Ripples has ended the week with five major wins ranging from scoring a victory in the ongoing SEC’s lawsuit to the acquisition of Metaco a Swiss-based company focused on digital asset custody and Tokenization.
The technology firm witnessed a week of pleasant and favorable development.
Hinman Docs Will be Released
Recall that SEC and Ripple were in an intense legal battle claiming that XRP is an unregistered security. The ruling judge Analisa Torres rule to reject SEC’s request to seal Hinman’s Documents
According to the judge, the document is important for the court’s forthcoming decision on the case. The landmark ruling has given Ripple authorization to make the document accessible to the public.
This ruling came after several months of attempts by the SEC to seal the document.
Read Also: Brad Garlinghouse Discovers The Cunning Act Of SEC In Handling Over The Hinman Document, He Says “Don’t Believe Them”: Here’s Why
Ripple Has Acquired Metaco
Metaco a Swiss-based computer that focused mainly on the custodian and tokenization of digital assets has been acquired by Ripple.
This was made public after Judge Torres ruled on Hinman’s Document. The acquisition was valued at $250 million.
The development suggests Ripple’s expansion into the world of crypto custody and Tokenization industry, a step toward fulfilling the words of Ripple’s CEO on the company’s commitment to providing long-term opportunities for crypto utility.
Read Also: SEC Has Two Days To Request For Reconsideration Over William Hinman’s Document Says Ripple Enthusiast
Ripples Unveiling of Its CBDC Platform
Ripple announced the unveiling of its CBDC platform on the 18th of May, a platform developed to assist Financial institutions and Central Banks to create their own digital currency.
The CBDC platform in March 2021 underwent its pilot phase, it was developed with the same Technology as the XRP ledger.
According to Ripple’s CTO, the platform has the adaptable potential to interact with XRP, but the use of XRP is optional for the financial institution that seeks to build its platform.
Digital Currency Award Honors to Ripple
At the Just concluded 2023 Digital Currency Award, The Silicon Valley company was Honored as the best sustainability initiative company, James Wallis, the VP for the CBDC project won the Digital Leader of the Year Award.
Warren Jenson has Joined the Team
The Firm on May 19 announced Warren’s arrival to the Board, Warren will be the Chair of the audit committee.
Warren Jenson is believed to bring value to the Board because of his Financial expertise as the former CFO of Electronic Arts And Amazon.
As The Company achieved remarkable development this week it should be noted that the world of Crypto is clouded with volatility and that consistency needs to be maintained to stay on top of the chart.