Home Cryptocurrency News Nevermind The Ripple Lawsuit: Digivault Becomes First Accredited Custodian To Support XRP

Nevermind The Ripple Lawsuit: Digivault Becomes First Accredited Custodian To Support XRP

The year 2021 can barely be described for Cryptocurrency in words. The value undoubtedly increased compared to the previous three years, but it ended lower. Traders expected far-fetched wonders to happen.

On the other hand, participation in the Crypto world increased. More traders entered the market, highlighting that a lot is still gained.

XRP experienced a downfall after it got dumped by Crypto exchanges and Crypto asset managers. This resulted from the Securities & Exchange Commission filing a lawsuit against XRP and its executives.

XRP’s Current Condition

It would be correct to say that the condition of XRP is like a boat that is floating in the ocean with no navigation coordinates.

The US Securities and Exchange Commission filed a lawsuit against Ripple and its executives on December 22, 2020. Since then, it got harshly dumped by Coinbase and Grayscale, to name a few.

Since the SEC vs. Ripple lawsuit began taking shape, Brad Garlinghouse and Chris Larsen have experienced a massive fall in the trading arena. The image of XRP is not what it used to be, and this is expected to continue until there is no ruling in the legal case.

For the time being, Digivault has entered into the picture to provide the much-needed navigation to XRP. It is a digital asset custodian with Cryptocurrencies like Bitcoin, Ethereum, and Polkadot already on its list.

Digivault cited that it has listed XRP on its board due to its higher demand in the market. With this, it has become the first-ever Nasdaq-listed Cryptocurrency exchange to extend a helping hand to the lost boat.

It comes with a handful of sophisticated investors and fund managers, along with several reputed family offices. The customer base of Digivault expanded to this height after it partnered with Asset Reality.

Robert Cooper took this opportunity to highlight that the value of digital assets must not be ignored. The Chief Executive Officer of Digivault added that the growth of his firm reflected the increasing awareness among traders about choosing the accredited and regulated service providers.

Both the factors are essential as there are many cases of increasing fraud and unwanted hacking activities.

Digivault Is A Savior

Digivault saved a Crypto player in the market when others neglected it, and it had lost its reputation. All of this was worth it, which is why it means the world to XRP and its followers.

The digital asset custodian has a large market in the United Kingdom, and it barely plans to operate in the United States of America. Additionally, it has succeeded in tapping the market of Singapore. Both the United Kingdom and Singapore are the hubs of Cryptocurrency trading.

It backs its operations with an enhanced certificate for communicating public keys, a backup system, and multi-factor authentication. Digivault uses FIPS14-2 validated hardware security modules, certified under ISO27001 standard.

Final Thoughts

XRP may have lost everything before facing the lawsuit, but Digivault has arrived like a hero. People are calling it a welcoming move to recognize XRP amid its legal battle with SEC.

If you plan to spend some time with XRP in the market, you can get more information here about its pricing and prediction.

Ray Buckler
Ray is a journalist and completed his journalism. He has an experience of 5 years as a senior journalist. He can be reached by email: ray@forexnews.world.

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