Ripple President Monica Long has announced the company’s plans to seek market opportunities in the United States. This development follows the historic court ruling clarifying that the payment network’s token XRP does not qualify as an unregistered security in the US.
Ripple Planning To Expand Engagement In U.S
Ripple has seemingly walked out on the threat to leave the US. Previously, the company had threatened to move away from the U.S. due to the lack of clarity from regulators about XRP’s legal status.
Ripple might not move after all.
In an interview with CNBC, Ripple’s Monica Long voiced enthusiasm for the clarity the recent court ruling offers and described how it will shape Ripple’s operational strategy from now on.
“It’s been a couple of weeks now since the judge’s ruling in our case, providing clarity that XRP is not a security. We’re very happy about it because we now have clarity in terms of how Ripple will operate its business going forward. And we are re-engaging with the US market.”
In December 2020, the U.S. Securities and Exchange Commission (SEC) slapped Ripple with a $1.3 billion lawsuit, alleging that the company misled investors and was selling unregistered securities in the form of XRP.
But on July 13, federal district judge Analisa Torres of the Southern District Court of New York declared that programmatic sales of XRP to retail investors did not qualify as securities.
Long told CNBC on August 2 that Ripple’s operative strategy is not solely focused on the U.S. The company has experienced considerable growth in international markets, particularly where there is clear regulatory guidance regarding digital assets.
“I think that is reflective where there is regulatory clarity, places like the UK, Europe, Singapore, Dubai, and the Middle East. That’s where we see a lot of growth potential for our business around payments,” Long posited.
In particular, Ripple’s expansion in the UK has been outstanding, with the firm mulling further investments. The size of their regional office in London has more than doubled, suggesting marked growth.
The Ripple President further noted that the Silicon Valley decacorn operates other pivotal offices in Singapore, Dubai, and Sao Paulo, representing their extensive customer base and global reach.
In the meantime, the SEC has suggested an appeal of Ripple’s recent courtroom victory could be coming soon.
