Goldman Sachs Acknowledges Ripple’s XRP as Digital Currency

 

Cross-border payment facilitator and blockchain company Ripple seems unaffected by its lengthy ongoing case with the U.S. SEC. The company continued to grow with more users and astronomical gains.

Goldman Sachs has acknowledged Ripple as a high-profile and reliable payment service provider globally. The banking expert also mentioned the company’s native token, XRP. He stated that the token was a fully verified cryptocurrency with great potential. 

‘Ripple; An Opportunity in Payment’ – Goldman Sachs

Earlier, Banking and investment mogul Goldman Sachs alleged Ripple as an ‘opportunity in payment’. The banking expert released a report today, an overview of the blockchain and cryptocurrency industry. 

In the released report, Goldman Sachs banking and investment company stated that cross-border payment company Ripple is one of the best financial solution institutions. The company has established itself in all around 30 different countries and regions in the world. 

Shocking, popular crypto broker platform/company, Coinbase and P2P payment company Circle also affirmed the report made by the banking mogul. Ripple ODL (On-Demand-Liquidity) has been on high adoption and growth since its inception. 

The ODL service was built to provide financial payment services to SMEs, Fintech, and large multinational businesses. Payment transactions, remittances, and transfers of most leading tech companies in the United States use the platform’s payment-providing solution, ODL. 

Several companies located in different regions are partnering to make use of the service to facilitate easy payment. Some of these companies are high-profiled firms like; Tranglo and Pyypl. There are predictions that the positive review and affirmations from the three top companies will influence the payment provider platform acceptance and growth.

U.S. Security and Exchange Commission Under Criticism

The United States Security and Exchange Commission (SEC) has faced criticism from crypto enthusiasts and users following the recent court ruling. During a court session between Ripple and SEC, the commission was accused of power abuse against crypto companies using threat and enforcement.

However, the blockchain company filed a motion to authenticate all the public speech made by the regulatory body against its platform. Ripple lawyers alleged that the SEC official trampled on the company’s image.

The regulatory body released videos, articles, and blog posts that incited the public against involvement with Ripple’s XRP token. The SEC publicly declared the token as unregistered security without proper investigations.

Fortunately, the presiding Judge, Justice Netburn Sarah, approved of Ripple to question all video platforms and authenticate all comments and speeches by SEC officials. Although, the approval didn’t go down well with the SEC, who tried to discard the motion. 

Following the court ruling, the SEC has been criticized for its actions against ripple and other cryptocurrency companies. The case between the US crypto regulatory body and blockchain company has continued to amass interest from XRP community users and crypto enthusiasts. From the court sessions, Ripple’s win against the SEC seems likely and possible.

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