Gavin Michael, CEO of regulated platform Bakkt, said he has no plans to add support for XRP and include the token in the exchange’s trading suite.
The head of Bakkt said this in an interview, which discussed the mass adoption of bitcoin and other digital assets. Bakkt plans to add support for multiple altcoins in the future, however XRP is not among them. Michael did not explain the reason for the decision and declined to comment on whether it was related to Ripple’s litigation with the US Securities and Exchange Commission (SEC).
“We entered the cryptocurrency space through bitcoin. It was the first crypto asset to be made available on our platform. We plan to use other digital assets, but we will not consider XRP, ”Michael said.
In the midst of legal troubles that Ripple is trying to resolve, many marketplaces have stopped trading in pairs with XRP. These include Blockchain.com, Coinbase, Binance.US, and OKCoin. Ripple CEO Brad Garlinghouse has denied the SEC’s “no proof” allegations and said “the truth is on his side.” However, there are firms willing to continue working with Ripple, despite the negative atmosphere around this cryptocurrency. Payment startup Uphold has said it will keep XRP on its platform pending Ripple’s SEC litigation.
Bakkt previously announced that it is in talks to merge with VPC Impact Acquisition Holdings, which will allow Bakkt to enter the stock market.
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