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Ripple’s Asia expansion unaffected by SEC lawsuit, says CEO

Despite being in the middle of a $1.3 billion lawsuit with the United States Securities and Exchange Commission, it seems that it is still business as usual for Ripple.

Speaking to Reuters on Friday, Garlinghouse stated that the company has not suffered any negative blowback in the APAC business theatre amid the current SEC lawsuit:

“It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific.”

Garlinghouse attributed the absence of any fallout to the company’s good standing with regulators in the region, saying, “We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets.”

Japan and other APAC countries have historically been favorable for Ripple and XRP. Ripple is even part of a joint venture with Japanese conglomerate SBI Holdings to form SBI Ripple. The JV company is at the heart of many projects aimed at creating a Ripple-powered payment corridor in Asia.

Garlinghouse also played down the effects of U.S. exchanges delisting or halting the trading of XRP tokens. Over 200 platforms across the world list XRP trading pairs, according to the Ripple CEO.

As reported by Cointelegraph, both Garlinghouse and Ripple’s executive chairman, Chris Larsen have moved to file separate motions for the case to be dismissed. Attorneys for both company executives say the Treasury Department’s Financial Crimes Enforcement Network has previously classified XRP as a virtual currency.

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