Mumbai: While the cryptocurrency market is recovering nicely amid the ICO ban in China, popular cryptocurrencies, such as Ripple, are still developing and expanding their day-to-day operations. Ripple announced that it had successfully expanded its operations to India by opening up an office in Mumbai. The new office will be directed by Navin Gupta.
All trading involves risk. Only risk capital you're prepared to lose. This is not investment advice.
"India is transforming itself into a digital economy and is an innovative leader in payments. Our new office in Mumbai, led by Navin, will allow us to respond to the rapidly-growing demand for frictionless payments by our current customers, Axis Bank and YES Bank, as well as other bank and non-banks across the country," said Ripple CEO Brad Garlinghouse.
Ripple is up 21% and is trading at $0.22 a coin with a market cap of over $8 billion. The cryptocurrency is currently seeing a massive amount of volume coming from Korean investors. The top three exchanges for Ripple control a total of 64% of the current daily traded volume. While the USD based exchanges are sitting around the 3% range.
Ripple sees India as a very important role in today's digital market, due to the country's increased focus in developing a sustainable digital economy. Gupta also mentioned that India "is the largest recipient of corporate and retail remittances worldwide, totaling about $71 billion".
This article was first posted on Etoro.com/blog
Bhopal, 18th November 2017: Goodricke Group Ltd., a brand synonymous with the finest teas that are hread more
Amongst heated statements being exchanged by Trump and Kim Jong un becoming the headlines of the newread more
Japanese Prime Minister Shinzo Abe has promised to "deal firmly" with North Korea after exit polls sread more
The NSA may have known about India's nuclear-capable Sagarika and Dhanush missiles as early as 2005,read more