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SBI Holdings, Ripple (XRP) Biggest Partner, Said That Cryptocurrency Will Revolutionize The Economy

Yoshitaka Kitao, the CEO of SBI Holdings, the most significant Ripple (XRP) partner, thinks that blockchain technology and, subsequently, cryptocurrency will initiate a new economic boom in Japan. He made these remarks during the Japanese Blockchain Conference in Tokyo, held this week, and also added that all that would commence soon.

“We want to take blockchain beyond financial. There’s a lot of speculative demand around cryptocurrencies, which is why the price is going up so quickly, but people need to think about how these technologies are being used in real life and how they can improve people’s businesses,” stated Yoshitaka Kitao, SBI Holdings CEO.

SBI Holdings already proved its affinity to XRP

In early-June, SBI Holdings rolled out the VCTRADE cryptocurrency platform which, for the time being, is focused on trading Ripple (XRP), the token of the Ripple network which is dedicated to revolutionizing banking and remittances systems.

Soon, VCTRADE will add Bitcoin (BTC) and Bitcoin Cash (BCH), but no official date when that is going to happen has been released yet.

Ripple (XRP) and SBI Holdings are long-term partners

The relation between SBI Holdings and Ripple (XRP) dates back to 2016 when SBI made its first investments in Ripple blockchain and XRP. Since then, the connection between the two firms has tightened up, and now SBI Holdings and Ripple are jointly operating SBI Ripple Asia, a company dedicated to examine and promote Ripple network and Ripple (XRP) employment in cross-border payments between Asian banks.

As for the Ripple (XRP), the partnership with SBI hasn’t returned much regarding its value against the USD, but this partnership is a very stable and important one, and we should expect to pay off eventually for the Ripple (XRP) price.

On the other hand, XRP is currently struggling to recover after reaching new minimums this month and is now trading at $0.461, appreciating by a shallow 0.27% in the last 24 hours.

coinmag

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.