Banks have been fans of XRP for some time, Ripple Regulatory Officer



In a tweet that has become viral, Sagar Sarbhai, who is responsible for governmental and regulatory relations for Ripple in APAC and the Middle East, explains that banks they were actually fans of Ripple for a while.

Often, many investors and traders worry about certain aspects of a project, for example if the population is large enough or if mass adoption is likely. Mr. Sarbhai reveals instead that in 2016 Ripple had the foresight to give twelve separate banks some XRPs.

They also made sure that the banks were in all the different parts of the world and that there was no pre-existing relationship between any of them, trying to make sure that this experiment was as impartial as possible.

Ripple discovered that there were so many rules about the fact that they had to record the resources meticulously, and there was no way he could actually take into account these new digital resources – that the banks, although they loved how efficient and convenient technology, recognized that the regulation did not allow them to legally use the Ripple

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