Ripple to explode in Asia? Ripple remittance deal with Japanese giant SBI

Ripple remittance deal

TL;DR Breakdown

  • Japanese monetary firm SBI has teamed up with Ripple on a new Ripple remittance deal.
  • The deal seeks to provide the first on-demand liquidity in the whole of Japan.
  • The two have partnered up before in their co-venture called SBI Ripple Asia.

Ripple has great potential as many investors believe in the cryptocurrency. Its partnership with the Japanese monetary firm SBI had brought the attention of major financial firms and put Ripple on the map.

Ripple has made the historic announcement for the new partnership with SBI. The two have struck a remittance deal to offer the first-ever live liquidity on-demand program in the history of Japan.

The Ripple remittance deal with SBI

The Ripple remittance deal with SBI will focus on the remittances that occur between the nations of Japan and the Phillippines. The two nations have a deep history and this new deal will focus on that history.

Ripple also informed that this new deal has been struck to agitate the expansion of the organization all over Asia. Ripple has targeted the Asia-Pacific region as the basis of its growth and this announcement seems to be a part of the plan.

Setting the stage

It has been said that the Ripple remittance deal is setting the stage for the much wider adoption of Ripple. The lawsuit on Ripple pertaining to its security doesn’t seem to bother Japanese regulators or SBI officials.

Ripple has taken the decision to migrate while SBI executive Yoshitaka Kitao has considered Japan to be an ideal place for the migration of the American firm to Japan as it would facilitate its goal of mass adoption in the Asia-Pacific region.

Ripple has become one of the biggest cryptocurrencies in the crypto industry and this partnership will definitely help the Ripple organization in the long run. While many investors have their doubts due to the Ripple lawsuit, such steps by the organization prove otherwise.

Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

Related News

Hot Stories

Solana price analysis: SOL drops by 5% after bearish run
Litecoin price analysis: LTC prices suffer a further downtrend to lows of $60.69
Polkadot price analysis: DOT price recovers to $8.41 as bulls try to gain momentum
Bitcoin, Ethereum, ApeCoin, and Decentraland MANA Daily Price Analyses – 17 August Roundup
How to bridge to Dogechain?

Follow Us

Industry News

How to bridge to Dogechain?
Why learn blockchain, Defi, and crypto technology at a top university?
Best Twitter thread of the day - August 17th
Top tweets of the day - August 17th
New York Court rules in favor of Celsius Network to sell mined Bitcoin. More sell pressure?