TapJets against judge: “XRP must remain as an alternative to fiat money”

TapJets is an airline that offers flights with private jets and where the XRP token from Ripple Labs plays an important role. Now you have probably heard that Ripple Labs is at odds with the US financial regulator about the nature of the XRP token. TapJets therefore also has an opinion about that discussion.

What is going on?

The Securities and Exchange Commission (SEC) believes Ripple Labs’ XRP token qualifies as a security under US law. That basically means that according to the SEC, there is a certain profit forecast attached to the token. A profit forecast that places the XRP token in the same tray as stocks.

There is nothing wrong with that in itself, were it not for the fact that you cannot simply offer shares to the public. As a company, you are not allowed to just offer your shares on the market. To do this, you have to comply with certain rules, have your company financially audited and inform investors. This is a costly process that is primarily aimed at protecting investors.

In addition, most crypto exchanges do not have the correct licenses to list securities. Should the XRP token actually qualify as a security, parties such as Coinbase, Kraken and Binance must remove the token from the platform. That would of course be dramatic for the race.

TapJets disagrees

TapJets is a company that uses the XRP token and certainly does not agree with the SEC’s ruling that the token qualifies as a security. According to TapJets, it is an alternative to fiat money and the currency is often used when normal banks are closed. If they want to get people to pay quickly for flights on weekends, they often use the XRP token as an alternative payment method.

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They call it the “Friday night problem”, because the traditional fiat system is more difficult when people want to book a flight on weekends. According to TapJets, XRP and other cryptocurrencies offer a solution for this. TapJets describes XRP as a proven and reliable payment method, which many customers of the company choose.

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