HomeNewsBank of America and Ripple: A Powerful Duo Post SEC-Victory – NFTs...

Bank of America and Ripple: A Powerful Duo Post SEC-Victory – NFTs and AMMs Ahead!

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  • The recent ruling that XRP is not a security will enable it to be added to Ripple’s Liquidity Hub, providing momentum for the adoption of XRP in American banks such as Bank of America, and increased interoperability with other blockchains.
  • Ripple’s victory could trigger the implementation of Automated Market Makers (AMMs) on XRPL, drawing in a wave of software developers from other platforms.

Neil Duncan, a respected voice in the blockchain world, paints a bright picture of Ripple’s XRP following the recent judgement by Judge Torres that XRP is not a security. As per his astute analysis, this verdict marks only the beginning of a series of announcements and transformations.

Anticipated Developments Post-SEC Ruling

Firstly, he predicts that XRP will be incorporated into Ripple’s Liquidity Hub. This will bolster the XRP’s standing in the market and is a natural progression, given its newly affirmed non-security status.

Secondly, the ruling may see a significant shift within American banks – possibly even within such financial juggernauts as Bank of America – towards the adoption of On-Demand Liquidity (ODL). This would see Ripple connecting the U.S. to all the currency corridors it has networked, enabling an unprecedented scale of financial interactions.

Next, he anticipates the unveiling of more XRPL-based Central Bank Digital Currencies (CBDCs) in partnerships with central banks from small to medium countries. With each partnership, he suggests, the country involved will be progressively larger, creating a domino effect of adoption and integration.

Automated Market Makers and XRPL

One of the most pivotal implications of the ruling is the potential implementation of Automated Market Makers (AMMs) on the XRP Ledger (XRPL). This would come into effect upon the passing of proposal XLS-30d, which would enable all participants to earn yield on their XRP at the Layer-1 level. This incentive would foster increased activity on-ledger. Concurrently, the introduction of $FXRP on Flare could also open the door for decentralized yield of XRP.

The Shift of Software Developers

Finally, and perhaps most intriguingly, Duncan foresees a strong tide of software developers moving their projects from other blockchains to interoperate with XRPL. With XRP potentially being the only altcoin with a legal non-security designation in the near future, the shift could be substantial and further consolidate XRPL’s position in the blockchain ecosystem.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628