Asheesh Birla, Managing Director of RippleNet at FinTech firm Ripple, discussed the future of Ripple and XRP in cross-border payments in a recent interview. Birla reassures her by emphasizing that despite the SEC litigation, their goals are huge.
Ripple has bigger plans to replace SWIFT
Alternative payment systems like Ripple are increasingly being launched alongside established market players like SWIFT. On the other hand, Ripple claims that it has bigger goals than a replacement for SWIFT. Asheesh Birla, head of the company’s RippleNet product and system, said in an interview with news outlet TruthDAO:
I think we have bigger goals than replacing SWIFT. So remember, there are two components to moving money internationally. There is a messaging component, but then you actually have to move the money. That’s not what SWIFT does. SWIFT only does messaging…
on SEC lawsuit
Asheesh Birla, in part of the interview, stated that the SEC lawsuit will not hinder Ripple’s goals. The Ripple and SEC lawsuit began in late 2020 with a complaint from the SEC that Ripple carried out an illegal security offering of the XRP token. After this lawsuit, XRP was delisted on some major exchanges such as Coinbase. Birla says that despite the difficulty of the legal process, the SEC is just a “bump” in this path:
The entire crypto market is looking at this case. I think this isn’t just important to Ripple… In terms of how it impacts us, we’re seeing record growth in our business, and the division I run, which provides enterprise crypto solutions for financial institutions and corporations, is doing really well on RippleNet… We’ve been doing this for a long time, and these little bumps in the road have kept us from our target. will not deter.
Comments on litigation:
As of now, the prevailing calendar has set a timetable and when we’ll see something in terms of a summary judgment at the earliest … will be the beginning of 2023. So, we have a schedule. I think this is good news. I think the judge is doing his job of running the case. Lots of little wars going on day after day, I think we got ahead in some of those wars… but at least we got some clarity that things will end in 2023, at least from his point of view…
Current developments and important news from the Ripple-SEC case. We have discussed the dates in this article as Kriptokoin.com.
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