- SBI Holdings stated that Ripple and R3 Corda are going to leverage the XRP token to revolutionize financial operations.
- SBI Holdings are the largest outside shareholders in R3 and had earlier entered into a joint venture with them this Wednesday.
SBI Holdings, the Japanese financial giants, said that Ripple and R3 Corda are going to leverage the XRP token to revolutionize financial operations. SBI CEO Yoshitaka Kitao said the following regarding the potential impact that Ripple and R3 can have on the future of international payments:
“Swift has run out of options, Swift has given up on what they can do internally”¦.We have to have a global standard, if you use Corda’s settler, with XRP embedded in it, so that’s good for Ripple, for Corda r3, it’s a win-win, and we (SBI) are the largest shareholders of both.”
R3 recently announced the “Corda Settler”, which settles transactions between crypto and traditional assets using the blockchain technology. The protocol is using XRP as its first crypto payment rail.
As reported by FXStreet, SBI Holdings are the largest outside shareholders in R3 and had earlier entered into a joint venture with them this Wednesday. The joint venture will carry out the following activities:
- Support provision and introduce the Corda license
- Discover actual use-case
- Promote collaboration with overseas offices of R3 and other Corda partners.
- Develop Corda’s businesses in the Eastern Asian Region
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