Ripple likes a challenge.
An executive at Ripple, which apparently has more money than it knows what to do with thanks to its XRP (XRP) token, told CNBC the company wants to target the Chinese market with its distributed ledger technology designed to speed up cross-border payments.
According to CNBC, earlier this year the blockchain company struck a deal with Hong Kong-based financial services firm LianLian International to power cross-border transactions involving Hong Kong, China, the U.S. and Europe.
Ripple has more than 100 financial institutions signed up to its network but only one Chinese company, which CNBC didn’t name. But with such giants as Alibaba, Tencent and Ant Financial within its borders, China is a tempting target. Read more here.