Could Ripple And AliPay Start A Strategic Alliance?
According to some reports, it might be possible to see an alliance between Ripple and AliPay, one of the largest payment financial companies in China. AliPay is the largest payment network around the world and it is valued at $150 billion. In China and other places in Asia, the company has been dominant in both mobile and online payment services.
Are AliPay And Ripple Working Together?
The CEO of Ripple, Brad Garlinghouse, said that AliPay could be entering the US market in the near future. He said that the firm has high ambitions for the US and they had conversations with different individuals in the firm.
On the matter, Mr. Garlinghouse commented:
“AliPay has grand ambitions for the United States. I’ve had conversations with people in the company, and there is a zeal to make a move into the US. The company knows that the US is a large economy and they want growth. AliPay has so far built a strong payment system around their world.”
#Ripple and Alipay
"Alipay has great ambitions for the US" – Brad Garlinghouse pic.twitter.com/GWoojmQwC1
— CryptøManiac101 (NOT GIVING AWAY CRYPTO) (@_Crypto_Maniac_) April 4, 2019
Although AliPay has invested over $150 billion in its secure payment platform, they are just focused on the Asian market. Ripple could help the firm to enter the US market. According to EthereumWorldNews, there is a website called alipay.ripple.com.
XRP and Ripple enthusiasts have been talking about this domain and how only Ripple.com is able to create the alipay.ripple.com subdomain. Ripple would only do that if there is a real partnership between the two companies.
— Coinsaske 🇦🇹 🇨🇭 🇩🇪 (@TheRippleTrader) August 22, 2017
The company has focused on the Chinese market by offering mobile and online payments for consumers. The firm was also able to overtake some giant firms such as Goldman Sachs, Royal Bank of Canada, Santander and many others.
Ripple has been working with different financial companies from all over the world trying to expand its cross-border payment services. There are over 200 firms that have already embraced Ripple’s services and the number could keep growing in the future.
Ripple has also launched a new product called xRapid and it uses the XRP digital asset to source liquidity on demand.
Currently, each XRP can be purchased for $0.3638 and it has a market cap of $15.19 billion.