- RippleNet gets a new member, TPBank
- SBI Confirms Japan-Vietnam Remittance Service with Major TPBank
SBI is one of the top supporters of Ripple. The Japanese financial giant will benefit a great deal if Ripple’s technology continues to succeed. In our last Ripple news, we talked about how the RippleNet family was welcoming new members. Our Ripple news today is about the Japan-Vietnam remittance service that has been created due to a collaboration between TPBank, SBI, and Ripple.
Ripple Launches New Remittance Service in Collaboration With Major Japanese Bank
In our previous XRP news, SBI entered a partnership with TPBank to use the Ripple blockchain for financial wire transactions. At the time of the initial announcement, Nguyen Hung, the CEO of TPBank said that his bank is going to work with SBI to speed up financial transactions. Now, the company has opened up about a new remittance service from Japan to Vietnam that will be powered by RippleNet. The announcement was confirmed on their official Twitter page and official blog;
“SBI Ripple Asia, SBI Remit and TPBank (Vietnam) announced the start of the first Japan-Vietnam remittance service using #RippleNet. We will also develop remittance services that incorporate crypto in the future. The booming Vietnamese economy is one of the most attractive markets around the world. TPBank, which the SBI Group has invested in, in 2009 and owns a 19.9% share of, has achieved steady accumulation of loans and non-interest income such as settlement services, by actively utilizing cutting-edge technologies. The adoption of RippleNet will further differentiate the company from its competitors. We will also develop remittance services that incorporate crypto-assets in the future.”
XRP (XRP) Price Today – XRP / USD
Name Price 24H % $0.883
This isn’t the first time a country in Asia is integrating Ripple’s technology. Earlier this week, another company, Nium, partnered with Visa Direct. The goal of this partnership is to enable instant payments to Indonesia. This partnership was completed after the bank received its license from the Bank of Indonesia. The Nium partnership was announced around the same time Japanese Softbank, Ripple’s partner got into a merger with a messaging app, Japanese LINE.
Japanese Softbank is behind Ripple’s famous MoneyTap, the Ripple-powered payment app. MoneyTap, on the other hand, recently partnered with PayPay paving a way to benefit from the deal.
All these partnerships surrounding Ripple’s technology are promoting the popularity of the blockchain and other technologies by the company. This brings Ripple one step closer to achieving its ultimate goal of global adoption. While they may not all require the use of the XRP token, the adoption is still a bonus.