cryptonews.net
The recent decision that the company's token is not a security is paving the way for US banks and financial institutions to embrace Ripple's solution for international payments, according to a Ripple executive. In an interview with CNBC, Stuart ALDEROTY, Ripple's General Counsel, expressed confidence that US banks will return to Ripple's On-Demand Liquidity (ODL) product.
According to him, Ripple plans to start negotiations with US financial institutions in the next quarter of the year regarding the adoption of its ODL solution, which uses XRP for efficient money transfers. Alderoty stressed that the court's decision will help financial institutions discuss the problems they face with cross-border transfers, especially high fees.
Twitter user WallStreetBulls emphasized that 4,096 commercial banks and 576 savings and loan associations, holding combined assets of $23.7 trln, intend to revolutionize cross-border settlements with the help of Ripple ODL. However, it is important to note that this is just a WallStreetBulls forecast given the number of commercial banks in the US. It is not yet known to what extent any US bank will use ODL.
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