Ripple continues to prosper beyond the U.S., despite the legal war with the SEC

According to Charles Gasparino, Senior Correspondent at FOX Business Network (FBN), Ripple keeps thriving outside the United States (U.S.), despite SEC harming its domestic business.

Ripple continues to prosper beyond the U.S.

Alongside James K. Filan, the lawyer who closely follows the Ripple and the U.S. Securities and Exchange Commission (SEC) case, Gasparino is close to sharing quite a bit of information received from sources close to top Ripple Labs executives.

Recently, according to an update from Gasparino, Ripple’s lawsuit with the SEC affects the company’s operations in the US. However, this does not affect theirs business is thriving overseas.

In fact, according to these people, Ripple’s blockchain business continues to thrive outside of the US. Over the past three months, Ripple has continuously expanded the RippleNet network. In July, as AZCoin News reported, Ripple announced a new On-Demand Liquidity (ODL) payment corridor between Japan and the Philippines.

Japan, which is in the middle of hosting the Tokyo 2020 Olympics, has always been a significant mainstay for Ripple. The country emerged as the top candidate for Ripple’s global headquarters in late 2020. Still, the company plans to move out of San Francisco on pause amid its legal battle with the U.S. Securities and Exchange Commission.

Also, in July, XRP community members posted tweets with an announcement of Ripple’s ODL trademark now being officially registered with the UAE Ministry of Economics.

ripple-continues-to-prosper-beyond-the-u-s-despite-the-legal-war-with-the-sec

According to the translation provided in the comments, Ripple has registered ODL to provide electronic financial services to do with payments involving fiat currencies and the exchange of digital and fiat currencies over the network.

Meanwhile, recently, the UK-based payments company, Paydek, turned to Ripple to help solve these problems faced by their customers to deliver reliable, real-time cross-border payments into new markets through RippleNet.

Earlier, Gasparino also tweeted that Ripple Labs has no intention of settling the case with the SEC but plans to win it over the regulator. He emphasized that the SEC’s agenda against crypto companies and Ripple’s success outside the U.S. proves that the SEC is forcing innovation to occur outside the US.

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