Ripple Seeks China Expansion, But Not as Cryptocurrency

Ripple is making a foray into the Chinese market with its Blockchain-based payment technology, the company’s VP Jeremy Light told CNBC. Back in February, they also teamed up with the fourth largest Chinese payment processor LianLian in order to create a platform for conducting international transactions.  

The firm will not make an effort to promote crypto adoption here given China’s major clampdown on digital assets. This trend, however, is also seen in other countries– financial companies still feel apathetic about Ripple as a currency.