Ripple, a San Francisco-based blockchain payments company, has stretched its global footprint by setting up a new office in Singapore.
The company said that the new office has been launched to support its growing customer base across Asia-Pacific markets – including Standard Chartered, a Ripple investor, member of the RippleNet Advisory Board, and early adopter of blockchain technology to power payments.
Ripple added that it is already registering huge demand for enterprise blockchain payments solutions from local banks, as well as payment providers and corporations across the region.
Ripple APAC managing director Dilip Rao said: “Singapore is leading the charge when it comes to streamlining money exchange, remittance and payments systems. In fact, one of the key themes raised during the Prime Minister’s recent National Day Rally was the importance of digitizing payments in the country’s aim to become a Smart Nation.”
“Our new office can support this ambition and equally brings us closer to our customer base across the Asia-Pacific region, enabling banks, payment providers and corporates to make instant payments into-and-out of the country using blockchain. As a leading trade and fintech hub, Singapore offers Ripple leverage in the region as we expand our global footprint.”