SBI Holdings, in partnership with Ripple Labs Inc. (headquartered in San Francisco, USA; CEO: Chris Larsen), has established SBI Ripple Asia Co., Ltd. to develop and provide blockchain-based next-generation payment infrastructure across Japan and Asia.
Overview of Ripple Labs
- FinTech Pioneer: Recognized in Forbes' "The Fintech 50," Ripple leads innovation in the Internet of Value space.
Key Technologies:
- XRP Cryptocurrency: The second-largest by market cap after Bitcoin.
- RippleNet: A blockchain-powered payment network adopted by global financial institutions.
Strategic Collaboration
- Joint Venture: SBI Holdings (60% stake) and Ripple (40%) formed SBI Ripple Asia to deploy blockchain solutions.
Initial Focus:
- Launch services via SBI Remit (international remittance).
- Expand RippleNet and custom solutions for Asian markets.
New Company Details
| Category | Details |
|---|---|
| Name | SBI Ripple Asia Co., Ltd. |
| Location | Tokyo, Japan |
| CEO | Takafumi Okita |
| Business Scope | FinTech solutions (development, sales, consulting) using blockchain. |
| Founded | May 18, 2016 |
| Capital | ¥500 million |
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FAQs
Q1: What is RippleNet?
A1: A blockchain-based payment network enabling fast, low-cost cross-border transactions.
Q2: Which regions will SBI Ripple Asia target?
A2: Primarily Japan and Asia, with potential global expansion.
Q3: How does XRP fit into this?
A3: XRP serves as a bridge currency to facilitate liquidity in RippleNet transactions.
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