XRP Boost: SBI Reportedly Launches A Global Push To Use XRP

Ripple has been working really hard to promote its products, and the San Francisco-based company made a lot of efforts to boost the whole XRP ecosystem as well.

XRP is in the spotlight these days following the latest reports.

SBI Holdings to use XRP, according to the latest reports

It’s been reported that the Japanese financial giant SBI Holdings is planning to use the crypto in order to power global payments.

During a new speech during the  FIN/SUM, 2019 conference in Tokyo – translated by independent Ripple and XRP researcher Crypto Eri – SBI CEO and Ripple board member Yoshitaka Kitao said that the company “will use the virtual currency XRP for remittance.”

Kitao also said that the company’s mobile money transfer app MoneyTap would use the digital asset XRP.

The app is fully licensed by Japanese regulators.

“He is saying, as a first-tier public company on Tokyo exchange (blue chip) XRP will be utilized in MoneyTap. Not all the banks in the consortium are strong in cross-border remittances but also, he announced Ripple would become a shareholder in MoneyTap.”

SBI is currently working in order to toll out MoneyTap to a banking consortium that is led by SBI Ripple Asia that includes 61 banks covering more than 80% of all the banking assets in Japan.

XRP price predictions

Crypto analysts see a bright future for XRP.

An analyst called Pentoshi predicted “firework incoming” for the crypto and said that it touched a historic level of support on Poloniex that is dating back to 2014.

At the moment of writing this article, Ripple’s digital asset is trading in the green on CMC, and the coin is priced at $0.263182.

In other news, Ripple CEO Brad Garlinghouse decided to address some of the speculations and accusations that are floating around Ripple and XRP once again, especially the ones saying that Ripple holding XRP affects the digital coin’s price.


People Mentioned

Brad Garlinghouse
Brad Garlinghouse

Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.

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CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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