To broaden its influence, Ripple Labs is now a member of the American Banker association
Ripple Labs, a popular blockchain payment company, became a platinum American Bankers Association (ABA) member in 2024. Crypto analyst Max Avery has highlighted the significance of this move in a series of posts on social media platform X.
Implications of Ripple’s ABA Membership Status
Avery noted that Ripple’s elevation as a platinum member of ABA will help develop the firm’s deep integration with traditional finance. The analyst claims the move will position Ripple’s payment solutions, including XRP and the XRP Ledger (XRPL), as key technologies for future banking partnerships in the US.
As regulatory clarity is on the horizon, I expect announcements of major US bank partnerships. We know that these been in development but held back by legal uncertainty. The floodgates are about to open for utility based crypto and Ripple is in the right spot to take significant…
— Max Avery (@realMaxAvery) January 10, 2025
ABA is the unified voice for America’s banking sector, representing over 4,000 banks. Its members own $18 trillion in deposits, provide nearly $11 trillion in loans, and employ over 2 million people. This demonstrates their noteworthy presence and impact on the direction of fintech.
Ripple’s platinum membership designation denotes its involvement in this powerful network. Thus, the business has direct access to important decision-makers and the chance to shape banking technology going forward.
Furthermore, ABA membership gives Ripple direct access to a network with over 4,000 banks. Avery sees Ripple’s participation as a potential for mass adoption across the US banking system.
The analyst added that banks’ need for efficient, sustainable cross-border solutions aligns with Ripple’s branding of “a green digital asset for a world without economic borders.”
Ripple is well known for its emphasis on offering cross-border payment solutions that are effective, affordable, and sustainable. As Ripple joins ABA, it gains a platform to promote XRP and the XRPL as solutions to some of the banking industry’s most pressing challenges.
Can XRP Hit New ATH Soon?
Avery thinks resolving Ripple’s case with the SEC will help open new doors for US banks to explore XRP integration. He noted that the lack of regulation clarity in the US has prevented most banks from exploring blockchain integration.
Therefore, he believes the conclusion of Ripple’s case with the US Securities and Exchange Commission (SEC) will address regulatory uncertainties. Additionally, it would create an environment for U.S. banks to explore XRP and XRPL integration without fear of legal repercussions.
As more banks adopt XRP, the price will likely see new All-Time Highs (ATH). At press time, XRP is trading at $2.43, down 3.94% in the last 24 hours.
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