Ripple is a 100% security token. Pavel Matveev, CEO of Wirex, expressed his opinion at a conference in Barcelona. Of course, there are institutions that have the opposite view.
Ripple is a purely security token
Pavel Matveev, co-founder and CEO of Wirex, said Ripple’s XRP is 100% a security token.
Matveev made a presentation at the Barcelona Trading Conference 2019 for about 20 minutes. The title of his presentation was “World Tokenisation: Use Cases in the Financial System”. In his presentation, he mentioned the use cases of cryptocurrencies and explained the types of tokens available.
Speaking about security tokens, Pavel said:
XRP is a good example here which is a purely security token but is trying to be a payment token.
In the past, there was a serious debate about whether the XRP was a security token or not. Different experts expressed their views on this issue. Some argue that Coinbase and other crypto exchanges listed the XRP as showing that the cryptocurrency is not a security token.
Today’sGazette.com featured the opinion of the British financial regulator Financial Management Agency (FCA) and reported that the Ripple XRP and Ethereum were similar.
FCA provided regulatory services to more than 58,000 companies in the financial sector, noting that both could be both utility token and exchange tokens. According to this view, both XRP and ETH cannot be security tokens.
Meanwhile, CEO Pavel Matveev, who also spoke about stable cryptocurrencies, talked about Wirex’s stable coin co-operation with Stellar (XLM). In his presentation, he also mentioned Facebook’s decision to launch its own stable currency soon.
Matveev thinks that the future of money is in fiat stable currencies. Because they do not have problems facing other crypto coins.