Tech

After MENA and APAC, this is the region Ripple could be looking at next

04/22/2022
Bitcoin Ethereum News

Ripple, the San Francisco-based blockchain company, has admittedly seen more success and received warmer welcomes abroad than within the USA. So naturally, many investors and XRP-holders want to know where the company is looking at next to launch new projects and partnerships. And to that end, a statement by the company published on 20 April suggests where Ripple might be focusing in the near future.

Booking tickets for LatAm

Ripple’s report pointed out that the Latin American payments industry suffered from low interoperability due to fragmentation. However, Ripple noted that crypto adoption was growing in the region, with central banks looking at blockchain technology, crypto exchanges supporting sports teams, and residents depending on the US dollar for liquidity. In particular, Ripple cited Brazil as an example and said,

“Because Brazil is often a leader in Latin America in the adoption of new technology, it’s worth noting that the country is driving smart and progressive crypto use and regulation.”

It added,

“Brazil’s central bank has also been ahead of the curve in showing public-facing interest in the potential of DeFi, NFTs and even the metaverse.”

The wording is significant. After all, Ripple has already launched projects in the Asia-Pacific and Middle East/North Africa region. What’s more, this would not be Ripple’s first rodeo in the LatAm region, after the payment company Paydek  announced it was leveraging the RippleNet to amp up it presence in Latin America.

Now, investors should watch to see if  Ripple’s next CBDC partnership or RippleNet integration could be based in the region.

That being said, Ripple isn’t the only blockchain company on the block looking to expand its activities in foreign countries. Cardano founder Charles Hoskinson made it clear that he had lofty plans for Cardano-based infrastructure in Africa. In fact, Cardano’s decentralized treasury – Project Catalyst – launched the Ariob incubator scheme in Africa to develop new projects.

In particular, Cardano’s developer arm Input Output stressed on the fraying links between users and older tech systems. A statement said,

“Given that there are no allegiances to legacy systems, it is far easier for technological advances to take hold.”

But what about XRP?

Ripple might be making strides overseas but back in North America, XRP is still a taboo asset as the SEC’s lawsuit against the company continues. However, Ripple experienced a setback as the judge denied CEO Brad Garlinghouse’s motion to force the SEC to produce notes taken by official Matthew Estabrook, during a meeting between SEC Commissioner Elad Roisman and Garlinghouse.

Source: https://ambcrypto.com/after-mena-and-apac-this-is-the-region-ripple-could-be-looking-at-next/