The other day, while speaking at the FIN/SUM 2019 event that took place in Japan, the head of SBI financial behemoth, Yoshitaka Kitao, stated that SBI plans to collaborate with Ripple on several issues. Among those will be the use of XRP for remittance services.
Ripple gets another strategic partner
Recently, a Twitter user (and a member of the XRP community) @sentosumosaba published a post which cites the CEO of SBI Yoshitaka Kitao. He said that his company is going to utilize XRP for fast transnational remittance payments and that the company will cooperate with Ripple on other issues too.
He stated that for SBI this alliance with Ripple is ‘very significant’.
Mr. Kitao Finsum yesterday "We will use the virtual currency XRP for remittance" & “We are focusing on making Moneytap into the Group's flagship product. We are going to have various relationships with Ripple in the US, and this alliance is very significant.” More in coming video— CryptoEri (@sentosumosaba) September 5, 2019
SBI CEO on Ripple’s board, building MoneyTap together
In the fall last year, Ripple and the financial giant SBI launched a MoneyTap payment application powered by XRP and Ripple’s xCurrent technology. Yoshitaka Kitao is referring to this app in the tweet, promising to make it the SBI’s major product.
Hi Alex. He is saying, as a first tier public company on Tokyo exchange (blue chip) XRP will be utilized in MoneyTap. Not all the banks in the consortium are strong in cross-border remittances but also, he announced Ripple will become shareholder in MoneyTap.— CryptoEri (@sentosumosaba) September 5, 2019
Earlier this year, Kitao joined the Ripple’s board of directors.