SBI Holdings are a massive financial company in Japan which has recently said that Ripple and R3 are going to be utilising Ripple’s native token XRP in unique ways to change how value is transferred across the globe.
A new financial report from SBI Holding highlights the focus Ripple have on tackling global remittance bottlenecks for financial organisations and banks. According to the report, R3’s new Corda Settler is going to look at expanding beyond the world of traditional finance by giving several firms the chance to use smart contract blockchain technology to move finances.
Both of the companies are going to be adopting XRP as a way to shift money across borders. Corda Settler was recently announced by R3 which uses blockchain technology to settle transactions between crypto and traditional assets. The protocol is using XRP as its first crypto payment rail.
On top of this, the CEO of SBI Toshitaka Kitao recently gave a speech on the potential impact that the two companies could have on global payments and on the future of the global payments standard SWIFT.
"Swift have run out of options, Swift have given up on what they can do internally"— Dillon (@Dillon) January 31, 2019
"We have to have a global standard, if you use Corda's settler, with XRP embedded in it, so thats good for Ripple, for Corda r3, its win win, and we (SBI) are the largest share holders of both." pic.twitter.com/TsWBFh3syy
Earlier this week, SWIFT announced that they will be linking to R3’s Corda Settler at the Fintech Festival in Paris.
In terms of price, Ripple’s native token XRP is currently the second largest cryptocurrency. The price of XRP is $0.30 at the time of writing after a 3.46 percent decrease over the past 24 hours.
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