Ripple, R3 Agree to End Court Battle Over Five Billion XRP Tokens
Cryptovest
Published Sep 11, 2018 03:01PM ET
Updated Sep 11, 2018 04:20PM ET
Ripple, R3 Agree to End Court Battle Over Five Billion XRP Tokens
Ripple, the company that develops XRP cryptocurrency, and R3 Corda, the blockchain consortium of David Rutter, have signed an out-of-court agreement over a purchase clause in the 2016 agreement that gave R3 options to buy 5 billion XRP tokens, Ripple said in a press release on Monday. At the time of signing, the contract the price of XRP was very low, but it rose significantly in 2017 and 2018, and currently, 5 billion XRP tokens equals more than $1.3 billion.
The out-of-court settlement means that the lawsuits between R3 and Ripple will be closed.
“R3 HoldCo LLC, R3 LLC, Ripple Labs...
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