With this, it has allowed firms to take new steps and develop the ecosystem in the sub-continent. Ripple managing director for MENA Navin Gupta had recently spoken about his plans of creating a corridor for India.
Ripple has been successful in its operations since the last few years of its inception and has also offered its services to banks like Kotak Mahindra, Indusland Bank, Yes Bank and the Federal Bank.
However, Ripple is still to kick start its payment solution with the help of XRP, On-Demand Liquidity. However, Gupta, has asserted that Ripple is keen on bringing ODL to the Indian market. He said that the primary motive behind bringing it to the sub-continent will be to make remittances faster, easier and cheaper.
The idea might however face one primary concern. Though the company, as said by Gupta is positive about the build-up, in India there has been a clear regulatory problem which can be a major concern. Beside this, there is a lack of robust leagal framework to support the cause.