The CEO of SBI Holdings Co-signs Ripple Partnership Expansion

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• Yoshitaka Kitao supports the growth of the relationship between Ripple and SBI.
• Ripple’s ODL technology will be the focus of the growing collaboration.
• The investigation into Ripple and XRP remains a pressing concern.

On September 28, the CEO of SBI Holdings, one of the top financial conglomerates in Asia, announced the most recent information about the partnership between Ripple and I-Remit. Yoshitaka Kitao tweeted about the company’s most recent collaboration.

I-Remit expands partnership with Ripple to further leverage On-Demand Liquidity for treasury management https://t.co/pG3E5C9HO7

— 北尾吉孝 (@yoshitaka_kitao) September 27, 2022

According to sources, the two businesses’ expanding ties will be centered on enhancing cross-border payment processing with Ripple’s On-Demand Liquidity (ODL) technology.

It is noteworthy that SBI Holdings has been a longtime supporter of Ripple, and the two companies have collaborated on several projects in the past. In addition to I-Remit, Ripple also teamed up with several other Japanese banks.

In Japan and other nations where SBI has conducted business since 2019, the banker plans to implement XRP into the financial system. Thus, Asia remains an important market for Ripple’s use of XRP in ODL corridor transactions, which is ideal for Kitao’s objectives.

Even though the SEC filed a lawsuit to thwart Kitao and Ripple’s ambitious objectives, the company is still expanding. It constantly reports new collaborations on practically every continent in the world.

Furthermore, Ripple’s ambitions go beyond just private cross-border payments to include the burgeoning field of CBDCs. A few weeks ago, it was made public that Ripple would participate in the Digital Dollar Club’s October project to launch a US “state” cryptocurrency.

Despite some obstacles, Ripple is making progress in its ambitious plans to revolutionize the way cross-border payments are processed. The company’s strategic partnerships and product innovations make it a top player in the global payment market, which bodes well for its future growth. On the other hand, the probe into Ripple and XRP continues to be an issue that cannot be ignored.

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