In the pursuit of finding the perfect use case for Ripple XRP, Emi Yoshikawa, the Director of Joint Venture Partnerships at Ripple has spoken to TechCrunch about uses for Ripple XRP within the Asian continent.
Whilst XRP is most associated with cross border transactions, XRP does also have strong bearings for use as a store currency and for various other types of payments. This isn’t sentiment to XRP as such, more, this is one of the benefits of the blockchain altogether.
According to Technode.com, whilst discussing the topic of Asia and remittance payments, Yoshikawa has said:
“Asia is the world’s center for remittance payments, there is a lot of money going into Asia and flowing out of Asia as well.”
“People tend to think that blockchain is a threat to existing financial services, but it’s not always the case. We are providing solutions to help banks become better, so they can provide better services to their customers.”
See the full article for yourself, here.
— Ripple (@Ripple) July 5, 2018
Why is this important?
It’s no secret that remittance payments make up a huge market across Asia, therefore we can expect Ripple to want to take advantage of this. By having an official spokesperson come out with comments as we see above, this is a strong indication that indeed, Ripple are focusing their efforts in this area. The important thing to take from this is that Ripple XRP could very well become an adopted cryptocurrency across Asia for the purpose of remittance payments. If this happens, XRP will see a new value and of course, we will see a spike in the value of XRP, simply through a large increase in both trading volumes and general consumer interest.
In the grand scheme of things, this might level out the volatility of XRP so eventually, it may become less of an attractive investment option but as I’m sure you already know, this would be a good thing for XRP in turn.
Please note that this is not investment advice and that Ripple have a long way to go before XRP becomes a currency that is fully integrated into Asian markets. This news however does inspire an idea that Ripple are paying close attention to countries across Asia right now.