Recently, the Japanese regulatory authorities have given the green light to SBI Holdings – a Japan-based firm with top banking divisions including SBI Virtual Currencies, SBI FXTRADE, and SBI Securities – to go ahead with its collaboration with Ripple Inc., a U.S-based firm, to launch SBI Ripple Asia – a new joint venture.
Ripple Inc. and SBI Holdings have been working on the recently approved venture since last year, when both firms talked about launching Ripple-based products, such as the MoneyTap app which would be launched soon. Regulators in Japan have given both firms the go-ahead to transmit, handle, and process electronic settlements as an official Electronic Settlement Agency Service Provider. This partnership will let users send P2P payments quickly using the Distributed Ledger Technology of Ripple to facilitate settlements.
XRP (XRP) Price Today – XRP / USD
XRP (XRP) is currently worth 54 cents after an increase of about five percent over the past twenty-four hours. XRP (XRP) currently has a market cap of $21.68 billion and its trading volume over the past twenty-four hours is $789.56 million.
Ripple to Launch “Ripple for Good”
Ripple is set to launch “Ripple for Good” – a social impact program. This was revealed in a press release on the 27th of Sept. Ripple plans to contribute $25 million to the initiative and raise $80 million from donations to invest in projects that are focused on financial and educational inclusion.
According to the press release, the firm is still evaluating which projects would be an integral part of the initiative. The firm said that the projects are more likely to be those focused on educational programs in the sphere of Technology, Science, Financial Technology, Engineering, and Mathematics.
XRP (XRP) is the native coin of Ripple Inc., and the firm is said to hold about 60 percent of the digital currency. The value of XRP has been responding to the positive news and developments around Ripple, and more positives trends around the firm could push the value of the coin higher.