Latest Crypto News: Ripple Confident Of US Banks Using XPR In Cross-Border Payments; BoA Trains New Hires In Metaverse To Deal With Robberies
Ripple, a blockchain start-up, is confident that US banks and other financial institutions will embrace the XRP cryptocurrency for their cross-border payments . This optimism follows a significant ruling that clarified the tokens' status as not necessarily being securities . The San Francisco-based company intends to initiate discussions with American financial firms in the third quarter to explore the utilization of its on-demand liquidity (ODL) product, which leverages XRP for money transfers, as reported by CNBC . XRP, currently the fifth largest cryptocurrency with a market capitalization of $37.8 billion, is utilized by Ripple for facilitating international money transfers . Over the past three years, the company has been engaged in a legal dispute with the US Securities and Exchange Commission (SEC), which accused Ripple and two of its executives of conducting an illicit offering worth $1.3 billion through XRP sales . Ripple, however , refuted these allegations and conte...