Ripple’s Dan Morgan sees Huge Potential in the Asian Markets for Growth
This Friday, Ripple’s Head of Regulatory Relations for Europe, Dan Morgan took part in CryptoCompare & MJAC London Blockchain Summit‘s regulatory panel discussion.
He made comments about Ripple‘s focus on expanding its services and increasing their presence in new markets like Asia and Latin America having conquered most of America and Europe.
— MJAC2018 (@mjac2018) November 30, 2018
During the Q&A, Dan was asked on his thoughts about regularity clarity in world markets and the reasons for Ripple’s strong presence in Asia and Latin America. He said:
“It’s very early days, but we see the biggest appetite in Asian markets, in terms of demand, so remittance demand, whether it is corridors that are under-served because correspondence banking is too costly… So, we feel that there is demand.”
“Liquidity, in terms of digital assets, most liquidity we have… is in Asian markets by some distance.”
He went on to add that Asian markets needed more clarity on the legislation that regulates not only markets related to Cryptocurrency, but Blockchain as well. He went on to praise Thailand for playing a key role in their expansion efforts. He added:
“And regulatory certainty is the third [factor]. Again, we see a number of pockets around Asia where they are further ahead that we are here… Thailand, I talked about. Obviously, Japan is another place.”
“So, you are absolutely right, it is Asia. I wouldn’t want to pin down exact markets… In Thailand, for instance, with that regulation, I think Siam Commercial Bank… is really active now in terms of settlements, digital assets activity.”
Ripple is no way near slowing down with the entire Asian and Latin America markets up for grabs. With improved legislation, Ripple will continue to expand across all emerging markets.
Image Courtesy: Unsplash
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