In order to participate in the OTC derivatives market, Ripple joined the International Swaps and Derivatives Association.
Ripple Labs has recently joined the International Swaps and Derivatives Association (ISDA), a trade association representing market participants in the over-the-counter (OTC) derivatives market.
This puts Ripple in the company of well-known cryptocurrency firms like JP Morgan, Blackrock, Goldman Sachs, BNY Mellon, and the London Stock Exchange.
The ISDA includes various businesses, financial managers, and insurance firms actively engaging in the derivatives market. Algorand is also listed as a member of the Digital Assets category.
Ripple’s partnership with ISDA allows it to collaborate with nearly a thousand institutions from 79 countries. Additionally, Ripple has been dealing with legal challenges, particularly regarding classifying its XRP tokens as securities when sold to institutional investors.
However, a recent court decision brought some relief, as Judge Analisa Torres ruled that sales to ordinary buyers do not fall under securities regulations.
With this development, Ripple is resuming its interactions with partners and customers in the United States. Overall, Ripple’s membership in ISDA opens up new opportunities for the company and its involvement in the global derivatives market. It will be intriguing to see how this association unfolds and impacts Ripple’s future endeavors.
