XRP-Backed ETP Launches on Europe’s Leading Digital Asset Exchange

Tomiwabold Olajide

XRP will join the company’s suite of institutional-grade exchange-traded crypto products (ETPs)

ETC Group announced the listing of its XRP-backed ETC on Deutsche Börse Xetra, Europe’s leading digital asset exchange. Interest in exchange-traded cryptocurrencies (ETCs) has grown as they offer investors a safer and more liquid way to gain exposure to underlying digital assets.

XRP will join the company’s suite of institutional-grade exchange-traded crypto products (ETPs), including Bitcoin, Ethereum, Solana, Cardano, Polkadot, Litecoin, Avalanche, and Cosmos, Polygon, and Uniswap that trade on Xetra.

Bradley Duke, Founder of ETC Group, explains the reason for choosing XRP: “Ripple is quickly becoming a leader in global payment systems with hundreds of financial institutions choosing Ripple to provide a better international payment experience for their customers. , in real time. .”

As previously covered by U.Today, Ripple CEO Brad Garlinghouse pointed out that despite the lengthy lawsuit Ripple is currently battling with the U.S. Securities and Exchange Commission, the company is experiencing “record growth” outside of the United States.

Ads

Adoption of RippleNet’s On-Demand Liquidity (ODL) service in the Asia-Pacific (APAC) and Middle East (MENA) region continues to grow in response to increased demand for rapid settlements and immediate access to funds. APAC is said to be one of the fastest growing regions for RippleNet, where transactions have increased by 130% year over year.

In recent updates shared by defense attorney James K. Filan on the XRP lawsuit, Ripple and the SEC filed a joint programming letter offering opening briefs for summary judgment and expert challenges in August and closing memoirs a few days before Christmas.

Ripple’s General Counsel, Stuart Alderoty, says Ripple is doing everything possible to settle the case as soon as possible, although a likely resolution may come in 2023. He says, “To everyone who has followed the case so far – thank you. Know that Ripple is doing everything possible (and the Court is working hard) to resolve the case as quickly as possible, despite the fact that the SEC has repeatedly done everything it can to delay. ”

Mary I. Bruner