Ripple has had a busy few weeks, both in terms of business and legal disputes with the US Securities and Exchange Commission. The trial judge’s decision to allow Ripple’s partners to voice their opinions in court was only made public yesterday, and today Filipino I-Remit formally sent an extended amicus brief.
The new edition is a revised version of a stunning brief that the corporation released in late September. It details how the Filipino payments company employs Ripple technologies, such as RippleNet and ODL, and illustrates why XRP is not a security, contrary to what the American regulator alleges. I-assertions Remit’s in the submitted amicus brief regarding the SEC’s capacity to comprehend the cryptocurrency industry are of special significance. The former director of developers at Ripple, Matt Hamilton, commented on the I-Remit filed brief and noted that one fascinating result of these declarations is that they demonstrate the actual use of XRP by such businesses.
Ripple continues to build global relationships
Both the litigation and the market downturn have not prevented Ripple from consistently expanding. The network continued to expand, and its on-demand liquidity (ODL) was consistently shown to be thriving. The network has now opted to collaborate with two significant platforms in Sweden and France in an effort to increase its ODL business and European presence.
Crypto platforms have had their eyes on numerous European countries over the past few months. France has frequently been a popular option for exchanges. The XRP-firm collaborated with Lemonway, a payment business based in Paris, to introduce ODL services in France.
Jeremy Ricordeau, the Chief Operating Officer of Lemonway, remarked that the ODL solution from Ripple offers payment flexibility. He emphasized the network’s negation techniques and said,
“The traditional banking cut-off cycle and driving operational efficiencies which will allow us to free up funds to invest into our business while enhancing our customer offering.”
The SEC-troubled firm was launching its ODL service in additional countries along with France. With the help of the well-known Swedish money transfer company Xbaht, the network took a turn in Sweden. It should be highlighted that this platform facilitates the transfer of funds between Thailand and Sweden.
As a result of its most recent relationship with Ripple, Xbaht will provide “instant and cost-effective” retail remittances through ODL with Tranglo, the cross-border payment hub located in Singapore.