Chinese regulators, banks and payment providers are preparing to test the xCurrent solution from Ripple.
As the newspaper notes, Chinese companies are determined to use Ripple technologies to improve the payment infrastructure, as well as to increase the efficiency and transparency of cross-border payments.
As the head of the representative office of Ripple in the Asia-Pacific region Sagar Sarbhai noted, the company conducts active negotiations with state institutions and banks of the PRC, regulates regulatory and legal issues, as well as educational work, telling about the advantages of new payment solutions.
“This year there will be more reports from China concerning the formation and differentiation of us from some other existing crypto-currencies,” Sarbhai notes. “Currently, our team is working on a strategy for entering the market, but it’s still at an early stage”