Sendi Young, Ripple’s managing director of Europe, tells CNBC that despite the company’s legal battle with the Securities and Exchange Commission (SEC), its payments network has doubled and business is thriving.
“Last 18 months have been the strongest period for us ever. We’ve doubled our payments network. We have hundreds of customers with a payment flow round rate of over $15 billion today. So we continue to see strong demand because we are solving real-world problems, real pain points with these technologies.”
Young goes on to say that Europe and the United Kingdom have favourable regulatory environments for digital assets to thrive.
“There’s a lot of innovation and change going on. I think the fact that we’ve grown the network quite a lot over the last year [by] solving real-world problems with crypto and blockchain shows the future potential of this.
I think there’s a really important point here around clear regulatory frameworks, which we see very different approaches around the world. I think Europe and the UK are in a really strong position in Europe with the markets and crypto assets legislation that is in draft format at the moment.”
Young believes that the UK’s approach to discussing regulations with crypto and blockchain companies creates an ideal environment for the company.
“I think that the partnership-led approach between private and public sectors is a great way to create very clear regulatory frameworks that allow the industry to innovate while protecting consumers.”
