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Archbob

How much influence does SBI really have and can push?

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Seems like everyone is excited about SBI and R3 and around here it seems like everyone thinks that SBI is come banking giant that has massive global pull. But realistically according to their last financial report, they only have about 4.6 trillion Japanese Yen in Total assets which is about $46 billion dollars. That makes them about 1.7% of the size of true giants like J.P. Morgan or MUFJ(also a ripple customer but not involved nearly as SBI is). According to their total assets, SBI is actually more akin to a regional bank in size instead of a huge national or international bank so I'm begginning to think that SBI/R3's true influence and reach is being inflated in the XRP community. They aren't even that close to being top 100 bank in the world or even top 10 in Japan.

I mean, yes, I'm sure they have some influence but the question is how much. 

How much your CEO tweets about XRP and crypto is not an indicator of how much he/she has influence in the industry. I think total assets owned by the bank is a much better indicator of that.

What do you guys think?

Edited by Archbob

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18 minutes ago, Archbob said:

Seems like everyone is excited about SBI and R3 and around here it seems like everyone thinks that SBI is come banking giant that has massive global pull. But realistically according to their last financial report, they only have about 4.6 trillion Japanese Yen in Total assets which is about $46 billion dollars. That makes them about 1.7% of the size of true giants like J.P. Morgan or MUFJ(also a ripple customer but not involved nearly as SBI is). According to their total assets, SBI is actually more akin to a regional bank in size instead of a huge national or international bank so I'm begginning to think that SBI/R3's true influence and reach is being inflated in the XRP community. They aren't even that close to being top 100 bank in the world or even top 10 in Japan.

I mean, yes, I'm sure they have some influence but the question is how much. 

How much your CEO tweets about XRP and crypto is not an indicator of how much he/she has influence in the industry. I think total assets owned by the bank is a much better indicator of that.

What do you guys think? 

Yes

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I think in Japan SBI has influence via its consortium. Someone else - maybe Crypto Eri or other resident can confirm this.  Don't know in relation to the rest of the globe.  Yet Japan is a global economic force so it stands to reason that SBI + its banking consortia = relative influence globally.  Again how to quantify that is beyond anything I've ever read.

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2 hours ago, Archbob said:

Seems like everyone is excited about SBI and R3 and around here it seems like everyone thinks that SBI is come banking giant that has massive global pull. But realistically according to their last financial report, they only have about 4.6 trillion Japanese Yen in Total assets which is about $46 billion dollars. That makes them about 1.7% of the size of true giants like J.P. Morgan or MUFJ(also a ripple customer but not involved nearly as SBI is). According to their total assets, SBI is actually more akin to a regional bank in size instead of a huge national or international bank so I'm begginning to think that SBI/R3's true influence and reach is being inflated in the XRP community. They aren't even that close to being top 100 bank in the world or even top 10 in Japan.

I mean, yes, I'm sure they have some influence but the question is how much. 

How much your CEO tweets about XRP and crypto is not an indicator of how much he/she has influence in the industry. I think total assets owned by the bank is a much better indicator of that.

What do you guys think?

Sounds like even if a small percentage of the volume contained in their consortium of banks is involved with XRP, it will dwarf current levels of volume.

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2 hours ago, Tinyaccount said:

Talking about MoneyTap app:

 

I'm actually looking at that as well. There's only 3 banks live with it now, but its strange that its generating about 0 volume. It should generate at least some consistent volume, shouldn't it?

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26 minutes ago, Archbob said:

I'm actually looking at that as well. There's only 3 banks live with it now, but its strange that its generating about 0 volume. It should generate at least some consistent volume, shouldn't it?

MoneyTap is only xCurrent for now. I think they do have plans to incorporate xRapid for cross-border transactions in future though.

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The significance and importance of SBI is huge. 

You should not compare SBI to the largest banks on the globe. But you should compare it to what currently is involved in Crypto and particular XRP. Then SBI could potentially be the game changer in the phase we are.

That if consider their numbers, but also the signal to the world if such bank consortium steps in.

 

I am looking forward!

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4 hours ago, xrphilosophy said:

I think in Japan SBI has influence via its consortium. Someone else - maybe Crypto Eri or other resident can confirm this.  Don't know in relation to the rest of the globe.  Yet Japan is a global economic force so it stands to reason that SBI + its banking consortia = relative influence globally.  Again how to quantify that is beyond anything I've ever read.

That consortium is called SBI Ripple Asia Co., Ltd. - Ripple Labs has 40% ownership of this joint venture that includes 61 Japanese banks.

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16 minutes ago, BrownBear said:

That consortium is called SBI Ripple Asia Co., Ltd. - Ripple Labs has 40% ownership of this joint venture that includes 61 Japanese banks.

Correct.  My sentence may have been misleading/poorly written.  When I said 'someone can confirm this' I didn't mean the long long standing consortium known as SBI Ripple Asia and the 61 banks, but how much "influence" they have.  It would seem they have a tremendous influence, but more details need emerge regards the actual 'XRP deployment usage influence' ingrained in their model.  If we go by the tweets of the CEO, then the influence is massive, and practically a done deal.  It depends on where one stands on this issue to determine the influence.

I for one have never doubted SBi's intentions nor the influence of the Japanese economy itself upon the global scene.  Was just trying to provide a metered response to skeptical original post, 'How much influence do they have'.  Again Crypto Eri seems to speak to this quite a lot, including on a video just released today.  The facts always get muddled in this XRP space-especially in a bear market!

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Big banks are not going to jump into this until the advantages of the tech are proven.  It was always going to be the small and medium sized banks who would be first. Think of them as the testing ground...where everyone else is watching to see how it works, what the pros and cons are. Once they see the advantages and savings then the deluge will start.

SBI is very important...it’s not small like Euro Exim, plus it has a vested interest in seeing xrp being used (hence their push with R3....which is giving them exposure to the top banks in the world) 

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