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Metaco’s CEO Treccani highlights that the cooperation with HSBC was not a quickly developing process after Ripple purchased the company. It turns out Metaco has been in contact with HSBC for over 18 months. While Treccani admits to an indirect correlation between the Ripple protocols and Metaco’s banking customers, he notes that the success of both companies affects each other. Metaco and HCBC Partnership is going on very well.

Treccani says, “Adoption of Ripple and Metaco encourages the adoption of the XRPL protocol. Ripple’s successes mean success for the XRP Ledger.” He adds that the service provided to HSBC involves not only infrastructure but also support in areas of tokenization lifecycle, payment methods, and liquidity management.

However, after the sale of Metaco, it was reported that some banking customers were worried and wanted to move their services to other banks. This concern is due to Ripple’s dispute with the U.S. Securities and Exchange Commission (SEC).

While Treccani notes that some of the speculation is “ too crazy,” he emphasizes this development will not bring any changes for customers. He points out that large banks like HSBC are searching for robust digital asset storage technology in the world of tokenization. Treccani predicts the adoption of cryptocurrencies is a process and many banks will embrace these currencies over time.

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In his share on social media platform X (formerly known as Twitter), Alderoty expressed their appreciation for Peirce’s stance against injustices.

Alderoty stressed the importance of ignoring standard protocols and voicing concerns in cases where consumers are still expecting a solution and emphasized the ongoing injustices in cases not related to fraud.

It is stated that SEC Commissioner Peirce criticizes the sanction actions taken against cryptocurrency exchanges and advocates the need for more transparency on this issue.

The decision that LBRY took due to its violation of the Securities Act of 1933 had resonated widely in the crypto world. LBRY’s decision to shut down shows the impacts of the SEC on crypto projects.

The XRP community had supported LBRY due to the lawsuit that resulted in favor of the SEC. Pro-XRP lawyer John Deaton stated that he did not approve of the SEC’s actions, emphasizing the importance of an insider speaking in court.

The support statements of Ripple and the XRP community to Peirce once again bring to the agenda the importance of regulatory developments and understanding of justice in the crypto world. The LBRY case carries the feature of being a turning point for crypto projects and may continue to affect future regulatory discussions.

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The post Ripple and XRP Community Oppose SEC Executive! appeared first on Coin Engineer.