Ripple has announced that it has expanded its global footprint with a new office in Singapore. This comes just a few weeks after the company opened an office in Mumbai, India, showing its commitment to strengthening its exposure to Asian markets.
Ripple explains this was done to support its growing customer base across Asia-Pacific markets – including Standard Chartered, a Ripple investor, member of the RippleNet Advisory Board, and early adopter of blockchain technology to power payments. The company also reports that it is already seeing huge demand for enterprise blockchain payments solutions from local banks, as well as payment providers and corporations across the region.
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Dilip Rao, Managing Director of Ripple APAC, said: “Singapore is leading the charge when it comes to streamlining money exchange, remittance and payments systems. In fact, one of the key themes raised during the Prime Minister’s recent National Day Rally was the importance of digitizing payments in the country’s aim to become a Smart Nation.
“Our new office can support this ambition and equally brings us closer to our customer base across the Asia-Pacific region, enabling banks, payment providers and corporates to make instant payments into-and-out of the country using blockchain. As a leading trade and fintech hub, Singapore offers Ripple leverage in the region as we expand our global footprint,” he added.