Last year CEO brad Ripple Arlinghaus said that the launch in China close, but as we see now, it was postponed indefinitely. Now in Ripple are confident that by the end of this year in the Chinese market is their payment solution based on the technology of the blockchain will grow.
The company conducts informal negotiations with regulators, banks and suppliers payments on the occasion of the launch of its software XCurrent in China, which will allow banks to instantly to carry out cross-border payments through end-to-end tracking, without the use of cryptocurrencies.
For example, recently the head of the Ripple in the Asia-Pacific region Sagar Sarbhai confirmed that the lack of regulation in the field of blockchain and cryptocurrency in China is the main reason for the long run, but added that the company is already developing an exit strategy on the market, but to talk about the full output is still very early.
Another problem associated with entering the Chinese market, is the Chinese control over the movement of capital, which in recent years limits the number of companies that can transfer payment from China.
Despite this, Surbhi says his positive attitude toward China and that the country is an important part of the strategy for Asia and the Pacific, Recalling the cooperation with the banks of Japan, which was launched the app for instant calculation of transaction MoneyTap. Also, despite the lack of a launch in China, Ripple was able to test the technology RippleNet in Hong Kong, thanks to the cooperation with the service on money transfers LianLian.
Surbhi also does not exclude the possibility of the event, a competing conference, Sibos, which will be held in Sydney in October. Ripple’s not doing it for the first time. For example, last year, the company was organized simultaneously with the flagship SWIFT conference in Toronto. Within weeks an entire fleet of vehicles from Ripple was parked on the Parking pad Sibos, ready to transport people between the two events.
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