Ripple To Expand Its Business In China
August 20, 2018 1:25 pm
Ripple is one of the speedily growing companies in the world. A huge number of banks and companies have collaborated with the firm for different payment method. Recently, Ripple endorsed three digital currency exchanges to transact with its xRapid payments service, which uses Ripple (XRP).
The three crypto exchanges, Bittrex, Bitso, and Coins.ph are Ripple’s “preferred digital asset exchanges.” The endorsement proposes to build the XRP ecosystem.
Cory Johnson, Chief Markets Strategist Ripple, told that the company is appreciating all of its clients in the U.S., Mexico and the Philippines. The firm is informing those countries to use these three crypto exchanges. The endorsement also includes provision for sending funds using its xRapid service.
Recently, Jeremy Light, a Ripple executive had an interview with CNBC. Meantime he said that Ripple is focusing on expanding the business to China.
The executive said:
“China is definitely of interest; it is definitely a target. China is definitely a country and region of interest.”
Through making an entry into the Chinese market, Ripple’s focus will be on advancing the adoption of cryptocurrency XRP, as Beijing has prohibited trading of virtual currencies. China last year banned initial coin offerings (ICOs).
Mr. Light revealed that Ripple would be focusing on the Chinese market. The target will be initiated distributed ledger technology that is designed to speed up cross-border payments.