Ripple XRP adds SBI president to the board of directors

Ripple is a blockchain payment platform, and it has recently made an announcement regarding the latest addition in its board of directors. The announcement revealed that Yoshitaka Kitao will be now included in Ripple’s board of directors.

Kitao is the current president and CEO of SBI Holdings. SBI Holdings is the leading financial giant in Japan. The news was revealed last week in addition with the fact that Kitao will be replacing the CEO of SBI Ripple Asia on the board of director.

Yoshitaka Kitao is a skilled individual in the financial field with over forty years of experience. He has initiated many great startups and also been a part of creating great startups.

Chris Larsen is the co-founder of Ripple, and he gave a statement on the announcement saying Ripple is aiming to grow its range of influence and expand its reach to the Asia Pacific because many new customers are arising in that region.

He thinks that Kitao’s integration in the board of directors is going to help Ripple reach its goals as fast as possible.

Ripple and SBI Holding’s relationship goes way back to 2016. The alliance was formed by a joint venture dubbed the SBI Ripple Asia.

The SBI Ripple Asia launched a payment app backed up by the blockchain technology. The payment app was called MoneyTap.

Both the parties also collaborated by providing their resources for the research on the blockchain technology and improving it.

The main areas that were focused upon were improving the efficiency of the technology for the user and reducing the cost associated with the practical use of this technology.

SABB also came out with an announcement declaring that it has made international money transferring app with the help of Ripple that allows money to be transacted internationally within minutes.