Even though Ripple is presently experiencing difficulties from the $1.3 billion of lawsuit from the United States Securities and Exchange Commission (SEC), the San Francisco-dependent blockchain tech payments organization is nevertheless building development in its organization and is functioning its things to do with no going through any hindrance. Reportedly, the business has produced new contracts with distinctive banking institutions more than the latest situations.
The lawsuit battle between Ripple and the US SEC is nonetheless lively, and apparently, there no likelihood of settlement concerning these two entities as effectively. But this lawsuit battle with the SEC does not appear to be hindering the business functions of Ripple as the blockchain payments organization is effectively producing new developments in its ecosystem.
In an interview with Reuters, the Main Executive Officer (CEO) of Ripple Brad Garlinghouse revealed that the organization has so far made all-around 15 new contracts with diverse banking establishments from across the total environment. It has created a whole of these contracts considering the fact that the working day when it was struck with a lawsuit from the US impartial agency SEC.
Furthermore, the CEO of the firm also reported that the lawsuit has also not hindered their expansion plans in Asia as they are constantly doing work on their strategy to extend their business across the Asia Pacific. He claimed that the company receives a positive reaction from the regulatory authorities of the international locations from this area.
In his assertion, Brad Garlinghouse explained that they have presently regulatory clarity in the markets of Asia and Japan and that they have managed to set up their organization about there as he mentioned:
“We have been able to carry on to develop the organization in Asia and Japan mainly because we have had regulatory clarity in those people markets.”
Even though the SEC lawsuit is not affecting the enterprise of Ripple in the market place of Asia or Japan, it has harmed the firm a whole lot in the United States (US).
What’s more, the company has claimed that thanks to the actions of the SEC’s lawsuit, the holders of XRP had to confront a decline of $15 billion in cash.