Despite the fact that Ripple’s legal battle with the SEC has had a negative impact on its business in the United States, the company has continued to grow outside of the country.
Charles Gasparino of Fox Business has turned to Twitter to provide the information he has gotten from sources close to Ripple Labs’ top executives. Gasparino is a contributor to Fox Business.
According to them, the present legal action initiated against Ripple by the Securities and Exchange Commission of the United States has solely had a negative impact on the company’s operations in the United States.
According to these individuals, Ripple’s blockchain company continues to thrive outside of the United States. Moreso, in a recent publication by U.Today, Ripple has established a second ODL route connecting Japan and the Philippines.
I addition, the company is constantly growing its RippleNet network; one of the most recent organisations to join the network was Paydek, which is situated in the United Kingdom.
It wants to leverage Ripple’s ODL technology to expand its business in Africa and Latin America, as well as to coordinate smooth, affordable, and fast remittances and payments for on-demand workers and freelancers. Ripple’s ODL technology was developed in collaboration with Ripple.
Earlier, Ripple Labs CEO Charles Gasparino stated on Twitter that the company has no intention of settling its lawsuit with the SEC and instead intends to win the case against the agency.
Gasparino asserted that the SEC’s anti-cryptocurrency agenda (the SEC has also recently threatened to take Coinbase to court over the upcoming launch of their Lend product) and Ripple’s success outside of the United States demonstrate that the SEC is “forcing innovation to occur outside of the United States.”
BREAKING: People close to @Ripple say while the @SEC_Enforcement case over XRP has hurt its domestic biz, it’s business is thriving overseas, further proof the @SECGov crypto enforcement agenda is forcing innovation to occur outside the US. Story developing
— Charles Gasparino (@CGasparino) September 18, 2021