Blockchain startups Ripple and R3 stop legal battles that lasted over a year, and came to an agreement.
Representative R3 confirmed the agreement for the English language edition CoinDesk email:
R3 HoldCo LLC, LLC R3, Ripple Labs Inc. and XRP II, LLC announce that they have reached agreement on all controversial issues. The terms of the agreement remain confidential and both parties look forward to the implementation of the agreement.”
Mutual claims it became known a bit more than a year ago when Reuters reported that R3 has filed a lawsuit against Ripple in connection with the refusal to perform the contract, which included the purchase of 5 billion XRP at a fixed price.
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Under the contract, R3 has received the right to purchase 5 billion XRP at a price of $0.0085 per token at any time until September 2019. At the moment the price of XRP is 0.26 U.S. dollar.
Ripple has stated that R3 did not fulfill his part of the agreement.
Ripple claimed that R3 was hiding the fact that some of its shareholders, including Goldman Sachs and Banco Santander, wanted to leave the group, despite the agreement on the promotion XRP in their respective companies.