- SBI VC Trade, SBI Holdings’ cryptocurrency exchange, has launched their validator on the XRP Ledger.
- This move is seen as a significant step for the XRP Ledger as a large enterprise is now running its infrastructure.
- Ripple and SBI have a long-standing partnership, with Ripple CEO Brad Garlinghouse citing Japan as one of the most crypto-friendly jurisdictions.
SBI VC Trade, a subsidiary of Japanese financial giant SBI Holdings, has launched a validator on the XRP Ledger, marking a significant step in the cryptocurrency world.
SBI VC Trade Launches Validator on XRP Ledger
SBI VC Trade, the cryptocurrency exchange of SBI Holdings, has announced the launch of their validator on the XRP Ledger. This move is aimed at reflecting the voices of its customers who hold the XRP cryptocurrency. Vet, the operator of the XRP Ledger dUNL, has emphasized that this is a “huge step” as a large enterprise is now running infrastructure for the XRP Ledger.
Long-Standing Partnership Between Ripple and SBI
Ripple initially partnered with SBI back in 2017 and has since offered year-end benefits for shareholders in the XRP cryptocurrency. In 2023, SBI Remit, a subsidiary of SBI Holdings, expanded its XRP-powered services to several countries, including Vietnam and the Philippines. Ripple’s CEO, Brad Garlinghouse, has repeatedly touted Japan as one of the most cryptocurrency-friendly jurisdictions. In 2020, he even suggested that Ripple’s headquarters could be relocated to Tokyo before the SEC took the company to court.
Ripple Expands Presence in Japan
In April, Ripple expanded its presence in Japan by announcing a tie-up with Tokyo-based HashKey DX. The aim of the collaboration is to use the XRP Ledger for developing enterprise solutions for customers in Japan.
Conclusion
The launch of SBI VC Trade’s validator on the XRP Ledger marks a significant step in the cryptocurrency world. It not only reflects the voices of XRP holders but also signifies a large enterprise running the infrastructure for the XRP Ledger. With Ripple’s ongoing expansion in Japan and its long-standing partnership with SBI, the future looks promising for the XRP Ledger.
