- Japanese financial giant SBI Holdings’ cryptocurrency exchange, SBI VC Trade, has launched its validators on the XRP Ledger.
- This move aims to reflect the voice of its customers who hold the XRP cryptocurrency.
- Vet, the operator of XRP Ledger, emphasized that a large company now operating infrastructure for the XRP Ledger is a “big step”.
SBI Holdings, a financial behemoth from Japan, has taken a significant step in the crypto space by launching its validators on the XRP Ledger through its crypto exchange, SBI VC Trade.
SBI Holdings Strengthens its Ties with XRP
SBI Holdings initially partnered with Ripple in 2017 and has since offered year-end benefits for shareholders in XRP. In 2023, SBI Remit, a subsidiary of SBI Holdings, expanded its XRP-backed services to several countries, including Vietnam and the Philippines. This recent development of launching validators on the XRP Ledger further solidifies SBI’s commitment to the XRP ecosystem.
Ripple’s Growing Influence in Japan
Ripple’s CEO, Brad Garlinghouse, has repeatedly touted Japan as one of the most crypto-friendly jurisdictions. He even suggested in 2020 that Ripple’s headquarters could potentially move to Tokyo before the SEC took the company to court. In April, Ripple announced a partnership with Tokyo-based HashKey DX, further expanding its presence in Japan. The collaboration aims to use the XRP Ledger to develop institutional solutions for customers in Japan.
Conclusion
This move by SBI Holdings is a significant development in the crypto space, particularly for the XRP ecosystem. It not only strengthens the ties between SBI and XRP but also underscores Japan’s growing influence in the global crypto landscape. As more large companies like SBI Holdings embrace blockchain technology, the future of cryptocurrencies looks promising.
