XRP has struggled a lot of legal battle over the years. And they win some battles and then get dragged into another court. And series of legal things just dont end for them. However they are also expanding.
The number of companies and the nations that are making use of the XRP token and the Ripple's digital asset are growing every single day. And this means they have a market demand and something they can carry over to other projects now legally.
Recently there was a news that they were partnered with one of the bank named DZ Bank for the digital asset project. And they are now part of the platform that does the treasury and market for the digital asset custody.
Let's talk about the Ripple Lab's growth in this space and how they are managing to do it effectively.
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DZ Bank AG & Ripple Labs
Finance is the domain of the ripple labs and they have been doing the token works for some time now. And they have stretched their tentacles in the digital assets and the custody market. Which is one of the strong markets which many big business get into compared to the average consumer.
DZ Bank has now partnered with the Ripple labs and they are making sure that they can host their own digital asset custody platform of their own. And for that they decided to choose the blockchain system by the Ripple labs. This would be the partnership for the upcoming times.
German Electronic Securities Act and Digital Assets
EU has their own set of the rules under which the participating nations would be taking part. However the digital assets are something strong and different. They are making the rules that the institutions should be keeping such assets with the custody market leaders. And this way they can be audited and managed way better.
Here AZ Bank is becoming one of such custodian and they have marketplace which would open other banks to participate in the market. This act from germany keeps an eye on those things and then digital assets would be watched and managed using them. Which is what will happen as the assets get mainstream.
Harmonize Platform
Recently Harmonize was bought by the Ripple labs. And the platform was the one that was being used or being in process of offer for those who wanted to keep the digital assets for the institutional and biggere enterprise account.
This deal does not went blindly. They had the process where they shown the proof of concept. And then they had variety of the validation and the verification process through which they thought the Harmonize platform was the right choice for them. And so the deal happened with the Ripple Labs.
Currently they are just acquiring the banks and later they aare going to be approaching the enterprise and the private banks. Which would mean that their token would be priced a bit higher and even their stock price if they go in that direction would help overall as they grow.
Ripple labs this success is going to bring into mainstream for even further more connections. In short that would build up reputation despite they getting the legal battles with SEC and varietey of other compliance systems. Something positive to explore for Ripple labs while they are growing slowly.