SBI's virtual 'coin' to slash payment costs

[LaBelleSaison]

https://asia.nikkei.com/Business/Companies/SBI-s-virtual-coin-to-slash-payment-costs

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Unlike digital money that assumes the value of an existing currency, the financial services group's coins will be virtual currency and be tradable on the market.

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Bitcoin and other virtual currencies are often used for speculative purposes due to large swings in their value. SBI's coins, on the other hand, will be intended for use in payments, and the token is supposed to maintain a stable exchange rate to the Japanese yen.

Seems like heading for something different from the recently reported J-Coin which sounded like digital money pegged to JPY.  

Could we expect that XRP plays a role to maintain "a stable exchange rate" to JPY? 

 

[Live4xrp]

9 minutes ago, LaBelleSaison said:

Could we expect that XRP plays a role to maintain "a stable exchange rate" to JPY?

...Or is the S-coin, XRP?

[Kiir]

Having private, esentially as stable as your fiat currency, so to speak, coin is logical, at least at first look.

You use it to have your own, stable digital currency and use Ripple and XRP for everything else.

I'm actually wondering if this is what other countries will do or is there a more optimal way for it...

[LaBelleSaison]

The Japanese Authorities approved today the application for registration from several exchanges including SBI Virtual Currencies. As being discussed in another thread, at present only Bitcoin is listed as currencies to be traded at SBI, but XRP is expected to be added sooner or later. The timing of announcement of S-Coin does not seem to be coincidence. Finally things are moving forward?