Ripple is the leading money transfer blockchain in Southeast Asia in 2021

The report of the Association of Southeast Asian Nations (ASEAN) indicates that Ripple is the most popular provider of cross-border money transfers.

The Financial Technology and Integration in ASEAN report was created by ASEAN Global Connections and the University of Cambridge. It notes that the money transfer industry has shifted its focus to digital technologies. With their help, you can easily and quickly transfer funds from one country to another.

The Asia-Pacific region is a leader in digital banking. It accounts for ⅕ of all digital banks in the world (250 pcs). In the first place in terms of popularity in the field of transfers is Ripple. The report also mentions the Nium project, which is a partner of Ripple.

ASEAN includes 10 countries in the Asia-Pacific region. In addition to Malaysia, Indonesia, Laos and Thailand, this association also includes Brunei, Vietnam, Cambodia, Myanmar, Singapore, and the Philippines.

Singapore is the most active user of the system. This is one of the largest financial centers, which has clear government regulation and supports innovative payment technologies.

This has led to a 58% increase in digital payments in this state in 2021. The report also mentions the Philippines, where, according to the results of last year, the number of cryptocurrency transactions increased by 71%.

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