Bakkt, one of many largest cryptocurrency firms in the US, won’t help XRP as a part of its additional product growth, in line with the CEO.

On Jan. 11, Bakkt CEO Gavin Michael sat down with the Axios Re:Cap podcast to discuss the mainstream adoption of Bitcoin (BTC) and different digital belongings. Michael stated that Bakkt is planning to roll out help for various altcoins on its platform sooner or later, however XRP shouldn’t be certainly one of them.

Michael declined to touch upon whether or not the corporate determined to avoid XRP resulting from Ripple’s authorized points sparked by a lawsuit from the U.S. Securities and Alternate Fee. “Simply not on our platform,” Michael acknowledged, including:

“We entered the crypto area via Bitcoin, and that was our first forex we’ve made accessible. We have now others which can be scheduled to return on board as a part of the product growth. However XRP shouldn’t be accessible.”

Michael’s remarks on XRP observe the official announcement of Bakkt’s plans to go public. On Jan. 11, the Intercontinental Alternate, the operator of the New York Inventory Alternate and the proprietor of Bakkt, introduced a merger take care of VPC Impression Acquisition Holdings to permit Bakkt to launch on inventory markets. 

In the meantime, Ripple is combating the SEC’s $1.3 billion lawsuit introduced in opposition to the agency in late December. On Jan. 8, Ripple CEO Brad Garlinghouse strongly denied the “SEC’s unproven allegations” and claimed his agency is “on the precise facet of the information and of historical past.”

Within the midst of Ripple’s authorized issues, many crypto firms have determined to delist XRP. On Jan. 6, crypto pockets supplier and buying and selling platform Blockchain.com introduced it was eradicating XRP, following within the steps of Coinbase, Binance.US, OKCoin and others. Nevertheless, some firms like Uphold most popular to maintain XRP on their platforms till the SEC lawsuit is resolved.