Strategic Collaboration to Drive Cross-Border Payment Innovation
San Francisco – Ripple, a leading provider of blockchain-based financial settlement solutions, and SBI Holdings, a $28 billion financial services conglomerate, announced the formation of SBI Ripple Asia. This joint venture aims to accelerate the adoption of Ripple’s enterprise-grade payment solutions across Japan, China, South Korea, Taiwan, and ASEAN markets.
Addressing Asia’s Booming Digital Payments Market
With non-cash transactions in Asia exceeding $45 billion annually, demand for efficient cross-border payment infrastructure is surging. SBI Ripple Asia will deploy Ripple’s technology to streamline interbank settlements, leveraging SBI’s established network of 10+ ASEAN financial institutions and partnerships with global brands like E*TRADE and Sumitomo Mitsui Trust Bank.
Key Benefits of the Partnership:
- Turnkey Distribution: SBI’s existing banking relationships provide immediate access to regional markets.
- Technology Integration: Banks gain access to Ripple’s proven solutions for real-time, low-cost transactions.
- Future Expansion: Potential listing of XRP (Ripple’s digital asset) via SBI’s brokerage platforms.
Leadership Perspectives
Yoshitaka Kitao, CEO of SBI Holdings:
"Ripple’s track record with major banks and scalable technology made them the ideal partner to modernize Asia’s financial infrastructure."
Chris Larsen, Ripple Co-Founder:
"SBI’s expertise in banking and payments will help establish the foundation for the Internet of Value across high-growth economies."
FAQs
1. What is SBI Ripple Asia’s primary goal?
To deploy Ripple’s cross-border payment solutions for banks in Asia, reducing reliance on traditional correspondent banking.
2. How does Ripple’s technology benefit banks?
It enables direct transactions between banks with real-time settlement, lowering costs and improving transparency.
3. Will XRP be available through SBI’s platforms?
The companies are exploring options to list XRP, enhancing liquidity for institutional and retail investors.
👉 Discover how Ripple’s solutions are transforming global payments
About Ripple
Ripple pioneers blockchain solutions for financial institutions, enabling seamless cross-border payments through its Internet of Value ecosystem. Recognized by the Federal Reserve and W3C, Ripple collaborates with regulators to shape the future of digital finance.
About SBI Holdings
A Tokyo-based leader in Internet finance, SBI operates across securities, banking, and biotech, with a JPY 245 billion revenue footprint in 20+ countries.
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