2024

Long

Moon

<p class="is-style-lead">Ripple has switched its on-demand liquidity services for U.S. customers from XRP to&nbsp;Tether’s&nbsp;USDT stablecoin.</p>
<p>This follows a court ruling last year that found institutional sales of XRP tokens violated U.S. security laws. Consequently, Ripple has engaged entities outside the U.S. to facilitate sales of <a href="https://crypto.news/price/ripple/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> to on-demand liquidity (ODL) clients, with U.S. clients now using <a href="https://crypto.news/price/tether/" target="_blank" rel="noopener noreferrer nofollow">USDT</a> as a bridge currency for transactions.</p>
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   <p lang="en" dir="ltr">Ok Matt. Didn’t have time yesterday but given that you were kind enough to cover this issue on YouTube I have followed up on the point you made about Ripple not having ODL customers and operating through overseas subsidiaries, in response to my concern that a wide injunction can… <a href="https://t.co/Lt2OflA9K6" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Lt2OflA9K6</a> <a href="https://t.co/QmymbOEATV" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/QmymbOEATV</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1783741616383295523?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 26, 2024</a>
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<p>Moon Lambo, an XRP YouTuber, claims that Monica Long, President of Ripple, emphasizes swift compliance with legal restrictions while ensuring uninterrupted ODL services for U.S. customers.</p>
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   <p lang="en" dir="ltr">Ripple President Monica Long says they don't have any ODL customers. According to Ripple's latest filing, a Singaporean subsidiary has ODL customers using <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$XRP</a>, but Ripple itself does not. Would an injunction to stop's Ripple's ODL apply to Singaporean subsidiary? If not, then as…</p>— Moon Lambo (@MoonLamboio) <a href="https://twitter.com/MoonLamboio/status/1783388482720665823?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 25, 2024</a>
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<p>The YouTuber also stated that&nbsp;Ripple’s&nbsp;<a href="https://crypto.news/tag/Singapore/" target="_blank" rel="noopener noreferrer nofollow">Singapore</a> subsidiary is now the primary counterparty for XRP sales, indicating a strategic shift toward companies outside the U.S. to circumvent legal hurdles.</p>
<p>Additionally, internal communications revealed that <a href="https://crypto.news/tag/Ripple/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>&nbsp;has&nbsp;introduced minimum asset requirements for ODL clients with a threshold of $5 million to ensure financial sustainability. Exceptions&nbsp;are made&nbsp;for&nbsp;sophisticated organizations,&nbsp;reflecting&nbsp;Ripple’s&nbsp;commitment to protecting end customers in the face of regulatory challenges.</p>
<p>Moon Lambo also suggests that ODL transactions can continue unimpeded as long as they do not involve U.S. jurisdiction.</p>
<p>Following the <a href="https://crypto.news/tag/sec/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> order in 2021, Ripple has taken steps to transition every ODL customer in the U.S. from using <a href="https://crypto.news/price/ripple/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> to an intermediary currency, in this case, <a href="https://crypto.news/price/tether/" target="_blank" rel="noopener noreferrer nofollow">USDT</a>.&nbsp;Last year, Ripple&nbsp;introduced a requirement that all ODL clients must&nbsp;have assets worth at least $5 million unless they are large financial institutions.</p>
<p>You might also like: <a href="https://crypto.news/ripple-asks-court-to-reject-secs-2b-claims/" rel="noopener noreferrer nofollow"> Ripple asks court to reject SEC’s $2b claims </a></p>

Ripple switched ODL services for US customers from XRP to USDT

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