Ripple Will Talk to Banks to Push the Use of XRP for Settlements
Now that Ripple’s native cryptocurrency XRP doesn’t have the tag of a ‘security’, the company is confident that U.S. banks and other financial institutions will start showing interest in the adoption of XRP for cross-border payments. advertisement In an interview with CNBC last week, Ripple’s general counsel, Stu Alderoty said that Ripple plans to engage in discussions with US financial firms in the third quarter regarding the use of its On-Demand Liquidity (ODL) product. This product utilizes XRP for efficient money transfers. When asked if the ruling would lead American banks to resume using Ripple ’s ODL product, Alderoty responded affirmatively, stating “I think the answer to that is yes”. He further added: “I think we’re hopeful that this decision would give financial institution customers or potential customers comfort to at least come in and start having the conversation about what problems they a...