Another partner of the Ripple company jumped in support of Ripple Labs in the Ripple vs SEC lawsuit.
TapJets is a real-time private jet booking platform, which is scalable & efficient to use for customers. Under the partnership with Ripple, the company also supports highly efficient & fast payment options for clients alongside traditional fiat options.
On 18 May 2018, TapJets officially introduced crypto payment options in its platform following a community vote.
Recently TapJets submitted an amicus brief to support Ripple Labs in the Ripple vs the US Securities and Exchange Commission (SEC) fight.
TapJets explained that it uses XRP tokens in the payment options because accepting payments in direct fiat was not much easy for the company. This company also claimed that in some situations, it remains not easy to handle payment activities with conventional payment systems but Ripple (XRP) helps a lot.
Because of the lawsuit, the company is not able to use the XRP payment system because there are no XRP trade options. The company said that the airline’s share of XRP payments was 48%, before the lawsuit. And now the company can’t convert its XRP funds into fiat.
Ripple vs SEC
In December 2020, The US SEC filed a lawsuit against the Ripple company over the nature of the XRP token and back-end company operations.
Through the Lawsuit, SEC claimed that the XRP token is a security that should be registered with the SEC agency. The securities regulatory body also said that the company sold more than $1.2 billion worth of XRP tokens publicly and which is a violation of securities law.