San Francisco-based Ripple[1] has been trending of late thanks to the launch[2] of RippleNet[3]’s first live On-Demand Liquidity [ODL] service implementation in Japan. This expanded partnership will see SBI Remit connect with Coins.ph and digital asset exchange platform SBI VC Trade on RippleNet for faster and more affordable cross-border payments from Japan to the Philippines.
In fact, the said development helped XRP gain[4] by 6% in 24 hours, with the crypto trading[5] at $0.709, at press time.
RippleNet’s Asheesh Birla touched upon the same during a recent interview with Thinking Crypto.[6]
As the firm highlighted[7] in a recent blog post, Ripple is becoming a key player in APAC, with the region witnessing a growing e-commerce market, increasingly mobile populations, and more clarity towards cryptocurrencies. Ripple’s growing dominance has also seen its transaction volume surge by over 130% in a year.
A “banner year” for Ripple
What of its expansions plans though? According to Birla,
“It’s a fast-growing market and we’re well-positioned to capitalize on that. We’ve had a banner year in 2020 and we’re following up that with great success in 2021 on the heels of this news.”
The U.S market, on the contrary, is another matter altogether. The lack of regulatory transparency has proved to be a major obstacle over the past few years. The SEC’s lawsuit against Ripple Labs and its execs is perhaps the best evidence of this.
“U.S market is massive, it is innovative – it’s not a market we want to turn off and wait. So we’re going to look at a number of different ways to get the benefits that we’re seeing across the world here in the U.S.”
Even so, it’s worth pointing
