Ripple Labs’ legal battle with the US Securities and Exchange Commission is still in full swing. The company behind XRP is now turning its sights on opportunities outside the United States and seems particularly interested in Europe. If we use believe the storythen Ripple Labs intends to establish itself in Ireland.

Ripple operates outside the US

Stuart Alderoty, resident attorney for Ripple Labs, said the company “effectively” operates outside of the United States. To settle in Ireland, you must Ripple Lab obtain what is called a Virtual Asset Service Provider (VASP) license. This will allow Ripple Labs to “passport” its services across the European Union.

In other words: if you manage to gain a foothold in Europe, you also have a license to serve the entire trade union. Further, the lawyer added that the company plans to obtain an electronic money license. Ripple is quite active in Europe, as earlier this week it shared another white paper with ideas for new legislation with UK lawmakers.

The end of the lawsuit is in sight

If it were up to Stuart Alderoty, the lawsuit with the SEC would be nearly over. “The beginning of the end has come,” the attorney said of the lawsuit with the powerful financial body. The judge’s verdict is expected during the first six months of 2023. Ripple was initially launched to help banks and other financial institutions send money quickly.

Where you often still have to pay a few percent on international transfers, Ripple’s technology should make it a lot cheaper. Now they have been promoting their technology for years and there has been no real breakthrough. The successful conclusion of a lawsuit can contribute to this.