Ripple becomes official partner of the World Economic Forum

The organization emphasized the company’s role in the formation of the Internet of Value

29.08.2022 - 06:45

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What’s new? A page dedicated to the blockchain company Ripple has appeared on the official website of the World Economic Forum (WEF). The WEF called Ripple a corporation that “is doing for value what the internet did for information: enabling its instant and seamless flow around the world.”

Ripple page on the WEF website

Ripple is a payment protocol for exchanging currencies and making transactions. It is used by government financial institutions in Australia, Canada, and Israel. It has offices in San Francisco, New York, London, Mumbai, Singapore, Sao Paulo, Reykjavik, Washington D.C., and Dubai. The platform’s native token, XRP, ranks seventh in the ranking of cryptocurrencies by market capitalization with a figure of $15,9 billion. As of August 29, 06:45 UTC, the asset is trading at $0,32, having lost 4,07% in 24 hours, according to Binance.

What else is known about the partnership? In 2015, the WEF awarded Ripple “Technology Pioneers” in recognition of its work on distributed ledger technology. The Ripple page on the WEF website reports that the company is developing and enabling future scenarios that will catalyze the new digital economy for governments, businesses, and consumers.

It was previously reported that Ripple would leave the US market if it loses a legal battle against the US Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse stressed that he believes the company will win and the final ruling in the case may come as early as next year. He also noted that the company’s win would set a positive precedent for regulating other cryptocurrencies. If Ripple loses the lawsuit and the SEC recognizes XRP coins as securities, the company will continue to operate in another jurisdiction.

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