R3 and Ripple came to an agreement on the case of 5 billion XRP

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r3 and ripple

The consortium R3 and Ripple announced that they have concluded an agreement “on all current court cases”, therefore burring the war axes.

All claims between R3 HoldCo LLC, R3 LLC, Ripple Labs Inc, and XRP II LLC were withdrawn.

Representatives of the companies stressed that all details of the agreement will remain a secret and both sides of the conflict hope to resolve all the disputes between themselves.

The claims of the R3 consortium to Ripple Labs were filed in September 2017 in Delaware and New York. The blockchain start-up was accused of violating the agreement between the companies to purchase the digital currency XRP. This is a contract item that allows R3 to buy 5 billion XRP coins at a fixed price of $0.0085 at any time until the end of 2019.

However, the Delaware court dismissed the claim. Also, the appeal of Ripple, filed in San Francisco, was rejected.