be “the key to XRP’s success.”
Ripple has been going through a difficult period for more than two years since the Securities and Exchange Commission (SEC) sued the platform in 2020. Regulators accused Ripple and its executives of allegedly raising “more than $1.3 billion through of an ongoing unregistered digital asset securities offering.”
Although Ripple foresaw global expansion and wider adoption, its legal challenges remained a severe obstacle in its path. However, in 2023, Judge Analisa Torres' landmark ruling classifying XRP as a non-security labeled it the only token with “legal clarity.” According to Ben Armstrong, Ripple's victory against the SEC hints that it is achieving its vision.
Armstrong went deeper revealing his transition with updates. It shed light on the “fatal flaw” in Ripple’s software that hindered banks’ adoption of XRP. Although many took advantage of Ripple's software for cross-border transactions, it never forced its users to hold XRP.
With Brad Garlinghouse solving the problem, Ripple introduced RippleNet and ODL (On-Demand Liquidity), replacing previous products. This innovation foresees broader adoption of the tokens as it requires holding XRP to use the Ripple blockchain. Armstrong described it as “XRP’s true value proposition.”
Armstrong believes that by Monday the community will hear news of broader adoption of XRP, as Garlinghouse hinted. He added that Ripple's CEO has done nothing to carry out the mission other than being “very strategic.”
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