Ripple's Legal Win Paves Way for U.S. Banks to Embrace XRP Cryptocurrency

Ripple is optimistic that U.S. banks and financial institutions will show interest in adopting its XRP cryptocurrency for cross-border payments following a recent ruling that determined XRP itself is not necessarily a security. The San Francisco-based company plans to initiate talks with American financial firms about using its On-Demand Liquidity (ODL) product, which utilizes XRP for money transfers, in the third quarter. While the ruling was a partial victory for Ripple, as it stated that some sales of XRP did qualify as securities transactions, the company remains hopeful that the decision will encourage financial institutions to engage in conversations about utilizing its services.