- Ripple hopes the recent court decision will inspire US banks to use its ODL.
- XRP currently uses ODL for its first cross-border transactions.
- SEC’s former attorney John Reed Stark says the court decision could be short-lived.
Blockchain company Ripple believes its latest victory will draw U.S-based banks and institutions to the company. In an interview with CNBC, Ripple’s general counsel Stuart Alderoty mentioned that the firm plans to start talks with these companies in using its On-Demand Liquidity (ODL) to achieve faster cross-border transactions.
ODL, which XRP uses for transfers, makes instant transfer and receipt of funds possible. Alderoty further stated that the company hopes the court decision would make it easier for potential institutional investors and customers to comfortably interact with the company.
In a legal battle that lasted 3 years, Ripple last week secured a partial victory against the US Securities and Exchange Commission. Judge Analisa Torres ruled that XRP itself is “not necessarily a security on its face.” Instead, the court ruled that the token will be deemed a security when offered to institutional investors in the U.S.
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