“In whom we have redemption through His blood, even the forgiveness of sins.” Colossians 1:14.
"Having redemption through His blood is synonymous with the forgiveness of sins. We are said to be justified by grace—by Christ—by faith; and here believers are said to be justified by His blood—His sacrifice, which is at once the great object of faith, and the channel through which faith and every other spiritual blessing is imparted to the people of God. It has been already observed, that nothing but guilt prevents the love of God from flowing to His creatures. Christ cancelled the guilt of His people—redeemed them from the curse, and the never failing consequence is, their inheriting a blessing; their guilt is expiated, and, being justified BY HIS BLOOD, much more shall they be saved from wrath through Him; for all power in heaven and in earth is committed to Him, that He may give eternal life to those whom He has ransomed with His blood. For He is seated on His mediatory throne, and in their successive generations He calls them by His grace, guides them by His counsel, and afterwards receives them to His glory." -- James Haldane