Ripple APAC Managing Director Fiona Murray recently stated that the US is lagging behind in cryptocurrency development. While there is recent hope, she believes that the election is unlikely to change this in the short term. However, she still sees an opportunity for the US to catch up.

Furthermore, she mentioned that most of Ripple's innovation occurs in Singapore, not the US. She attributes this to a "lack of openness" which has driven many crypto founders to Asia and other countries in search of fairer conditions. Murray believes that the Asia-Pacific region provides a "stable environment" with strong core infrastructure to foster healthy cryptocurrency development.

She highlighted that Singaporean banking partners like DBS Bank, the largest bank in Southeast Asia, are currently leading the way and are encouraged by regulators to collaborate with responsible Web3 companies. "So it's not just regulation," she added.