Crypto in the USA Is ‘far behind’, Says Ripple APAC MD

• Ripple APAC MD Fiona Murray spoke at the oken2049 conference in Singapore
• Her overall message was that the US is ‘far behind’ on crypto, but has a chance to catch up
• In doing so, she noted Asia’s more stable and fair infrastructure.
• She also commented on the crypto connection, the US election

You’re constantly seeing how actively Asia is adapting crypto, and how Ripple CEO’s are involved in those developments.

Now Ripple APAC MD Fiona Murray speaking at Token2049 in Singapore, harmonizing this and denoting how stable an environment the countries in the Asia Pacific have created.

She also outlined that the US is ‘far behind’ on crypto and US election 2024 is not a quick fix, but there is still a chance of catching up.

What Exactly Are the Messages From Fiona Murray

First of all, she noted that the main initiatives of Ripple are aimed at the Asian region, as here several countries have already created a more stable, fair, and unbiased environment for the development of the crypto industry.

She particularly noted the activity of Singapore and its companies in this direction:

“The banking partners in Singapore, like DBS, are really at the forefront, and they’ve been encouraged by the regulators to work with responsible Web3 companies. So it’s not just regulation, you then have to have a supportive banking community, and beyond that, the infrastructure and the rails, and the organization in general. So the US is so far behind right now, but it could catch up.”

She also contrasted this with the situation in the US, where there is no single vector of development, and different agencies are competing in their vision and importance of crypto. However, she shared an optimistic view and says it’s only a matter of time.

“I think it’s more than the elections […] you’d have to enable all the banks to support Web3 communities and grow from there. Once that clarity is there and the infrastructure is there, if we were able to see the big banks move into this space, the number of assets that you could tokenize and custody, that would really move the needle.”

Conclusion

Once again, Ripple reminds us of the importance of the Asian region to the crypto industry, and how rapidly and consistently it is evolving in this direction while the US is experiencing large but diverse leaps in this.

However, the election results should synchronize the work on crypto adaptation in one direction or another, and hopefully towards more transparent and favorable regulation regardless of the winner.

That said, we should definitely keep an eye on the Asian region and Ripple, which is one of the most active players in this.