Ripple Seen as Leading Remittance Provider in Association of Southeast Asian Nations Report: Details

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Ripple Seen as Leading Remittance Provider in Association of Southeast Asian Nations Report: Details
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Ripple cited as notable remittance provider in Association of Southeast Asian Nations report: details XRPCommunity XRPthestandard XRPArmy XRPHolders

ASEAN refers to the Association of Southeast Asian Nations, an international organization that brings together 10 Southeast Asian states—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam—into one body.

Countries in Asia and the Pacific have risen globally in terms of offering quick payments using digital banking systems. Their exploration and invention of alternative payment rails to better facilitate both cross-border and domestic quick payments contributes to the region's growing prominence and leadership in the payments sector.has risen to dominate the digital banking business in recent years, accounting for 20% of the world's approximately 250 digital banks.

Singapore, which is one of the world's top five most competitive financial centers, has established clear and effective government legislation, as well as support for innovative payment technology, resulting in a 58% growth in quick payments in 2021. The Philippines, too, is financially competitive, where virtual currency transactions increased by 71% between 2020 and 2021, owing to new solutions such as crypto-assisted remittances and digital payment options.In fresh updates to the Ripple-SEC case, the much-awaited Individual Defendants' Answers have been filed, thus fixing the deadline for the SEC's position on additional discovery to April 15, 2022, and the deadline for the Joint Proposed Scheduling Order to April 22, 2022.

The court is expected to rule on the SEC's Motion for Partial Reconsideration, the Defendants' Motion to Strike the Supplemental Expert Report, the Defendants' Motion to Compel Turnover of the Estabrook Notes and the SEC's proposed redactions in the mean time.

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