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Usha Yadav
Oct 1, 2022
by Usha Yadav

Ripple Partner, I-Remit, Releases Sensational Appeal To Court And SEC

I-Remit

Table of contents

  1. I-Remit Addresses SEC
  2. Ripple On-Demand Liquidity Corridor
I-Remit, a cross-border remittance company with headquarters in the Philippines and a significant partner of Ripple, has submitted a brief in favor of the cryptocurrency business and XRP in a legal action brought by the SEC. The corporation has provided a formal declaration on the matter and urged the court to consider it when making a decision. In I-Remit's memo, the corporation explained why XRP is not a security.

I-Remit Addresses SEC

I-Remit addressed the Securities and Exchange Commission (SEC) directly, claiming that their activities appear to be an attempt to misrepresent fundamental elements and concepts of cryptocurrencies and blockchain technology and impose regulatory action in areas unrelated to their core business operations. The business, which recently declared cooperation with Ripple, also argued before the court that as a frequent user of XRP, it never viewed the cryptocurrency as an investment but rather as a vehicle for quick, effective cross-border transactions. I-Remit justifies its unexpected announcement by stating that it is interested in the procedure result.

Ripple On-Demand Liquidity Corridor

The Philippines-based business, established in 2001, uses RippleNet technology and has been a Ripple On-Demand Liquidity corridor in Asia since 2018. When I-Remit was granted permission to use ODL for Treasury payments, the two businesses recently strengthened their alliance. The announcement was well received, and Yoshitaka Kitao, the current CEO of SBI Holding and a previous member of the Ripple board, even shared it on social media.

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Ripple SEC I-Remit
Ripple Partner, I-Remit, Releases Sensational Appeal To Court And SEC
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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