Ripple Expands in Asia

Ripple Expands in Asia

Blockchain payments financial technology company Ripple has reportedly announced the launch of a new office in Singapore.According to a report pub

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Blockchain payments financial technology company Ripple has reportedly announced the launch of a new office in Singapore.

According to a report published at cryptocoinnews.com, San Francisco-based start-up Ripple opened a new office in Singapore, one of the world`s trending financial hubs.

As explained by the article, Ripple has recently launched an office in India, a country popular as the largest remittance receiver.

The APAC region is experiencing trends that make it an ideal place for the company`s expansion.

“Well, there are several things going on right now. Singapore initiated G3 Immediate Payments, which replaced the eGiro system and provides real-time domestic clearing and settlement for low value transactions.”, as Ripple Labs Managing Director Dilip Rao said.

“Singapore—which has 5.5 million person population and the third highest capita income in the world — aims to become a tech hub of the world.”, he added as quoted by Ripple`s press release.

The executive commented that similar expansion will not happen in an EU-like region anytime soon.

“Clearly the world sees APAC as the future, dominated by China and India, but with a regional economy that will rival Europe in size.”, as Dilip Rao elaborated.

“Half the population of India is under 25 years of age, so they will reap what has been called the demographic dividend.  The US is already repositioning to engage Asia with the Trans-Pacific Partnership.  Singapore is bustling with European and UK bankers wanting to offer services to Asian enterprises.  So the future is here.”, he explained in the interview.

“We hope that Ripple can help build a strategic capability for the region to connect with the world and drive global economic growth over the next 50 years.”, according to him.

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