Ripple Targets China’s $ 67 Billion Remittance Market For Expanding Adoption Of Its Products

Ripple has been working extremely hard to expand the reach of its products and the team behind the company did not quit doing their best despite the bearish market.

If you recall, back in 2018, Ripple’s VP of EU strategic accounts has made some pretty exciting and quite bold statements.

Jeremy Light told CNBC in an interview that the company was targeting China and its huge population for bringing its products here.

“China is definitely of interest. It is definitely a target,” Light said. “China is definitely a country and region of interest.”

It seems that Ripple’s focus would “unlikely be on advancing the adoption of its cryptocurrency, XRP, as Beijing has clamped down on the trading of virtual currencies.”

Ripple is looking for a country manager in Shanghai

As you can see Ripple laid its eyes on China for quite a while and now the company is eve looking for a country manager who can launch a brand new office in Shanghai.

Oracle Times reported that Ripple’s new tech leader “would have to bring the new international office online, broadening Ripple’s reach in Asia. This new hire will be shaping Ripple China to expand RippleNet’s expanding list of 200 banks and financial institutions.”

More than that, the candidates would have to be “deeply familiar with the payments landscape (across commercial banks, central banks, payment providers, regulators, etc.) and how it works not just in mainland China but also Greater China,” according to the Daily Hodl.

Ripple price predictions are making waves

We recently reported that there’s been quite a far-fetched theory published on TheIndependentRepublic.com, says UToday.

It sounds too good to be true, and it claims that Ripple’s market cap could hit around $27 trillion.

They claim that such a high number would be possible only if Ripple becomes the choice of all the cross-border payments that are being made by all the financial institutions.

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