Ripple Gets Support From Two Major Companies In XRP Lawsuit

By Kevin • October 2, 2022 2:06 pm • Comments

Ripple has just recently received support from two major companies which may help its case significantly within the ongoing lawsuit against the SEC.

The two companies that have given their support are I-Remit which is a Philippines based cross-border remittance company and the second company is TapJets which is known as a jet charter company.

So far, both of them have joined the case and have requested to file an amicus brief in order to demonstrate the utility of XRP which can provide that it is not considered a security like the SEC claims.

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Ripple has continued to refute the SEC’s claim that XRP was sold as unregistered securities and also shares details that shows that the timing of the lawsuit was quite questionable.

After all, the lawsuit was filed during Hinman was an SEC official and there has been accusations that Hinman has had a conflict of interest due to his close ties with Ethereum.

Crypto-News-Flash.com reports:

Ripple has refuted this claim and questioned the timing of the lawsuit by the SEC as well as the conflict of interest by Former SEC director William Hinman who made millions from a pro-Ethereum firm during his time at the office. It is important to note, that the lawsuit against Ripple was filed during Hinman’s tenure.

With the case set for a conclusion after both Ripple and the SEC filed for a summary judgment noting that the Judge had sufficient evidence to make a ruling, two huge companies are throwing their weight behind Ripple Labs.

As shared by Ripple lawyer James K. Filan, I-Remit has shared an official statement in support of Ripple and asked the court to include it in its final decision.

In support of Ripple, I-Remit which is a partner of Ripple notes that in its use of the XRP token, it never viewed it as a security but rather as a tool for fast, cost-efficient, cross-border transfer.

The company also accused the SEC of misinterpreting blockchain and cryptocurrencies to influence its authority in the industry. It further claimed that SEC lacks an understanding of modern technology.

As far as TapJet’s support for Ripple, the company had recently incorporated the use of the XRP token as a new payment option.

The company states that this new integration of XRP as a payment option was actually vital to its success as it allowed for the receiving of payments outside of bank working hours.

Essentially, because of XRP, the company can now accept payments 24/7 which was something that it had struggled with before.

With this integration, it is clear that TapJets has already invested significantly into Ripple’s technology and claiming that the XRP token is a security would ultimately interfere with the company’s success.

Crypto-News-Flash.com concludes:

Another company that has come to the aid of Ripple is Privat jet charter company TapJets. The charter has incorporated the XRP payment option.

In its interaction with the token, the charter notes that the token has been “vital” to its business as it can be used for payment outside of bank working hours.

This has ensured that its clients can book flights and complete transactions at any time or day. It further revealed that it has invested heavily in the technology and if the token was deemed a security, the company would incur huge losses.

As CNF reported, Ripple CEO Brad Garlinghouse has expressed confidence in winning the case. According to him, the case is crystal clear and it’s just a matter of time before Ripple wins.

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