• Nium, a Ripple partner, is preparing to enter European markets

  • Nium, a Ripple customer, is in talks to make a $400 million acquisition to accelerate further expansion in Europe, according to CEO and co-founder Prajit Nanu. Nium, a Singaporean finance business, uses Ripple’s blockchain technology to offer remittances in the Philippines and Mexico corridors. Thanks to RippleNet, Nium is apparently the first in the APAC area to offer corridors from North and South America to numerous Southeast Asian countries. Nium’s presence in Australia, Singapore, and Malaysia has also grown as a result of additional network connections.

    Ripple is expanding throughout Asia Pacific, with Korea as the next target. According to Rahul Advani, Ripple’s Asia-Pacific policy head, the company intends to approach the Korean market aggressively this year. “Ripple is very interested in the Korean market,” the senior executive said on April 27 at the “The Future of Blockchain and Digital Assets in Korea” conference held by Ripple, GBC Korea, and Oxford Metrica.

    Advani further indicated that the pending Ripple-SEC case has no bearing on Ripple’s remittance platform, notably On-Demand Liquidity (ODL).

    Recent developments in the Ripple SEC lawsuit

    Judge Analisa Torres of the United States District Court for the Southern District of New York recently established a briefing schedule for Ripple and the United States Securities and Exchange Commission in a recent judgment.

    On April 29, the parties submitted to the court for approval a common proposed schedule. Judge Torres ordered that all motions excluding expert witness be fully briefed by the end of August after considering the parties’ correspondence.

    Any summary judgment motions must be submitted before September 2022. Ripple and the Securities and Exchange Commission will have about a month to file their objections and motions.

    Motions for summary judgment must be fully briefed by Nov. 15, a month earlier than the parties’ previous deadline.

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