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XRP to Be Used by SBI for Remittance in Significant Alliance with Ripple, Says Company CEO

  • Yuri Molchan
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    The CEO of a large Japanese SBI group of companies has stated that XRP would be used for remittance and that collaboration on other issues with Ripple are on the horizon

XRP to Be Used by SBI for Remittance in Significant Alliance with Ripple, Says Company CEO
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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’.

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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.

Earlier this year, Kitao joined the Ripple’s board of directors.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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