Ripple & XRP Adoption: Almost All Banks Considering Adoption In Japan?
Ripple and XRP seem to refuse to leave the spotlight at the end of 2019 after a pretty successful year for both entities.
There’s a recent presentation by the CEO of the blockchain intelligence company CipherTrace that makes some waves.
Japanese banks start working with Ripple
During a conference that has been hosted by the Japanese online retailer Rakuten, David Jevans said that the Japanese banks are beginning to work with Ripple and XRP en masse, according to the latest reports.
“So, there are over 1,600 cryptocurrencies today that use blockchain. All of us have probably heard about Bitcoin. Some of us about Ethereum,” he said.
He continued and explained that “In Japan, almost every bank is starting to work with something called XRP. You may know it as Ripple. And there are many others.”
These comments went viral among the Ripple and XRP enthusiasts, but the excitement then began focusing on the distinction that has to be made between Ripple and XRP.
In Japan, almost every bank is starting to adopt #XRP
David Jevans, Rakuten
Dec, 2019 pic.twitter.com/MHALlO3F5t
— Steven Bull From the Diep (@DiepSanh) December 27, 2019
It’s been also revealed that Japanese banks at large are not yet fully on board with Ripple or XRP, and Jevans later clarified what he had previously said.
“This is a remark I made at a Japanese conference in Tokyo, and refers to Japanese banks. ‘Working with’ means experimenting, evaluating, testing or deploying. I did not say ‘adopt’ (view the video). My comments reflect the Ripple offerings not just XRP.”
This is a remark I made at a Japanese conference in Tokyo, and refers to Japanese banks. "Working with" means experimenting, evaluating, testing or deploying. I did not say "adopt" (view the video). My comments reflect the Ripple offerings not just XRP.
— Dave Jevans (@davejevans) December 28, 2019
His comments triggered a debate on Twitter among users.
Someone commented: “Even if the majority of the banks are ‘working with, experimenting with, evaluating or testing Ripple, these are gateways to XRP’s On-Demand Liquidity! As an XRP investor, the fact that he confirms ‘most banks are using Ripple’ should be all you need to hear to make you sleep well.”
Another follower said: “Yeah, but at this stage, the cat is out of the bag. We all know XRP is being set up to replace the US dollar as an international bridge, and Rakuten will be using XRP as well. Don’t let your NDA’s stand in the way. XRP has no competition.”
In terms of pricing, XRP is trading in the green at the moment of writing this article.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.