Ripple highlights the great benefits of blockchain for the world of financial technology. Ripple regularly emphasizes how important crypto projects are. Ripple is also actively exploring strategies that should contribute to progress around the world. So, Ripple employee Navin Gupta said that the Middle East means great opportunities.
Ripple emphasizes: Details
Ripple, represented by Managing Director for South Asia and MENA, Navin Gupta, highlights the tremendous opportunities of the Middle East. In a recent interview with CNBC, a Ripple spokesman noted the Middle East’s worth of financial transfers. According to a Ripple employee, the Middle East is the largest money transfer market in the world. The representative of Ripple emphasized that many existing money transfer systems are too slow, they have a lot of mistakes, and they are generally completely up-to-date.
On the other hand, Ripple seeks to change the situation by actively working with various financial institutions, banks and so on. At the same time, all the activities of Ripple in a particular state are necessarily coordinated with its regulations. This means that Ripple, as senior vice president Asheesh Birla has emphasized earlier, does not struggle with the system, but gently changes it from the inside. Navin Gupta emphasized that the development of a technology use case is an extremely important point. Therefore, Ripple is actively striving to show what it can bring in terms of innovation to a large number of different financial institutions. At present, Ripple already has a huge network that provides partners with the possibility of high-quality money transfers.
The representative of Ripple also emphasized that the bulk of the international business belongs to banks and monetary service providers. Ripple understands this very well and it follows. Ripple keeps up with modern trends. At the same time, as an employee of Ripple pointed out, financial payments can be instantaneous at the same time, without failures and extremely transparent for various institutions. Ripple is trying to work on its technologies so that they really suit many structures. A Ripple spokesman also noted that traditionally banks are used to using Nostro’s pre-funded accounts to facilitate cross-border transfers. That is why in such cases, transferring money home is extremely expensive.