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Ripple President Monica Long announced hosting top U.K. official, Lucy Rigby, at the firm’s Singapore office to discuss digital assets. The meeting is tied to broader U.K. efforts to expand its digital footprint worldwide; however, it is stirring more speculations in the community.
U.K. giving crypto a chance with Ripple
Long posted a picture with Lucy Rigby, the U.K.’s Economic Secretary to the Treasury, at the Ripple Singapore office.
As the U.K.’s Economic Secretary to the Treasury, her role involves overseeing economic policy and financial regulation, among others. Her responsibilities include modernizing financial services, promoting growth and addressing emerging technologies like digital assets.
Long revealed that her discussion with Rigby focused on boosting the competitiveness and growth of the U.K. The country aims to build on its status as one of the leading financial hubs of the world.
Thus, hosting the senior U.K. government official at Ripple signals official interest in crypto and blockchain. Such meetings are usually a form of soft diplomacy, where businesses engage policymakers to influence or align with regulations.
This meeting is possibly tied to broader U.K. efforts to attract fintech investment post-Brexit. Choosing to use Ripple means the U.K. recognizes the blockchain payments firm is efficient in global payments, reducing costs and settlement times compared to traditional systems like SWIFT.
As a company that has navigated U.S. SEC lawsuits, Ripple positions itself as a compliant, enterprise-focused player.
Thus, the meeting with Rigby could help Ripple lobby for U.K.-friendly rules. This could potentially unlock billions in economic value through faster financial infrastructure.
U.K. wants to lead crypto efforts
Meanwhile, the U.K. is actively building its crypto hub status under the Labour government. Recent policies include clearer stablecoin regulations, tokenized asset pilots and incentives for digital asset innovation to drive GDP growth.
In April, U.K. Chancellor Rachel Reeves revealed that the U.K. plans to collaborate with the U.S. on crypto regulation. Reeves stressed that international cooperation is important to ensure the U.K. maintains a leading position on the global digital asset scene.
Also, Ripple executive Cassie Craddock recently disclosed that the firm is set to leverage recent collaborations between the U.S. and the U.K.
However, note that the crypto regulations are not fully developed in the country. The U.K. plans to implement a full-fledged crypto regulation framework in 2026.
Post-Brexit, the U.K. faces competition from New York, Hong Kong and Singapore. Hence, embracing digital assets is seen as a way to reclaim an edge.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team