Ripple plans to take its business in the field of cross-border payments in the Chinese market. This is with reference to Jeremy light (Jeremy Light) Vice-President strategic directions Ripple in the EU, according to CNBC.
During a telephone conversation with the correspondent of the edition Lite confirmed that Ripple China is definitely “country and region of interest”.
In part, the company already develops the tendency, previously Ripple has partnered with Hong Kong financial firm LianLian International, specializing in the movement of cross-border payments between the US, Europe and China. About whether LianLian started to use Ripple payment solutions are not yet known.
Currently, the presence of Ripple in Asia is concentrated in Japan. In March, the startup introduced an application for automatic permanent settlement of domestic payments, Money Tap. To the network apps are already connected 61 a Japanese Bank. Access to the Chinese market potentially give Ripple the ability to enter into agreements with local giants of e-Commerce and telecommunications, such as Alibaba and Tencent.
Among the partners of Ripple in Europe — Santander, UniCredit, UBS and Standard Chartered; in July the first Vice-President of the production Department Rippe Ashish Birla (Asheesh Birla), said about 50 per cent coverage of the company in the cryptocurrency market of India. Then the Ripple grew on the overall growth of the customer base — despite a significant reduction in profits.