Ripple determined to expand its business in China



Ripple is one of the most controversial companies on the cryptographic sphere. His corporate philosophy, as well as the programming behind his blockchain solutions, have generated intense debate in the cryptic community, arousing strongly antagonistic opinions about his image.

  xRappid The company, whose growth has allowed it to manage the third most important token in the global market, has made a name for itself in the financial environment thanks to a series of partnerships strategic players with essential players ranging from payment processors to central banks around the world.

At the beginning of this year, Ripple Inc. signed an agreement that could represent an important opportunity for expansion in the Asian market allowing the Hong Kong financial services company LianLian International to use its own platform to process cross-border payments.

However, in a recent interview for CNBC, a ripple the executive said he is going even further, wishing to expand his services in mainland China:

"China is certainly of interest, it is defined It's a goal, "Jeremy Light, vice president of European strategic accounts at Ripple, told CNBC in a telephone interview. "China is certainly a country and a region of interest".

Mainland China: a difficult market for ripple (or any other cryptography)

The Chinese market is one of the most important commercial ecosystems in the world; however, the country is known for its strong policies against the use of cryptos that could jeopardize the stability of the local fiat currency (a case similar to what is happening in Turkey).

XRP: Ripple & # 39; s Cryptocurrency

Last year, China banned ICOs as a measure to stem the rising wave of online scams and non-traditional funding mechanisms for start-ups and companies that otherwise would not be able to comply with traditional regulations.

Currently, Ripple has attracted the attention of over one hundred financial institutions around the world, many of them with business or interests in China. Santander, UniCredit, UBS, Western Union and Standard Chartered are some of the most important examples

A Great Oportunity

However, China is one of the leading countries in payment processing platforms despite the low penetration of blockchain alternatives such as provided by Ripple. Alipay and WeChat Pay currently dominate this market.

Having a key role in the Chinese financial market would allow an increase in the capitalization of XRP. Ripple has not yet revealed his efforts to penetrate the Chinese market, however, the team usually advertises when a partnership is successfully closed without elaborating too much in the previous steps before closing such agreements.

Right now XRP has a total capitalization of $ 13.532.272.192 USD or 2.083.326 BTC, with a price of 0.343699 USD per coin according to coinmarketcap.com

Graphic: coinmarketcap

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