Managing Director for South Asia and MENA, Navin Gupta, interviewed the Techcircle news portal and spoke about Ripple’s growth in India and the biggest issue in 2021. The San Francisco-based company has been trying to expand in India since 2018 and has entered into a number of partnerships for this purpose. These include partnerships with Kotak Mahindra Bank, Federal Bank and IndusInd Bank, the report said.
The country is one of the most attractive to Ripple in Asia in terms of sending and receiving funds. With a banking system that charges its users up to 7% of the total value of transactions to be processed within days, Ripple’s solutions can be of immense benefit to people inside and out. from the country.
Ripple demands clear rules
The Securities and Exchange Commission lawsuit against Ripple and some of its executives is one of the defining issues in the crypto market. And while the situation in India is somewhat different, the fate of Ripple and the XRP token also depends on a court verdict.
Although Ripple is not involved in any litigation in India, it is in constant talks with regulators and lawmakers.
Effective regulation must first distinguish between the different types of digital assets that consumers will have access to. This is one of the central issues in the SEC’s lawsuit against Ripple and is an issue the company has sought clarification on for years.
Despite Ripple’s efforts, there are strong rumors that India may reinstate a crypto trading ban in favor of a national CBDC.
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