Renowned Japanese giant named ‘SBI Holdings’ has ‘revealed‘ its 9-month’s financial report recently on 31st Jan. Within the report for the price ending on 31st Dec., last year, SBI added Ripple’s [XRP] potential for cross-border payments.
SBI Holdings outlines the implementation of technologies by Ripple [XRP] and blockchain consortium R3 as a serious part of its strategy to provide an international standard for financial operations like international payments and trade finance.
In the section titled “Business Area Separation of Ripple [XRP] and R3,” SBI outlined Ripple as an entity “specializing in in international remitment,” whereas R3 is accountable for developing projects that “are not restricted to the business industry ‘employing‘ smart contract-based technology.”
SBI Holdings additionally added that Ripple [XRP] is primarily cryptocurrency that’s supported by R3’s Corda Settler. The recently ‘launched‘ decentralized app permits payment obligations on the Corda blockchain to be settled via all international payment systems, both standard and blockchain-based.
As a part of the strategy to offer a fintech shift, SBI Holdings additionally mentions its new blockchain initiative S coin platform, that it trialed for retail payments in Sept. last year. The report states that integration of R3’s Corda Settler onto the platform will streamline S coin, while permitting it to operate globally.
Earlier on 30th Jan., major international banking payments network SWIFT’s plans to launch a PoC [Proof-of-Concept] to permit R3 to link to GPI [Global Payments Innovation] payments from their platform.
Just ‘earlier‘ in Dec, SBI Holdings-founded crypto exchange ‘Vctrade’ started accepting deposits in major cryptocurrencies together with Bitcoin [BTC], Ethereum [ETH] along with Ripple [XRP].