Categories: Ripple

Ripple’s Expansion Plans Overshadowing Its Lawsuit Worries

Click here to view original web page at

Ripple Labs get relief in one of the latest lawsuits from the District Court of California, while the company doubles-down on its expansion plans in Asia and the Middle East.

It seems like there is absolutely no stop to the number of lawsuits filed against San Francisco-based blockchain startup Ripple Labs. The company has been facing several lawsuits for its XRP tokens to be considered as securities, however, Ripple CEO Brad Garlinghouse has outrightly denied the claims several times.

On August 11, the US Northern District of California court rejected the remand application for a lawsuit by XRP investor Ryan Coffey on Ripple Labs three months back in May 2018. Coffey sought damages in the form of financial losses while accusing Ripple and its CEO of manipulating the price of XRP tokens through sensational advertising and media promotion of the digital token while “obscuring the role of the security.”

The plaintiff also argued that XRP products are not completely decentralized while also accusing the blockchain startup of violating the federal securities laws through the sale of XRP tokens. However, the California district court ruled its decision in favor of Ripple Labs saying:

“Having read the papers filed by the parties and carefully considered their arguments and the relevant legal authority, and good cause appearing, the court hereby DENIES plaintiff’s motion.”

However, Ripple is not the only company which has been facing the heat of lawsuits. Even giants like Apple have 20 times more lawsuits against itself in the market in comparison to Ripple pending three. Twitter user @lanbins recently responded to a post questioning about three pending lawsuits on Ripple Labs saying:

“Nice to know but apple is I like 60 . . . lawsuits it just turned $1T it’s normal in big business.”

Ripple in Talks With Multiple German Banks, Expanding Further Wings Into Asia and The Middle East

Ripple’s Head of Banking Marjan Delatinne recently confirmed that the company is in talks with several banks in Germany. This year, Ripple has been aggressively pursuing partnerships with global banking institutions. Ripple’s xCurrent and xRapid solutions, for low-cost instant fund transfers across the globe, are currently used by more than 100 banking institutions.

Delatinne was questioned about the company’s growing presence around the globe in countries like Japan, U.S., other parts of Europen, but was having an absence in Germany’s emerging blockchain market. To this, he replied, “We actually are in talks with many of [German] banks too.”

Riesebank, the third largest bank in Germany by asset size is the only German bank in partnership with Ripple. Additionally, Ripple further expands its operations in Asia and the Middle East as it partners with more banks in the region. Navin Gupta, the Managing Director of Ripple in India, Southeast Asia, the Middle East and North Africa said during a recent interview to TechCircle that he is confident that Ripple’s solutions will be replacing the existing SWIFT systems soon.

Mr. Gupta is quite bullish on India’s market as he said that the company expects nearly 1 billion people in the country to get banked in the next five years. Ripple’s partnerships with the top three banks in India would straight away give them 80% share in the country’s financial banking sector.

Later, he also disclosed the company’s expansion plans in the Middle East while collaborating with some of the biggest banks in the region. In addition to the expansion plans, Ripple has also been working closely on the regulatory aspects. Asheesh Birla, senior vice president of product at Ripple said:

“We are going around the world making sure that for the next 1,000 customers that we want to bring on which we think we can do in the next two years that regulation is not going to be an issue.”


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Is Boris Gone Landslide and How Would Bitcoin, Markets, React?

The sun has returned on London streets as Boris Johnson, the unelected British Prime Minister, once again covers our TV… Read More

5 hours ago

California Man Admits Masterminding $25 Million Bitcoin Launder Fest

A Los Angeles man has plead guilty to a multi-million money laundering scheme. | Source: Shutterstock By CCN Markets :… Read More

5 hours ago

WORLD NEWS: This Week in Blockchain and Crypto

This week has seen interesting developments around the globe on crypto projects and governments interest in the digital assets space.The… Read More

5 hours ago

Bitcoin Circuit: Is it a scam? Read our comprehensive review!

If you are looking for ways to speculate on cryptocurrencies, then I am sure you have thought about signing up… Read More

5 hours ago

Model: Bitcoin (BTC) Price to Surge 100% to $20,000 by May

In just around nine months, Bitcoin (BTC) will see its next block reward reduction — dubbed “halving”. Despite this rapidly… Read More

5 hours ago

Early Bitcoin Contributor Projected $10 Million BTC Price 10 Years Ago

Share Tweet Send Share Just a week after the bitcoin genesis block in January 2009, computer scientist Hal Finney published… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More