Home / Crypto News / Ripple Manager: Asia's markets are the most in demand by Ripple XRP

Ripple Manager: Asia's markets are the most in demand by Ripple XRP

image

Ripple Labs continues to focus on expanding its service offering and expanding into new markets. So Ripple has already succeeded in attracting many customers in America and Europe. Strategic expansion into Asia therefore seems to be the next logical step.

Asia is a complex and multi-layered market for many companies. This is particularly true, as the regulators there regard the offered crypto services with some skepticism. For example, China is taking a negative stance on cryptocurrencies, while at the same time being one of the largest markets for off-exchange Bitcoin trading.

After a series of negotiations, Ripple Labs took a first, indirect step in China. Through a partnership with the LianLian Group and American Express, the company can now handle credit card payments through its own network. This is in competition with the traditional system, which is based on a government-operated network.

At the recent London-based “MJAC 2018” crypto-conference, Ripple's Dan Morgan commented on why Ripple is so present in Asian markets. Morgan is the head of Ripple's Regulatory Relations Division in Europe. He explained:

“It's still very early, but we're seeing the biggest demand in Asian markets. It's about demand for money transfers, be it because of underserved corridors, because correspondence banking is too expensive … we therefore believe that there is a demand. “

Ripple as a liquidity solution

Morgan saw Ripple as a liquidity solution to optimize the markets. Previously, solutions such as xRapid and even transaction processing via Ripple XRP would be increasingly adopted by Asian markets. So he said:

“The highest liquidity in terms of cryptocurrencies, we have … some distance in the Asian markets.”

He explained that the Asian markets, however, need more clarity in terms of legislation. It is not just about the laws regulating the crypto markets, but also about those for the blockchain technology. He also noted that Thailand was one of the key countries for the expansion of Ripples on the Asian continent. He stated:

“Here again we see a series of islands [advanced countries] in Asia that are much farther than we are here … I've already talked about Thailand. Japan, of course, is another such place … So you're absolutely right, it's Asia. I do not want to highlight any special markets … in Thailand, for example, with its regulation, I believe that Siam Commerical Bank is now very active in terms of cryptocurrency settlements. “

Sources: Global Coin Report, Blockmanity, Twitter, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-manager-asiens-maerkte-fragen-ripple-xrp-am-meisten-nach/

Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for entertainment and information purposes only. We are not an investment advisor and do not provide financial advice.

We can not review all articles posted on CoinNewsDesk.com. Please independently research and verify any information here before relying on it as fact. It's also important to do proper due diligence and analysis, including consulting a professional financial advisor. No content on Coin News Desk makes any recommendation to enter into any type of investment or engage in any investment strategy on this website.

About Coin News Desk Team