Advertisement
AD

Main navigation

Ripple Seen as Leading Remittance Provider in Association of Southeast Asian Nations Report: Details

Advertisement
Sun, 10/04/2022 - 15:50
Ripple Seen as Leading Remittance Provider in Association of Southeast Asian Nations Report: Details
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

A recent report, "Financial Technology and Inclusion in ASEAN," cites Ripple as a notable remittance provider. The research undertaken by ASEAN Global Connections and the University of Cambridge notes that the remittance industry saw a shift to digital with start-ups developing new cross-border payments and settlements. The report then cites Ripple as the most notable in cross-border payments, along with Nium, also a Ripple partner.

Advertisement

ASEAN refers to the Association of Southeast Asian Nations, an international organization that brings together 10 Southeast Asian states—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam—into one body.

Countries in Asia and the Pacific have risen globally in terms of offering quick payments using digital banking systems. Their exploration and invention of alternative payment rails to better facilitate both cross-border and domestic quick payments contributes to the region's growing prominence and leadership in the payments sector.

APAC has risen to dominate the digital banking business in recent years, accounting for 20% of the world's approximately 250 digital banks.

Singapore, which is one of the world's top five most competitive financial centers, has established clear and effective government legislation, as well as support for innovative payment technology, resulting in a 58% growth in quick payments in 2021.

The Philippines, too, is financially competitive, where virtual currency transactions increased by 71% between 2020 and 2021, owing to new solutions such as crypto-assisted remittances and digital payment options.

Updates in the Ripple-SEC case

In fresh updates to the Ripple-SEC case, the much-awaited Individual Defendants' Answers have been filed, thus fixing the deadline for the SEC's position on additional discovery to April 15, 2022, and the deadline for the Joint Proposed Scheduling Order to April 22, 2022.

The court is expected to rule on the SEC's Motion for Partial Reconsideration, the Defendants' Motion to Strike the Supplemental Expert Report, the Defendants' Motion to Compel Turnover of the Estabrook Notes and the SEC's proposed redactions in the mean time.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
ApeX Protocol Partners with Alertatron to Enhance Automated Trading Capabilities
TeachMeCode Institute Announces Grand Opening of Cutting-Edge Dubai School
Our social media
There's a lot to see there, too

Popular articles