Ripple expands into Asia and the Middle East as it partners with more banks to take the lion share in the market. The Managing Director of Ripple in India, Southeast Asia, the Middle East and North Africa, Navin Gupta reveals the strategy the company is taking in capturing the market in the middle east and Asia in an exclusive interview with TechCircle.
He also talked about the superior quality of Ripple, and why it will replace SWIFT. Mr. Gupta in the interview explained the reason for the establishment of a branch of Ripple in India recently.
On this, he said partnering with the top three banks in India would give them the 80% share of the market and the estimate of one billion people getting banked in India in the next five years and they will bank through their phones. To take a substantial share of the market, the company is partnering with banks and telecom company.
Ripple XRP Ledger is a real-time gross settlement system (RTGS) and remittance network. It enables secure, instantly and nearly free global financial transactions of any size with no chargebacks.
The unique feature of XRP makes it compete with the Society for Worldwide Interbank Financial Telecommunication, better known by the name SWIFT, a 60 years old banking system. As the XRP aims to have a share of the $70 billion remittance market dominated by SWIFT, Gupta spoke of the quality of Ripple. Read more from bitcoinexchangeguide.com…
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