Ripple and SBI Holdings Shaping the Future: Pioneering the “Internet of Value” in Japan and Asia Through Experience and Technology Merger

  • Ripple partner SBI Holdings is working with R3 and is leading the development of the Corda blockchain, which specializes in B2B transactions.
  • SBI Holdings is a major partner of Ripple, with the two companies facilitating instant cross-border payments using RippleNet and XRP ODL services.

Blockchain startup Ripple has a strong presence in Asian markets and has strong ties to Japanese financial giant SBI Holdings. For the past two years, the two players have been operating together under SBI’s joint venture Ripple Asia and building the “Internet of Value”, combining the technology and experience of both companies.

However, SBI Holdings has also entered into a partnership with US-based financial technology firm R3 with the two operating under SBI’s R3 Japan joint venture. The SVI Group is the largest shareholder of R3.

R3 took the lead in developing Corda, a blockchain platform specifically designed for business-to-business transactions. The R3 ecosystem includes over 300 members from around the world, including financial institutions, regulators, central banks, industry associations, system integrators and software vendors.

Corda is a blockchain platform designed for financial institutions. It is designed to be interoperable and confidential, essential qualities for financial transactions. A number of financial institutions are recently conducting trials for Corda, with some commercial uses of the platform already on the market.

The R3 Corda blockchain platform prioritizes privacy, security and interoperability. It also enables the secure and efficient exchange of data and value between participants. Additionally, the platform is modular, providing flexibility to customize and adapt to specific requirements.

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Ripple and SBI Holdings

The partnership between Ripple and SBI Holdings dates back to July 2021, with the launch of the first RippleNet Live On-Demand Liquidity (ODL) service in Japan. Also, as the two players build the “Internet of Value,” they leveraged Ripple’s blockchain solution RippleNet, which uses distributed ledger technology (DLT).

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RippleNet allows participants to connect directly with financial institutions using a single API. Enables fast and secure money transfers in over 40 currencies to over 70 countries. SBI Ripple Asia offers RippleNet to financial institutions and money transfer service providers in Japan, South Korea and some Southeast Asian countries.

Ripple’s ODL services provide on-demand liquidity using XRP tokens to offer instant payments in cross-border transactions. Ripple and SBI Holdings have teamed up to make cross-border payments from Japan to the Philippines faster and cheaper. SBI Remit will connect with and SBI VC Trade on RippleNet, allowing customers to use the digital asset XRP to eliminate pre-funding and reduce costs. This partnership helps businesses save money, access capital and expand their payment services.

SBI Remit, a company owned by SBI FinTech Solutions, is a leading money transfer service in Japan. They offer a fast and secure international money transfer service that takes just 10 minutes to complete. It’s a convenient and easy way to send money internationally.

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