- Ripple eyes US market resurgence through the acquisition of Standard Custody.
- Brad Garlinghouse confirms Ripple’s plan, emphasizing compliance and product enhancement.
- XRP’s potential surge awaits regulatory approval amid ongoing legal battles with SEC.
In a significant move, Ripple, the San Francisco-based crypto platform and primary distributor of XRP, is eyeing a comeback in the US market through the acquisition of New York-based digital asset platforms, Standard Custody and Trust Company.
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Ripple’s CEO, Brad Garlinghouse, confirmed the acquisition plans, expressing the company’s aim to enhance existing products, explore new use cases, and maintain full compliance through the collaboration with Standard Custody.
Ripple boasts previous achievements, including securing 40 US money transmitter licenses, a Major Payment Institution license from the Monetary Authority of Singapore, and a Virtual Assets Service Provider designation from the Central Bank of Ireland.
Despite this positive move, XRP remains embroiled in legal battles with the US Securities and Exchange Commission (SEC), accused of selling XRP as a security. Ripple’s latest acquisition is pending approval from the New York Department of Financial Services, adding a layer of uncertainty to the crypto platform’s plans. The legal dispute has stretched over three years, with recent favorable decisions for Ripple potentially impacting the outcome.
As the XRP community eagerly awaits regulatory approval and assesses the potential market impact, XRP is currently trading at $0.5243, showing a marginal 1% price decline in the last 24 hours, according to CoinGecko. The crypto space remains attentive to Ripple’s developments and the unfolding legal landscape, anticipating the potential resurgence of XRP in the crypto market.
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