Ripple Inc continues to focus on expanding its services and penetrating new markets. Having conquered many customers throughout America and Europe, Asia seems to be the last strategic point of interest of the company.
Asia is a complex market for many companies, even more so if they provide services like those of Ripple that are still viewed with some skepticism by regulators. China, for example, has demonstrated an anti-cryptography policy despite being one of the main OTC Bitcoin trading markets.
Previously, Crypto Crimson reported that after a series of negotiations, Ripple has reached its goal of settling in China, and has done so in style: thanks to a partnership with LianLian Group and American Express, this company will allow the credit card processing payments in a proprietary network –contrary to the traditional system that used the government network.
On Friday (November 30, 2018), at the summit of CryptoCompare and MJAC London Blockchain, Dan Moran, Head of Regulatory Relations for Europe at Ripple, did not mention Ripple's interest in Asia, but he showed the 39; other side of the coin. For Ripple it is now increasingly evident that the Asian market is interested in technological solutions such as those provided by them:
"We are at the beginning, but we see the biggest appetite in the Asian markets, in terms of demand, as well as the demand for remittances, if they are underestimated corridors because the bank correspondence system is too expensive … So, we feel that c & # 39; is a question. "
For Mr. Morgan, Ripple can be instrumental in providing liquidity solutions that optimize the functioning of the markets. Until now, solutions such as xRapid and even the processing of transactions using XRP cryptocurrency have been increasingly adopted by the Asian market:
"Liquidity, in terms of digital assets, most of the liquidity we have … is in the Asian markets at some distance".
He also commented that Asian markets must have greater clarity regarding the legislation that governs not only cryptocurrency markets but also blockchain technologies. He also mentioned that Thailand is one of the key countries for the expansion of Ripple in the Asian continent:
Again, we see a number of pockets in Asia where we are further ahead than we are here … Thailand, I spoke. Obviously, Japan is another place …
So, you're absolutely right, it's Asia. I would not like to define the exact markets … In Thailand, for example, with that regulation, I think Siam Commercial Bank … is really active now in terms of settlements, activities of digital resources ".