RIPPLE MAKES PUBLIC ITS INTEREST IN THE CHINESE MARKET AND DENIES ITS ASSOCIATION WITH ALIBABA

Associate Director of Ripple Emi Associates Yoshikawa told the media that he is interested in expanding its services in the Chinese market and another company spokesman said they are not working with Alibaba to achieve that goal.

As for the recent rumor that spreads in a virtual forum called XRP chat, which has highlighted that Alibaba had run a validating node Ripple, a spokesman for the blockchain platform has denied such information. In addition, Yoshikawa reaffirmed his interest in operating in China. Speaking to CoinDesk, Yoshikawa said:

"China is a key market for the global payment network, so we are trying to build a presence. The total value of cross-border payments [business-to-business] involving China $ 5 trillion per year, and large trading market Chinese electronics currently lacks a very effective and low-cost solution. "
Emi Yoshikawa
Managing Partner, Ripple

It should be noted that Ripple is already present in Asia, including Thailand, with Krungsri Bank, and Japan with 47 Japanese banks with SBI Ripple Asia carried out the test phase of this blockchain, to develop the implementation of a trade .

The Bank of England has also shown interest in Ripple, so last month it took the test of cross-border payments. In addition, banking giant BBVA of Spain showed inclination for this platform due to the last test operations carried out in April between Mexico and the Iberian nation.

It should be remembered that Ripple is a blockchain platform aimed at the banking sector, which unlike banks, there is no institutional hierarchy that governs transactions. In addition, the network has a capital market that is only surpassed by Bitcoin and Etereum, and also has its own cryptoactive, known as XRP.