Ripple is opening up about its plans to enter one of the world's largest markets, China. In new statements, the blockchain-based startup aimed to address rumors that first appeared last Thursday on the XRP Chat. The blockchain company comfirmed that it is planning to set up operations in China, but it's not doing so with the help of one of the region's e-commerce giants, as previously rumoured. Emi Yoshikawa, Ripple's director of joint venture partnership said:
"China is a key market for a global payments network, which is why we are looking to build a presence there. Total cross-border [business-to-business] payment value involving China is $5 trillion annually, and the large Chinese e-commerce market currently lacks a highly efficient and low-cost solution."
Read more here: https://www.coindesk.com/ripple-confirms-china-expansion-plans-shoots-alibaba-rumor/