Vice-president Ripple Asheesh Birla during his speech at the finteh conference presented a plan to introduce the XRP crypto currency into the Indian market. Birla noted that Ripple has long been eyeing the huge Indian market, thinking out options how to “deliver” a cryptocurrency for each of India’s 2 billion people.
Initially, the company planned to distribute cryptocurrency with the help of local banks, but not all of the Indian population has access to banks and mobile phones. And this method would not allow to fully cover the market. As a result, the management of Ripple decided to start cooperation with telecommunications companies, which will allow covering 50% of the Indian market in the first couple of years.