In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace; In whom we have redemption - God has glorified his grace by giving us redemption by the blood of his Son, and this redemption consists in forgiving and delivering us from our sins; so then Christ's blood was the redemption price paid down for our salvation: and this was according to the riches of his grace; as his grace is rich or abundant in benevolence, so it was manifested in beneficence to mankind, in their redemption by the sacrifice of Christ, the measure of redeeming grace being the measure of God's own eternal goodness.
It may not be useless to remark that, instead of της χαριτος αυτου, his grace, the Codex Alexandrinus and the Coptic version have της χρηστοτητος, his goodness.