Ripple Executive Says U.S. Cryptocurrency Progress Slow, Asia-Pacific Leads in Innovation

Fiona Murray, Managing Director of Ripple APAC, recently said that the U.S. has been slow to move forward on cryptocurrencies, and despite recent hopes, the election is unlikely to change that in the short term. The US still has a chance to catch up, though.

She mentioned that most of the innovation in Ripple's business has taken place in Singapore, not the U.S., and that a “lack of open-mindedness” has prompted many cryptocurrency founders to travel to Asia and other countries in search of fairer conditions.

She argued that the Asia-Pacific region offers a “stable environment” with much of the core infrastructure that can facilitate healthy cryptocurrency development. Singapore's banking partner DBS Bank is currently leading the way and has been encouraged by regulators to work with responsible Web3 companies. So it's not just about regulations.