XRP Isn't a Security, Ripple Says

"We absolutely are not a security", chief market strategist at Ripple Foundation says
13 April 2018   927

Chief market strategist at Ripple Foundation Cory Johnson in a conversation with CNBC said that XRP is not a security.

Johnson raised the issue of the classification of XRP after publication, which said that it was the status of the cryptocurrency that interfered with its addition to the american exchange Coinbase.

We absolutely are not a security. We don't meet the standards for what a security is based on the history of court law.
 

Cory Johnson

Chief market strategist, Ripple

Coinbase and Ripple discussed the possibility of adding XRP to the exchange, but they did not concern the status of XRP as a security, Johnson said.

Coinbase never ever raised the issue of whether or not XRP is a security in our discussions about listing XRP. We're 100 percent clear, it's not a security. We don't meet the standards.
 

Cory Johnson

Chief market strategist, Ripple

Coinbase also confirmed to CNBC that it had not discussed with Ripple the issue of classifying XRP, and all talks concerned more general topics.

UAE to Launch Ripple's Based Payment System

The system is focused on Asian markets and, according to the head of UAE Exchange will be supported by “one or two banks” working with the RippleNet
14 December 2018   138

UAE Exchange payment company based in the United Arab Emirates creates a blockchain payment system along with Ripple, Reuters reports.

The system is focused on Asian markets and, according to the head of UAE Exchange Promot Manghat, will be supported by “one or two banks” working with the RippleNet payment network. Its launch is planned in the first quarter of next year.

It is worth noting that in the UAE there are many workers from other Asian countries.
More than a third of remittances from this country go to India, 8.8% to Pakistan and 6.9% to the Philippines. Thus, the payment corridor being developed may in the future take a significant share of the international transfer market.

Blockchain holds tremendous promise for the industry but there is progress to be made before we see it go fully mainstream. We expect to go live with Ripple by Q1, 2019 with one or two Asian banks. This is for remittances to start with, from across the globe into Asia.
 

Promoth Manghat
Executive director and chief executive, Finablr

According to the information on the UAE Exchange website, the service works with 140 banks and is represented in 31 countries.