Ripple XRP Newsletter – July 2023
Welcome to the Ripple XRP newsletter. Here are the highlights and latest updates on Ripple XRP
XRP wins the SEC case: token purchases via exchanges are not securities
In July 2023, Perhaps the biggest news to date is that Ripple scored a partial victory in its legal battle with the U.S. Securities and Exchange Commission (SEC). A U.S. judge ruled that XRP token purchases via exchanges were not securities transactions, which led to a 66% increase in XRP’s value, making it the world’s fourth-largest digital asset by market cap. However, the judge also found that Ripple had violated securities law when it sold XRP to institutional investors.
In November 2022, Ripple announced a new partnership with ProprHome, a blockchain-enabled real estate marketplace
The Ripple partnership with ProprHome aims to revolutionize the real estate market by leveraging the XRP Ledger to distribute utility non-fungible tokens (NFTs) that represent asset ownership. The use of NFTs will provide faster, more reliable, and more energy-efficient transactions to market participants. The platform will issue blockchain-based digital property certificates, which allow users to bypass the time-consuming process of verifying and approving real estate transactions.
The partnership between Ripple and ProprHome will enable home buyers to access numerous services, including property management, rental agreements, and mortgage financing. The collaboration will also simplify the process of buying, selling, and renting real estate properties in Portugal. The partnership will leverage NFT utility for real estate, which is a new concept that has the potential to transform the real estate industry.
Ripple On-Demand Liquidity (ODL)
Ripple Labs is expanding its payment solution into Australia through its major partner Trianglo. Trianglo and EzyRemit will utilize the On-Demand Liquidity (ODL) to foster the payment push in the Asia Pacific corridor.
Ripple released its Q2 markets report in August 2022, which demonstrated an increase in the use of Ripple on-demand liquidity (ODL). The report shows that ODL is gaining real-world adoption, and it is helping customers move money around the world without the need for correspondent banking relationships and the pre-funding of accounts abroad.
Ripple’s ODL service is now available to nearly 40 payout markets, which is about 90 percent of the FX market. This service enables financial institutions to transfer funds across borders instantly, reliably, and cost-effectively. Ripple has partnered with various companies around the world to drive innovation in crypto, including tokenization partners and XRPL infrastructure partners.
Central Bank of Colombia Partnership
The Central Bank of Colombia has announced a new partnership with Ripple and the University of Toronto Peersyst to explore blockchain technology use cases and the creation of a central bank digital currency (CBDC)2. The pilot program will run through 2023 with the intent of demonstrating the technology’s utility to the public.