Ripple’s Business Booms in Asia-Pacific

Despite facing a hefty $1.3 billion lawsuit from the SEC, Ripple seems to be cruising along without a hitch in the Asia-Pacific region. CEO Brad Garlinghouse recently confirmed this to Reuters, stating, “It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific.” Talk about riding the waves while a storm brews back home!

Regulatory Clarity: Ripple’s Secret Sauce

So, what’s Ripple’s secret sauce? According to Garlinghouse, the company enjoys strong relationships with regional regulators. This favorable positioning means they’ve been able to expand their operations without the sticky web of SEC complications that are tying them up in the States. “We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets,” he added. It’s almost like they’ve got VIP access to the business party where nobody else can get in!

Joint Ventures: Partnering for Success

Ripple’s collaboration with Japanese mega-conglomerate SBI Holdings has also helped solidify its standing. The duo has cooked up SBI Ripple, a joint venture aimed at creating a seamless payment corridor across Asia. This kind of partnership not only boosts Ripple’s credibility but also provides a robust framework to navigate the murky waters of international finance.

Steady Growth in Southeast Asia

In March 2020, Ripple made a strategic move by partnering with DeeMoney, a Thai fintech company, expanding their reach into Southeast Asia. This move underlines Ripple’s strategy of diversifying its markets and avoiding over-dependence on U.S. operations. Garlinghouse believes that while U.S. exchanges may be hitting the brakes on XRP trading, the global market remains vibrant, with over 200 platforms across the world still championing XRP.

Future Outlook: Going Global?

With only about 5% of Ripple’s customers based in the U.S., Garlinghouse hinted at a potential pivot to greener pastures if the regulatory landscape doesn’t shift soon. In his words, “We might have to consider scrolling through other countries if things don’t get better here.” Meanwhile, both he and executive chairman Chris Larsen are waiting with bated breath for motions to dismiss the case. After all, who wouldn’t want to escape the clutches of regulators when you have the world as your oyster?