The Asia Pacific area, notably Singapore, has seen substantial development for Ripple, according to Rahul Advani, policy director for APAC at Ripple.
Speaking about Ripple’s expansion in Asia, Advani claims that the company is still utterly devoted to expanding abroad. In order to serve as the APAC headquarters, the Singapore office was created in 2017.
Since then, Ripple has shown sustained growth throughout APAC, making it one of its top-performing markets.
In its legal battle with the SEC, Ripple recently won a significant win for the cryptocurrency sector in the United States when a court determined that XRP sold on exchanges is not a security. Meanwhile, it was discovered that Ripple’s sales of XRP to institutional investors were really investment contracts.
Ripple said, as reported, that it is only beginning to pursue good crypto regulation in the United States. While it continues to battle for both itself and the cryptocurrency sector, Ripple says it will keep investing in nations with approved clear legal frameworks.
This choice is effectively paying off as Ripple expands outside of the United States. According to Advani, Ripple has quadrupled its staff in Singapore, and this year has witnessed a five-fold rise in volume.
According to the APAC policy director, the firm plans to maintain expanding its presence to meet the opportunities in the area.
The Monetary Authority of Singapore (MAS) granted Ripple regulatory clearance in principle earlier in June, thus all signs point to good news.
Ripple may continue expanding in Singapore and the rest of APAC with a licence on the way. According to Advani, this will facilitate and expand the adoption of ODL solutions in the area.
