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  15th, December 2020 (4 months ago)

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CEO of the SBI Group, Yoshitaka Kitao, has taken to Twitter to share the news of the company's subsidiary, SBI Remit, teaming up with Daiko Bank in Japan to conduct instant payments based on RippleNet. Financial giant SBI is also a major partner of Ripple in Japan. XRPImage via Twitter Remittances in Japan become more important than before In his tweet, Yoshitaka Kitao shared a news article on the SBI Group website.

Payment network built by Ripple and expanded by MoneyGram

SBI Remit emphasized that it uses a network built by Ripple and then substantially expanded by its major partner, MoneyGram, which has 350,000 branches in 220 countries and is also connected with foreign financial institutions and banks.

SBI Remit primarily conducts remittances between Japan and Thailand.

SBI launches crypto lending service

As reported by U.Today last week, SBI, Ripple's major partner in Japan, had debuted a crypto lending service that works with such cryptocurrencies as Bitcoin, Ethereum and Ripple's XRP.

The service operates on the company's digital exchange, SBI VC Trade.


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