Ripple Has Limited Impact on APAC Payments Landscape, Says BoA Treasury Products Head

A top financial expert says the impact of Ripple remains limited in the APAC payments landscape as SWIFT GPI takes center stage.

In a  document  discussing the rapid development of payments technology in the Asia Pacific (APAC) region, Head of Treasury Products in APAC for Bank of America (BoA), ES Venkat, spotlighted the impact of the San Francisco-based blockchain technology firm Ripple in the evolving payments landscape. 

The document discusses APAC’s diverse payments ecosystem and notes the growing momentum of blockchain products as a solution for cross-border transactions. It acknowledges that digitalization is rapidly gaining ground, even in areas where traditional cash and paper-based clearing systems still prevail. 

According to the document, APAC is at the forefront of offering various digital payment options, ranging from mobile consumer payments via QR codes to real-time corporate treasury solutions and even  central bank digital currencies (CBDCs)  and cryptocurrencies. 

Ripple Has Limited Impact in APAC

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