Ripple has one serious problem: the two largest US exchanges refused to list XRP. This is reported by Bloomberg.
Sources, familiar with the situation said that last year Ripple offered Gemini and Coinbase big money for the listing, but they were adamant. The thing is that US regulators are pursuing a policy aimed at preventing the distribution of securities under the guise of cryptocurrencies and digital tokens. The fact that XRP is controlled by one company means that this cryptocurrency has at least one sign of a security, therefore, listing it can lead to serious problems for the exchange.
Last year, the head of Ripple appealed to Gemini with a proposal to conduct a listing of XRP for $ 1 million in Fiat. This was followed by several other proposals with differing conditions, the source said.
During preliminary talks with Coinbase last fall, Ripple suggested to borrow to the exchange over $ 100 million in its own crypto currency, with the prospect of extracting a major benefit from the subsequent growth of the exchange rate.
Both exchanges were forced to refuse Ripple, the source explained.
A spokeswoman for Ripple stated that not all the information provided by the sources corresponded to reality, but refused to say what they had made a mistake.
Among other things, if XRP will still be recognized as a security, exchanges can begin delisting process of the coin.