- Latest News on SEC Legal Battle
- RippleUSD Stablecoin in Private Beta
- Ripple Partners with Japan's SBI Digital Asset Holdings
Ripple continues to take significant steps in developing its ecosystem. The RippleUSD stablecoin is currently being actively tested, and strategic partnership with Japan's SBI Digital Asset Holdings is being developed.
Latest News on SEC Legal Battle
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has substantial impact on the cryptocurrency market. Earlier this month, Judge Analisa Torres ruled in favor of Ripple, raising investor interest in whether the SEC might appeal this decision. Ripple's Chief Legal Officer, Stuart Alderoty, expressed optimism about the SEC's decision not to appeal the recent court ruling. Alderoty believes the chances of SEC successfully overturning the ruling are less than 10%, based on the historical trend of such appeals. He also emphasized that the court's decision confirmed that XRP is not a security in secondary market transactions.
RippleUSD Stablecoin in Private Beta
As reported earlier, Ripple's President Monica Long unveiled the highly anticipated RippleUSD stablecoin. This innovative stablecoin will not only coexist with XRP but will also 'complement' it, creating a synergy that will enhance both currencies. Ripple is currently actively testing RippleUSD in a private beta phase. Ripple's Senior Vice President of stablecoins highlighted the importance of the assets backing the stablecoin and noted that it is not yet publicly available for trading and awaits regulatory approval.
Ripple Partners with Japan's SBI Digital Asset Holdings
Ripple continues to strengthen its position in the cryptocurrency sector. Nearly 80% of Japanese banks already use Ripple, and the recent partnership with Japan's SBI Digital Asset Holdings, the cryptocurrency arm of SBI Holdings, highlights Ripple's ongoing development. This collaboration aims to enhance the use of XRP Ledger and ensure more secure and efficient transactions on the platform. It is important to note that this partnership has not yet significantly impacted the price of XRP, which at the time of writing stands at $0.6007, showing a 4.09% increase in the last 24 hours.
Ripple continues to take active steps in the cryptocurrency market by testing new products and developing strategic partnerships. These moves demonstrate the company's intention to strengthen its position and offer new opportunities for users and partners.
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