Bakkt will not support XRP as part of its further product development

On January 11, Bakkt CEO Gavin Michael shared in the Axios Re: Cap podcast about the mainstream adoption of Bitcoin and other cryptocurrencies. In it, he revealed pretty sad news for XRP.

Bakkt will not support XRP as part of its further product development

Michael says:

“Bakkt is planning to roll out support for a number of altcoins on its platform in the future, but XRP is not one of them.”

Michael declined to comment on whether the company decided to stay away from XRP due to Ripple’s legal issues caused by a lawsuit from the US Securities and Exchange Commission.

Michael said, adding:

“Just not on our platform. We entered the crypto space through Bitcoin, and that was the first currency we’ve made available. We have others that are scheduled to come on board as part of the product development. But XRP is not available.”

Michael’s comments on XRP follow the official announcement of Bakkt’s public launch plans.

Specifically, the Intercontinental Exchange, the operator of the New York Stock Exchange and the owner of Bakkt, announced a merger agreement with VPC Impact Acquisition Holdings to allow Bakkt to launch on the stock market.

Meanwhile, Ripple is fighting the $ 1.3 billion SEC lawsuit brought against the company at the end of December. On January 8, Ripple CEO Brad Garlinghouse strongly denied the claims. SEC’s unproven force and its corporate claims stand on the right side of truth and history.

Amid Ripple’s legal issues, many crypto companies have decided to delist XRP. On January 6, crypto wallet provider and exchange announced that they would be phasing out XRP, following the steps of Coinbase, Binance.US, OKCoin, and others. However, some companies like Uphold want to keep XRP on their platforms until the SEC’s lawsuit is resolved.

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