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San Francisco-headquartered fintech Ripple has been busy in the last couple of months. The US$10 billion-valued company, most known for its cryptocurrency XRP, is doubling down on Asia.
In March, it snapped up 40% of Malaysia-based remittance and cross-border payments service Tranglo, which has a network spanning over 100 countries. And a week prior to that, it hired seasoned Asia Pacific executive Brooks Entwistle to head its regional office in Singapore. Entwistle is a 22-year Goldman Sachs veteran who previously led Uber’s Southeast Asia business.
For Ripple, the lure of Asia, and particularly Southeast Asia, is clear.
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