We are adding Ripple (XRP) cryptocurrency to the Advanced Portfolios product

Based on recent events related to the Ripple (XRP) cryptocurrency, we have decided to reintroduce this cryptocurrency into the Advanced Portfolios product. As of today, you can choose Ripple from a wide selection of cryptocurrencies.

The Ripple cryptocurrency (XRP) was delisted from Fumbi products back in December 2020, when the dispute between Ripple and the US Securities and Exchange Commission (SEC) officially began. At that time, the SEC filed a lawsuit against Ripple Labs Inc. and some of its executives. The SEC alleged that the sale of the cryptocurrency XRP, of which Ripple Labs was the issuer, was illegal because XRP was an unregistered security, according to the Commission.

Ripple opposed the action, arguing that XRP is a cryptocurrency and thus should not be considered a security. The company argued that XRP is different from traditional securities and that its distribution and use is not under the company’s control. The dispute between Ripple and the SEC has dragged on for over 2.5 years.

A few days ago, however, Judge Analisa Torres, who was in charge of the case, handed down a partial ruling in the dispute that XRP cryptocurrency sold to retail investors on exchanges was not an offering of unregistered securities. However, in the case of the offering of XRP to institutional investors, the judge ruled that it was a sale of unregistered securities.

The ruling that XRP, when sold to retail investors on exchanges and through algorithms, is not a security sets an important precedent for further litigation, as the SEC has accused several crypto projects in the past of offering to sell unregistered securities. Many consider this a victory not only for Ripple, but also for the crypto industry as a whole, as this ruling may have a positive impact on other cryptocurrencies and how they are perceived by regulators.

Create Your Own Portfolios

Creating your own investment portfolio has several benefits. First, it allows you to tailor your investments to your own preferences. For example, you can choose to invest in potentially high-growth assets if you’re looking for maximum returns, or in more conservative assets if you’re looking for stability. 

Additionally, creating your own portfolio allows you to diversify your investments across different types of cryptocurrencies, sectors and industries they represent, which can help to spread risk and manage volatility.

You can choose from over 50 cryptocurrencies in the Advanced Portfolios product. From those, you can set up a variety of portfolios and choose shares for each cryptocurrency.