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Atomic1221

SBI VC Launch with xRapid *ON JUNE 4th 2018* is going to send us to new ATH

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32 minutes ago, Atomic1221 said:

What it is...is the first large scale institutional use of xRapid in an exchange built by SBI, a consortium of 65 banks.

The exchange took 2 years to build from the ground up is spec’ed to handle extremely high institutional and retail volumes and will have XRP as the predominant currency. 

Aside from a “flexible” launch date, what is overly hopeful here? I think the XRPchat fam has gotten jaded from all the let-downs and the bear market has gotten the best of them

Like I said. I'm all in....my cards are on the table. It's in fates hands now and I hope you're right.  It definitely is exciting but i just have to see what the dealer is holding now.

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SBI - Soon Be Interstellar

 

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26 minutes ago, Trendkill said:

Soon moon

So Be It

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3 minutes ago, Trader-to-the-Crown said:

Holy ****!!!!! SBI is an absolute MAMMOTH:

http://www.sbigroup.co.jp/english/company/group/

Financial services, asset management, they are even in bio-tech!

Let's not get carried away. Let's see what happens with the exchange first. I'd be cautiously optimistic right now. 

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6 minutes ago, Qasim_786 said:

Let's not get carried away. Let's see what happens with the exchange first. I'd be cautiously optimistic right now. 

I hear ya, but I dont mind getting let down, I am used to it. I am hodling hardcore regardless. I do however love getting hyped up. That's how I came to purchase XRP in the first place. :)

Edited by Trader-to-the-Crown

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I asked my Japanese wife to dig deeper for me and yes SBI control a huge portion of money within Japan. Many of the direct businesses/banks/companies under SBI are also parent to their own subsidiaries and arms so I got a bit confused after a while of digging but basically SBI is on top of a huge tree.

 

tumblr_nfm3laxUQU1rllo7mo1_1280.png

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Hey @Atomic1221...I don’t mean to be a dampener but I was reading an earlier post in the zerperning where Simoun said SBI was waiting for Japanese regulation and they might not launch till December. I’ll quote it here....

 

7 hours ago, Simoun said:

Well, it appears SBI VC is not live yet.  The revamped website certainly signals progress.  The postcards also attest to prepping advanced registrants.  This seems to be the general understanding on Twitter and Reddit.  Here's a good sample post for reference.  Yep, there was no soft launch.

I'd like to share some insight from more research that I've done.  First, I'm excited to have found a full translated transcript of Kitao's 4/26/18 earnings conference call here.  It follows SBI's long Mar 2018 financial report here.  The parts on its DLT/DA strategy are clarifying, especially on the synergies that I wrote about earlier, as well as his scoop and perspective on the regulatory issues, both in Japan and the US.  (Essentially, Ripple/SBI is positioned to deal with any scenario, he says.) 

When launch?  The report says this:  "A full-fledged start date is expected to be decided in the summer of 2018, as the decisions of the regulatory authorities will be heeded."  I'm realizing now that the Japanese news article ambiguously referenced this, and then the other crypto news outlets inaccurately drew from that a summer launch date announcement.  Oy vey.  In fact, in the earnings conference call transcript, Kitao says this:  "So we will continue to look at the movements of the authorities, and with regards to the starting date, we would like to draw conclusion by December of 2018."

Yes, it says December 2018.  So, when winter?  Maybe, but we really won't know until Kitao provides us an update, because it all seems contingent on Japan's regulatory process. 

In any case, we know that SBI has around 8 million customers, and it wants them to be participants in the DLT/DA ecosystem.  We also know that SBI has an aggressive strategy to build cross-border corridors using xCurrent that XRP liquidity providers will be plugged into.

I'll probably post snippets on the details of the transcript and report as I re-review it all.

 

 

On a side note...I think you’re totally right and when they do go live it is going to rev up our zerps.                                                                 Here’s to hoping it will be sooner rather than later. 

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