Ripple’s XRP Coin Looks To Expand Despite SEC Security & Coinbase Listing Indecisions
XRP holders may be on the right track when they say that the primary reason why Coinbase has not listed XRP on its platform has something to do with the pending SEC decision. SEC is yet to make a decision on whether this particular digital asset is a security or it is not.
Information provided by the SEC indicates that Ethereum and Bitcoin are decentralized to a point where SEC does not have to regulate them. This information has set precedence for BCH (Bitcoin Cash) and ETC (Ethereum Classic) to get listed on Coinbase. This happened earlier this year and is a move that resulted in XRP being left out.
A closer look at the reason why the platform is choosing to list Basic Attention Token (BAT), ZCash (ZEC), OX (ZRX), Cardano (ADA), and Stellar (XLM) indicates that it could be due to the fact that these tokens are not faced with any kind of legal disputes, e.g., pending lawsuits.
How Does This Affect XRP And Ripple?
Many investors are interested to know whether the decision to be made by the SEC on the three pending lawsuits against Ripple and XRP will in any way affect their plans to expand to other parts of the world.
For those seeking for the answer to this question, the answer is a firm NO. XRP and Ripple have already been able to decentralize their services away from the country where they were founded, which happens to be the United States.
You can see evidence of this by looking at the partnership that Ripple and SBI made. It is a partnership that paved way for the creation of SBI Ripple, a firm that has been registered in Japan.
In addition to this, there also exists the XBI Virtual Currencies Exchange. This particular exchange happens to be XRP-centric. Its current CEO has been quoted as saying that their exchange will emerge in the top position when they become fully operational.
Ripple has also been on a rapid expansion plan that has seen it open offices in the city of Mumbai. This means that if their American offices are closed for any reason, they can always pack their bags and relocate to another continent where they will be able to operate with ease.
Another partnership worthy of being mentioned is the partnership between Ripple and Santader Bank. The bank is currently using the software system provided by Ripple in close to half of all its international transfers. Ripple has also powered its OnePayFX application. The application is available in South America, as well as in Europe.
SBI Holdings also went further and used xCurrent in powering its remittance services, popularly known as SBI Remit services. Another important factor to note is the fact that Ripple as a company is completely separate from XRP.
What this means is that the future of its digital asset will, and can only be determined by the crypto community. The crypto community, therefore, needs to understand that any decision made by the courts will not affect XRP in any way.