SBI Holdings announced that the company partners with US-based Ripple Labs Inc. and jointly established SBI Ripple Asia targeting for Asia region including Japan. The SBI Ripple Lab has already started its operation.
Ripple Labs is one of the leading FinTech ventures in the world, which developes and provides global financial settlement solutions, and selected as “The Fintech 50” by Forbes. As the company has encouraged innovation of currency and financial systems with the concept of “Internet of Value”, it also issues and manages cryptocurrency “XRP” and develops next-generation settlement solution called Ripple Connect utilizing blockchain technology for global leading financial institutions.
SBI Holdings invested in Ripple and established a joint venture, SBI Ripple Asia to provide settlement infrastructure utilizing blockchain in Asia. In Japan, through the group’s SBI Remit which engages in an international payment business, the company will offer the solution to financial institutions and money-transmitting business operators. The group plans to expand the sales of Ripple Connect and other solutions which will be developed by Ripple, and develop its own solutions in Japan and Asia.
(Source: SBI Holdings )
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