- Rapid Crypto Development in the APAC Region
- The Role of Banks and Infrastructure
- Regulation and Infrastructure Prospects in the US
Fiona Murray, managing director of Ripple APAC, claims that the US is lagging in crypto development, and the upcoming election won't bring quick changes.
Rapid Crypto Development in the APAC Region
Speaking at Token2049 in Singapore, Murray noted that the bulk of innovation in Ripple’s business is occurring in Singapore, not in the US. She connects this to a “lack of open-mindedness,” which has driven many crypto founders to Asia and other countries in search of fairer conditions. Murray believes the APAC region provides a stable environment and essential infrastructure for healthy crypto development.
The Role of Banks and Infrastructure
"Banking partners in Singapore, like DBS, are really at the forefront, and they’ve been encouraged by regulators to work with responsible Web3 companies," said Murray, referring to Southeast Asia's largest bank, DBS Bank. She added, "You then have to have a supportive banking community, and beyond that, the infrastructure and the organization in general. So the US is so far behind right now, but it could catch up."
Regulation and Infrastructure Prospects in the US
Although Donald Trump has become the first US president to buy a burger with Bitcoin, and Democrats may be warming up to crypto, Murray doubts that the election will easily fix the industry issues in the US. She believes it's more than the elections; it's about enabling all banks to support Web3 communities and grow from there. Murray is confident that clarity in regulations and infrastructure will come to the US over time, but it’s a matter of time.
Fiona Murray emphasizes the importance of clear regulations and advanced infrastructure for the successful development of the crypto industry in the US. She believes that over time, America will be able to catch up with other regions, but the current situation requires significant changes.
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