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Ripple, R3 Settle Lawsuits on XRP

A year later the news showed that the blockchain companies Ripple Labs and R3 HoldCo were involved in a legal dispute , the case was resolved, according to a press release issued this week. In a statement, Ripple said the companies "have reached an agreement on all outstanding disputes between the parties".

The company was tight-lipped about precise details of the agreement, however, noting that the terms of the agreement are "confidential" "and that" both parties do not see the time to put these disputes behind them. "

Last September, Reuters reports said R3 and Ripple had been suing for option contracts to purchase Ripple's XRP cryptocurrency

that the companies have entered into a contract in September 2016, giving R3 the right to buy up to XRP 5 billion to $ 0.0085 per unit until September 2019. According to a complaint submitted by R3, however, Ripple's CEO, Brad Garlinghouse, attempted to conclude this contract of options via e-mail to R3 CEO, David Rutter.The R3 case claimed that the Ripple contract does not include a termination option.

Ripple then filed a counter-action, according to reports, claiming that the company has concluded its XRP purchase contract because R3 failed to provide a separate technology partnership that allowed Ripple to access the R3 banking network. The Ripple filing wanted the court to decide the invalid contracts, according to the time.

The news of the transaction came a day after reports of another blockchain collaboration, as Chain revealed that it would be acquired by Lightyear Corp., which is currently developing on the stellar blockchain.

"We were looking for a way to help our customers move projects we've worked from a private network to a public one," said Adam Ludwin, CEO of Chain. "When we started a few years ago, our customers were not ready for a public network, fast forward of three years, and their availability has increased, and the maturity of public networks has changed a lot."


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