NewsletterRipple Joins Top Global Derivatives Trade Body IDSA
Crypto News: Ripple Labs became a member of the International Swaps and Derivatives Association is a trade organization of market participants for the over the counter (OTC) derivatives. This makes it one of the very few crypto market companies that joined the likes of JP Morgan, Blackrock, Goldman Sachs, BNY Mellon and the London Stock Exchange.
Also Read: MicroStrategy’s Michael Saylor: Bitcoin Now At Inflection Point
The International Swaps and Derivatives Association (ISDA) members include derivatives market participants like corporations, investment managers and insurance companies. Interestingly, the trade body also features Algorand among the Digital Assets category as a member. Ripple already has working relations with several global financial institutions, businesses and governments.
Ripple Labs Joins ISDA
With the ISDA membership, Ripple now joined over 1000 member institutions from 79 countries. However, it remains to be seen if the company stitched any collaboration out along with the trade organization and its members. Recently, the company received a sigh of relief with Judge Analisa Torres ruling that the sale of XRP tokens to retail buyers do not qualify as securities, while those to institutional holders amount to be securities. With this, Ripple officials said that the company is re-engaging in activities with United States based partners and clients.
Also Read: Hedera (HBAR) Linked With Banking And Mastercard For Enhanced Digital Solutions
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