Ripple has made a strategic move into derivatives and blockchain integration in traditional finance (TradFi) by joining the International Swaps and Derivatives Association (ISDA), along with industry giants like BlackRock and JPMorgan.
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The San Francisco-based blockchain company, Ripple, recently became a member of the prestigious trade organization, ISDA. Crypto Eri, a well-known influencer in the XRP community, took to Twitter to announce this development and emphasized the significance of Ripple’s alignment with ISDA.
This move signals Ripple’s further involvement in the financial industry and its efforts to explore new opportunities in derivatives and blockchain technology.
👀@Ripple has joined ISDA. 💯FOCUS: DERIVATIVES.
Officers from BlockRock, Société Générale et al, directors J.P. Morgan, CME Group, Citi, Goldman Sachs, BNY Mellon, London Stock Exchange, BofA, Intercontinental Exchange et al. 1000+ Institutions are members / 79 countries.… pic.twitter.com/bRMResT7cg— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) August 4, 2023
Ripple’s alliance with the International Swaps and Derivatives Association (ISDA) signifies their strategic entry into the derivatives realm and their intention to integrate blockchain technology into traditional financial markets.
Notably, ISDA has an impressive membership roster consisting of global financial elites from major institutions such as BlackRock, Société Générale, J.P. Morgan, CME Group, Citigroup (Citi), and Goldman Sachs, among others.
Crypto Eri highlighted this significant development on Twitter and tagged Ripple’s Public Policy Officer, Rahul Advani, who serves as the contact person for the firm in this context. This move reflects Ripple’s growing involvement in the financial industry and its pursuit of exploring opportunities in derivatives and blockchain integration.
Ripple becomes a member of ISDA
Ripple has joined ISDA as an Associate Member, a category that includes entities crucial to the derivatives markets infrastructure, like technological solutions providers, exchanges, and clearing establishments.
Derivatives are financial instruments that gain value from an underlying asset, such as cryptocurrency, and are used for risk hedging, speculation, or leverage.
Other crypto-related entities like Algorand (ALGO) and Crypto.com exchange also hold ISDA associate membership.
The XRP community showed excitement about this development, which follows Ripple’s significant legal victory against the US regulator.
ISDA
ISDA is a financial organization that plays a crucial role in the derivatives and swaps markets. It standardizes contracts, provides clarity on legal matters, and guides participants through the dynamic changes in the market.
Headquartered in New York City, ISDA has a global presence in 79 countries. It holds significant influence over the derivatives market, which includes various financial instruments linked to underlying assets.
The organization acts as a conductor, bringing together agreements and facilitating smooth operations in this financial sector.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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