Ripple made for payment purpose & it’s not speculative asset, says former US Treasurer

Former US Treasurer & member of Ripple board said that crypto assets except Ripple are speculation based crypto assets.

In the present time, a lawsuit filed by the SEC on Ripple has been going on since 1 year. And there are huge chances that this case is going to settle because the Ripple firm CEO said in a recent interview that they are open to settle with the SEc but on one condition that SEC should give clarity on the XRP legality. Amid the ongoing hearing in this lawsuit, all critics & supporters of Ripple are stating and sharing their point of view from time to time.

Related: Ripple firm is ready to settle case with the SEC

Rosa Rios, Ripple board member, taken on twitter on Sunday and raised his sounds in favour of San Francisco based firm Ripple. 

Rios tweeted that Ripple is responsible for the payment purpose use case, while other crypto assets are made for the speculation based trading. 

“XRP’s primary purpose is facilitating cross border payments while other cryptos find their value in speculation. China’s latest move brings this point home.”

So Rios tried to say that Ripple is a totally unique concept and it is totally different from other crypto assets like Bitcoin. And also the move of China on crypto assets specially Bitcoin was part of the legality issues.

Rosa Rios is a member of the Ripple board and also a former US Treasurer. Rios worked as US Treasurer from 2009 to 2017 under the administration of President Barack Obama. 

During the joining of Ripple firm, Rios appreciated the existence of Crypto assets and blockchain based technology and said that there are future of payment system

“Blockchain and crypto will underpin our future global financial systems….and Ripple is one of best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally.”

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