Pierre Gramegna, Luxembourg’s Minister of Finance, has signaled the acceptance of Ripple (XRP) in his country, giving the token’s users and investors the hope of its full adoption in Luxembourg and other European countries.
Few days after Ripple’s XRP was handed security clearance by the Luxembourg Private Equity and Venture Capital Association(LPEA), Gramegna hinted on the acceptance of Ripple blockchain technology in the country.
The Finance Minister shared a photo of himself exchanging pleasantries with Chris Larson, the Executive Chairman and Cofounder of Ripple, on twitter. Gramegna, in the update, gave his assurance on the possible growth of Ripple (XRP) in Luxembourg and other European countries.
“Excellent exchange of views with Chris Larsen. Looking forward to the further development of Ripple in Luxembourg and Europe”, Gramegna stated.
Luxembourg Shows More Interest In Ripple (XRP)
In another update, the Minister disclosed the ministry’s interest in cryptocurrency and blockchain technology.
“Good exchange of views with Ross Leckow, Deputy General Counsel IMFNews on the legal and regulatory frameworks governing fintech, blockchain and cryptoassets, together with naszub, LU member of the advisory board”, Gramegna related.
Added to Ripple’s embrace in the country, the University of Luxembourg confirmed its participation in a Ripple funded research program at the University Blockchain Research Initiative.
Luxembourg Private Equity Says Ripple Not A Security Token
A paper released by the Private Equity and Venture Capital Association in Luxembourg (LPEA) affirmed that Ripple’s XRP is a Payment Token and not a security token.
The paper classified XRP and Bitcoin in the Payment Token categories with claims that both assets can be used for value transfer as well as means of money for immediate transactions.
LPEA said Payment Tokens have no specific issuer; therefore, “token holders have no right to claim against the issuer of the token.”
Ripple (XRP)’S Charity Scheme Boosting Coin Reputation
Chris Larsen’s record donation of 25 million Dollars in Ripple’s XRP to San Francisco State University (SFSU) has been viewed as a factor which will probably boost Ripple’s reputation worldwide.
#SFSU alumnus @chrislarsensf and his wife Lyna Lam have given a $25 million gift to SF State, believed to be the largest gift ever made in a digital asset to a U.S. university. The gift pushed the University's BOLD Thinking Campaign over the $136M mark. https://t.co/PktkKPKQxE pic.twitter.com/Ix1HgGPGex
— SF State (@SFSU) April 6, 2019
It is clear that Larsen is resilient in his quest to give Ripple and its native token, XRP, global attention and adoption. However, the gesture given by the Luxembourg’s Minister of Finance, Pierre Gramegna, can be bigger than expected.