Ripple News: Is It ‘Too Much’ to Call XRP a Bridge Currency? Pro-XRP Lawyer Answers

Ripple has made tools to bring global investors into the crypto world and fix old issues in cross-border payments. Attorney and crypto enthusiast Bill Morgan stated that institutions using XRP for cross-border transactions (ODL) aren’t treating it as an investment for profit but for practical purposes. Confusion arises about Ripple’s disagreement with considering these XRP sales as investment contracts.

He added, “How can Ripple not appeal the finding XRP sales to ODL users are investment contracts.”

A Twitter user responded skeptically, implying that XRP isn’t fit as a bridge currency, likely being seen more as security than a true currency. The user also noted that Jed McCaleb foresaw this in 2014, opting for XLM instead of XRP due to these concerns.

The user said, “Bridge CURRENCY? That’s too much to ask for. #XRP is a security, improbably a commodity, never a currency.”

Bill countered the user’s doubt by asking if considering XRP as a bridge currency was really too much. He reminded the user that Judge Torres easily identified XRP’s attributes as a currency and a commodity, leading to the conclusion that it could be sold as an investment contract. 

He concluded, “You think it is too much to call XRP as a bridge currency? Judge Torres had no difficulty in finding that XRP had attributes of a currency (and a commodity) and that it could be sold as an investment contract. That is why these assets are so unique.”

Ripple’s CTO, David Schwartz, recently confirmed that their CBDC Platform can work with the XRP Ledger and XRP tokens. He mentioned that both platforms share the same core technology and can connect to each other.

He had said, “It has the ability to interact with #XRPL and use XRP as a bridge currency for cross-currency and cross-border payments. “I never recommend building products that require people to use XRP (unless they’re XRPL features) because that becomes a reason not to use the product.”