SBI, Japanese Financial Giant, Initiates Plans To Boost Ripple And Drive The Market Cap Of XRP Ahead Of Bitcoin

According to the CEO of SBI Holdings, the organization has initiated plans to boost the adoption of Ripple’s technology on a global scale. The company also plans to make XRP the biggest cryptocurrency per market capitalization displacing Bitcoin. Yoshitaka Kitao, during an interview with Coin Post, said that Ripple and XRP will take the lead in a market-wide rebound. In his words:

“There is a widespread increase in the practical use of DLT technology for international remittance. This includes the use of Ripple’s digital asset. Major companies overseas like Santander and other big names are making moves. Major money movers are also starting to use xRapid which depends on XRP. The number of companies joining RippleNet is also increasing substantially.”

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.465735
-0.19%

Right now, RippleNet has over 200 companies under its umbrella. Kitao stated that Bitcoin still hasn’t found a primary use case even if XRP has found its primary use case. This will open the way for XRP to become the largest cryptocurrency per market capitalization. He continued:

“Until now, Bitcoin has no value. Its high price makes it difficult for the industry to find practical use cases for the technology. So, I think XRP will most likely become the number one cryptocurrency asset in the world. That is our aim.”

During the interview, Kitao made reference to R3’s Corda Settler. The Corda Settler was designed by R3 in collaboration with the Corda foundation to be used for transaction settlement between cryptocurrencies and regular assets. The first digital asset that would be used on this platform is XRP according to R3. R3 Consortium is an enterprise blockchain group made up of more than 200 banks

SBI Holdings Has Always Had Ripple’s Back

The Japanese financial giant, SBI Holdings, is an investor in Ripple and R3. This is why it has an interest in the success of both firms. As per a report on smartereum.com, SBI Holdings praised Ripple acknowledging the potential of its technology in cross-border remittance. This was in the financial report that the company released recently.

In the report, the company also referred to its implementation of the R3 blockchain along with Ripple’s Blockchain. It stated that this was one of its strategies to boost a worldwide standard for things like trade finance and global remittance.

Kitao, a while ago, gave a speech about the impact his company intends to make by collaborating with R3 and Ripple. He said that these blockchain solutions will significantly impact the global remittance network and take a share from SWIFT’s market. The CEO of the financial firm said that SWIFT has run out of options. In his words:

“Swift has run out of options. The global remittance service provider has given up on what they can do internally. We now have a global standard. If you use R3’s Corda Settler which is already embedded with XRP, you’ll get the standard. This is good for Corda, Ripple, and SBI. It’s a win-win.”

What do you think? Does SBI have what it takes to push the XRP token upward in adoption and price to the point that it surpasses Bitcoin per market capitalization? If there is the possibility of this happening, how long do you think it would take for it to happen?

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