What does the Bible say about Christ's ransom for our sins?

The New Testament emphasizes that Christ's death was a ransom payment to free us from the bondage of sin and death. In Matthew 20:28, it clearly states, 'The Son of Man came not to be ministered unto, but to minister, and to give his life a ransom for many.' This signifies that His sacrificial death fulfilled the requirements of justice, allowing sinners to be reconciled to God. Therefore, Christ’s payment was not just a substitution but a necessary fulfillment of God's righteous demands for sin.