Ripple’s Chief Legal Officer Explains Reason for Absence Of XRP In The Liquidity Hub ⋆ ZyCrypto
Blockchain company Ripple has clarified its decision to omit its native cryptocurrency XRP from a liquidity hub put in place to bridge the gap between cryptocurrencies and fiat. Ripple has included Bitcoin, Ethereum, Litecoin, Ethereum Classic, USDC and BCH in the program, designed for enterprise customers rather than retail investors. Ripple’s Chief Legal Officer, Stuart Alderoty, said the aim of the liquidity hub was to provide access to all types of cryptocurrency liquidity, not just XRP, saying “we’re here to serve customer demands”. Alderoty explained that XRP lacked liquidity in the US and that Ripple was keen to provide XRP support when it could offer a good customer experience. He also pointed to XRP’s lack of regulatory clarity in the US as a major challenge, as the cryptocurrency’s status as a security rather than a commodity has been a point of contention in recent trials with the US Securities and Exchange Commission (SEC). Ripple’s sales of XRP are all to On-Demand-Liquidity (ODL) customers, according to Alderoty.
#Ripples #Chief #Legal #Officer #Explains #Reason #Absence #XRP #Liquidity #Hub #ZyCrypto