TechFlow news: Ripple's General Counsel Stu Alderoty recently said in an interview that the company expects to begin negotiations with U.S. financial firms in the third quarter regarding the use of its ODL product, which uses XRP for transfers.
Commenting on the recent ruling about XRP, Alderoty stated: "I think we hope this decision will at least give financial institution clients or potential clients some comfort to start discussing the real problems they face in their business—how to transfer value across borders without incurring massive costs."
Notably, while the judge ruled that XRP is not a security, certain token sales (such as those to institutional investors) did meet the criteria for securities transactions. In response, Alderoty acknowledged this was not a complete victory for Ripple, and the company will examine the ruling at the appropriate time to assess its impact on its business operations.
