That Ripple was very strong in Japan, where it has an established partnership with SBI Group, is no mystery to anyone. And it is from this partnership that started the incredible bull run
that has crowned XRP king of the day on the markets.
is now trading above $0.70, after a very slight correction. The best of 24 glorious hours for the entire sector, with Bitcoin and Ethereum continuing to lead the way. Ripple speaks more and more Japanese – new service with SBI
The news is one of the strong ones – and one for which we might even decide to open long positions on Ripple. We can do so with the Capital.com platform (here for the free and unlimited virtual account)
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Part ODL together with S
SBI Holding is one of the historical partners of Ripple Group. We’re talking about one of the most important banking conglomerates in Japan, which has been promoting services based on RippleNet for some time now and is also a shareholder of one of the companies that belong to XRP. What made the price of XRP skyrocket was the implementation of a new service, SBI Remit, which will be used to offer trans-national
payments of small amounts at very competitive prices.
This is a service that, particularly in Japan, will be able to outperform the competition. To date, the country of the Rising Sun is the most expensive for those who have to make small transfers abroad, the typical remittances of migrants
, with an average of over 10% in fees. The implementation of ODL and Ripple in SBI’s service will allow costs to be up to 100 times lower, offering a platform, to start with, to those who need to send money to the Philippines.
The service will later be active towards other countries as well, although the timing is, at least for the moment, unknown. All this while the main opponent of Ripple, Stellar XLM, would be in negotiations for the purchase of MoneyGram, for a fight to the last blow in the field of trans-national payments. On the whole, the services of RippleNet, with the addition of SBI Remit, are active in 55 countries around the world, with a target that concerns those geographical areas where the remittances of emigrants have interesting volumes and prohibitive costs in terms of co
Ripple continues its expansion despite lawsuit with SEC…
The lawsuit against SEC is at a stalemate, with skirmishes between lawyers continuing despite the judges asking over and over again for an out-of-court settlement. This does not appear to be possible, at least for the time being. The parties’ positions would appear to be irreconcilable, despite the fact that continuing the lawsuit would be detrimental to XRP in particular.
Ripple’s outlook remains very positive however, not least because of these new deals in Japan and the new services launched. Even with major problems in the US, Ripple continues its expansion into other geographies, an expansion that will continue to have very positive price reflections.