Ripple Announces Plans to Collaborate with Hong Kong Thriving Blockchain Ecosystem

Ripple is keen to collaborate with Hong Kong’s blockchain ecosystem to facilitate the tokenization of value across the region.

In an official tweet, US-based blockchain firm Ripple announced its keen interest in collaborating with Hong Kong’s thriving ecosystem of developers and blockchain investments. 

The company expressed eagerness to engage with enterprises and financial establishments to facilitate the tokenization of value across Hong Kong and the wider Asian region.

Hong Kong has a high concentration of developers and blockchain related investments. 🇭🇰

We’re excited to work with innovative businesses and financial institutions to move, manage and tokenize value within Hong Kong and throughout Asia. pic.twitter.com/vLLLlluNS0

— Ripple (@Ripple) August 9, 2023

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In a video shared alongside the tweet, Kirit Bhatia, Ripple’s Head of International Business Development, elaborated on the significance of this endeavor. 

Bhatia highlighted his connection to Hong Kong, citing pivotal moments in his career. He commended the growing adoption of cryptocurrencies in the region and underscored Hong Kong’s historical prominence as a bustling global financial hub. 

Ripple’s Role in Hong Kong

Bhatia noted that Hong Kong boasts one of the highest concentrations of developers and blockchain-related investments per capita. He revealed that Ripple is actively collaborating with local businesses and financial institutions. The aim is to usher in a new era of value movement, management, and tokenization. 

Bhatia highlighted Ripple’s partnership with the Hong Kong Monetary Authority to pilot a Central Bank Digital Currency (CBDC) initiative. The initiative aims to tokenize real-world assets using Ripple’s CBDC platform powered by the XRP Ledger (XRPL) technology.

XRP Community Weighs In

Prominent XRP influencer Crypto Eri shared her insights on the global crypto landscape of Ripple’s endeavor. She ranked Dubai, Hong Kong, the UK, Singapore, Japan, and the US as the countries most fervently vying to establish themselves as crypto hubs. 

Eri argued regulatory frameworks would ultimately determine the victor, with the prevailing regulations influencing talent concentration in these regions. Her tweet included a pointed message to key US politicians.

Dubai, Hong Kong, UK, Singapore, Japan, US – in that order of countries most hungry to be the Crypto hub IMO. It all depends on regulation who wins. 👉🏻Winner takes all the talent. @GOPMajorityWhip @PatrickMcHenry @SenWarren https://t.co/6ZxHMtvthB

— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) August 9, 2023

Brett Hill, an XRPL NFT admin, asserted that XRP was poised to be the cornerstone of a new financial system. Hill believes attempts to impede this progress would prove ineffective in the face of XRP’s growing influence.

Similarly, an XRP enthusiast highlighted Ripple’s extensive global partnerships and dismissed popular XRP price predictions. He expressed confidence in XRP’s worldwide utility, potentially pushing its value beyond bounds.

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• Source: https://thecryptobasic.com/2023/08/10/ripple-announces-plans-to-collaborate-with-hong-kong-thriving-blockchain-ecosystem/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-announces-plans-to-collaborate-with-hong-kong-thriving-blockchain-ecosystem