>>60844398
>Wait on finality

This is exactly what was said. That is where the 3-5 seconds finality come from, settlement using XRP. Interledger scales the XRPL. Clearing takes less than 2 seconds and settlement takes 3-5 seconds. The processes are coincident, not additive, from origination, so clearing finishes in less than 1-2 seconds (let's say 1-2 seconds firm, taking the absolute upper bound which is least glamorous to the XRP case) and finality comes 1-3 seconds later.

>exchanges

No it isn't; They sell directly avoiding structures that resemble investment contracts and sell under compliant structures through Regulation D exemptions (since SEC waived their disqualification) or other arrangements, like structured, automated sales through exchanges to customers, not to public bid/ask retail. They don't sell to retail, they use exchanges as a transmission vector to clients they have institutional agreements with. Ripple have not sold to exchanges since the early part of their lawsuit years ago. They are not barred from selling to institutional clients; They just need to do so in mechanically particular ways or use a different paperwork doing so.

t. Corporate lawyer, priorly SEC lawyer for a short stint