Ripple first conducted XRP buyback

Ripple first conducted XRP buyback


The company Ripple first reported on the buyback of XRP coins: in the third quarter of 2020, Ripple bought out XRP for $ 46 million, in addition to those already stored in the company’s wallets.

In its Q3 2020 report, Ripple writes that the decision to buy out XRP was made to “maintain a healthy market.” This is most likely about attracting interest in the cryptocurrency and increasing its market value. It is possible that the XRP buyback will continue.

“In the long term, we will develop new features in our ODL solution to allow customers to receive liquidity from the entire market, not just from Ripple’s stocks,” a company spokesman said.

But the reporting contains other transactions: in the third quarter of 2020, Ripple sold XRP in the amount of $ 35.84 million to institutional investors.

Recall that Ripple is now considering options for moving its headquarters from the United States due to regulatory uncertainty. Great Britain and Japan were named as the most likely jurisdictions.

Ripple CTO David Schwartz recently said that there is little incentive for financial institutions to adopt XRP right now, but this will gradually change.


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