Bitcoin

Bakkt CEO: No XRP support planned

The Bakkt CEO did not comment on why the company does not want to support the XRP and whether that is related to the current legal issues.

Bakkt, one of the largest cryptocurrency companies in the United States, will not support the XRP as part of its further product development, according to the CEO

On Jan. 11, Bakkt CEO Gavin Michael spoke on the Axios Re: Cap podcast about the mainstream adoption of Bitcoin ( BTC ) and other digital assets. Michael said Bakkt plans to want to support a number of altcoins on its platform in the future, but XRP is not among them.

Michael did not want to comment on whether the company decided not to include XRP on this list due to Ripple’s legal problems through a lawsuit filed by the US securities regulator.

„Just not on our platform,“ Michael explained. He added:

„We entered the crypto sector through Bitcoin, and that was also the first currency we offered. We have others that are to be added as part of product development. But XRP is not included.“
Shortly before, Bakkt had officially announced that it wanted to go public . On January 11th, Intercontinental Exchange, operator of the New York Stock Exchange and owner of Bakkt, announced a merger with VPC Impact Acquisition Holdings. This should enable Bakkt to go public.

Meanwhile Ripple fights against the action of the SEC that this end of December against the company filed . On January 8, Ripple CEO Brad Garlinghouse vigorously denied the SEC’s „unsubstantiated allegations“ , claiming his company was „on the right side of facts and history.“

Because of Ripple’s legal troubles, many crypto companies have denied XRP. On January 6, the crypto wallet provider and trading platform Blockchain.com announced their intention to remove XRP . The platform thus followed the example of Coinbase, Binance.US, OKCoin and others. However, some companies like Uphold have left the XRP on their platforms pending the settlement of the lawsuit with the SEC.