Could Ripple's $200 million acquisition make it a force to be reckoned with in the stablecoin market?

The SEC’s lawsuit against Ripple, filed in December 2020, alleges that the company illegally raised funds through XRP sales without registering the asset as a security.

The Rail acquisition is a way for Ripple to delve deeper into the fast-growing stablecoin ecosystem after launching its RLUSD stablecoin.

A wallet belonging to Ripple co-founder and executive chairman Chris Larsen transferred $26 million in XRP to the Coinbase (Nasdaq: COIN) crypto exchange on July 15, as per a recent DL News report.

The reason is that Ripple has spent the last several years in a legal whirlwind with the SEC, which alleges the company is selling XRP as an unregistered security.