- As the Ripple partial ruling hype reduces, the company is behind the scenes, making some of the best deals. Recently, Ripple partnered to join a top derivatives council.
- Ripple joined the International Swaps and Derivatives Association (ISDA). Apparently, experts say this is part of their plans to reintegrate themselves into the US.
Ripple is very confident of their future after the partial ruling in July. Hence, the crypto company admits they plan to reintegrate themselves into the United States. Not only that, they also plan to make expansions to the UK and Europe. However, Ripple recently entered a deal with a top derivatives council to become their member. The company hopes that joining ISDA will open more opportunities.
Ripple Becomes the Latest ISDA Member
Ripple is now the latest crypto firm to enter into a partnership as a member of the International Swaps and Derivatives Association (ISDA). Apparently, this organization is an avenue for crypto companies engaging in over-the-counter (OTC) derivatives. Also, Ripple joining this organization means they are one of the few crypto firms to join the council.
With that in mind, London Stock Exchange, Blackrock, Goldman Sachs, JP Morgan, and BNY Mellon are among the members. It is also worth noting that Crypto.com and Algorand are prominent crypto firms among the members.
Why Did Ripple Join ISDA?
The case between Ripple and the Securities and Exchange Commission affected the crypto project very much. Immediately, it made the news that the SEC would sue Ripple, many crypto exchanges delisted the XRP token. But they had a breakthrough after the partial ruling. At least they can now breathe a sigh of relief. However, immediately after the ruling, XRP kicked off its plan to integrate itself back into the financial world.
They do this by striking strategic deals here and there to improve their brand image. Recently, the company confirmed trying to get operational licenses in the United Kingdom and Ireland. Apparently, this is part of their plans to expand their base.
With this in mind, XRP became a member of ISDA to improve its brand image. Joining this organization means that Ripple will join more than 1,000 financial institutions operating in more than 79 countries. Furthermore, by joining ISDA, Ripple gets the opportunity of striking a deal with member institutions.
Conclusion
Ripple is among the crypto firms hit by a surge of legal cases involving the Securities and Exchange Commission. Since 2020, the case continues to drag on even in 2023. However, Ripple plans for the future by making strategic deals. The company shows the legal case with the SEC doesn’t be a limitation. So they entered into membership with the International Swaps and Derivatives Association (ISDA). Becoming a member provides a wide range of opportunities for Ripple.
