The banking giant SBI Holding is one of the largest banks involved in the crypto world and has revealed that it wants to extend the adoption of Ripple XRP from Japan to Southeast Asia.
According to a report issued by SBI Holding which reveals the company’s strategic plan, it is stated that the SBI Remit platform dedicated to remittances will use xRapid, the Ripple product that uses XRP recently described as ODL – On-Demand Liquidity.
An important goal for the third crypto per marketcap that will see increases in its liquidity index after the recent 3 million XRP record set in the same month.
In fact, thanks to the continuous banking and financial needs of immediate liquidity, XRP is being used in its own ecosystem to provide services to ODL customers, i.e. all those users who need on-demand liquidity.
Moreover, the SBI Group’s plan is to extend the adoption of XRP in Asia in the field of remittances. In fact, the SBI Remit section uses MoneyGram’s payment network, already a partner of Ripple since June 2019, which today already uses ODL to send dollars to Mexico through XRP.
In addition, the Japanese bank SBI Group is already a partner of Ripple also for the launch of the payment app Money Tap, which uses XRPL – the XRP Ledger platform.
Money Tap is already available on iOS and Android devices and allows transactions to be made through phone numbers or QR codes and it currently seems to work with members of two national financial institutions, namely SBI Sumishin Net Bank and Suruga Bank.
The novelties for the crypto dedicated to banks seem to be favourable for a mass adoption of XRP, as well as for its understanding also at the political and regulatory level.
Last week, Ripple announced that it had joined the Blockchain Association and opened its offices in Washington, DC, making it the first blockchain company with a dedicated regulatory team in the US capital.