The biggest industry of online shopping in the world is in China. People in China do shopping about $760 Billion per year. The money spending power in China is growing every day and it is one of the largest e-commerce markets at the moment.
Ripple XRP is all set to build new partnerships in China and it will boost the shopping power in China. Ripple has announced on their blog that they are all set to sign a partnership with the leading money service company in China. Lian Lian International has 150 million users in the region of Hong Kong.
This company is going to deal with the border across transactions in China, Europe, and the US. The company is going to use Ripple’s settlement solution for the payment tracking system, faster transaction and for keeping the user assets information private.
This source is going to give benefit to 100 of institutions in terms of faster payments and they can transfer funds across the border in few minutes. This company has the ability to process payments in Billions each year. This company is dealing with the finance of eBay, Ali Express, and Amazon. This is known as one of the largest companies who is serving entire China.
CEO of LianLian, Arthur Zhu said in a statement that
“With RippleNet, we will further enhance that experience and increase our market share by offering customers instant, blockchain-powered payments across the 19 currencies that we currently support. We look forward to working with RIPPLE to power payment flows between China and RippleNet members in new markets.”
Ripple’s position is safe in the market with the partnership like this and this is increasing demand for Ripple. People will buy Ripple to spend them worldwide and to do rapid transactions without involving the third party in their selling and purchasing work.