SBI Promotes XRP to Customers As Consortium Plans to Take Over 50% of Ripple Network

[3GO3D]

Hi, Just read this article on Cryptocurrency News Now from NewsLogical,  "SBI Promotes XRP to Customers As Consortium Plans to Take Over 50% of Ripple Network"  Good News or what...

[3GO3D]

9 minutes ago, 3GO3D said:

Hi, Just read this article on Cryptocurrency News Now from NewsLogical,  "SBI Promotes XRP to Customers As Consortium Plans to Take Over 50% of Ripple Network"  Good News or what...

 

SBI Ripple Asia, a consortium of large banks across Asia, is working on promoting XRP to its large user base as it prepares to take over at least 50% of the whole Ripple network, a document released by SBI Holdings has shown.

In the report, which contains SBI’s performance and strategy, the group says it is going to be making use of XRP for remittance between Japan and South-East Asia, pointing that SBI Remit, a subsidiary of the SBI Holdings will increasingly make use of Ripple’s On-Demand Liquidity service (xRapid).

SBI Holding is promoting the adoption of XRP in the region by gifting the asset to newbies. Morning Star Japan app, a platform where SBI has around 48.82% shares, gifted 30 XRP to around 15,000 Shareholders with minimum of 1 trading unit (100 shares) as of September 30, 2019.

Other SBI Group companies are as well considering to reward shareholders some XRP through a releated scheme.

Also SBI VC Trade is gifting SBI NEOMOBILE SECURITIES customers JPY 1000 worth XRP when they open new account on the platform.

Beyond all that, SBI Ripple Asia, a consortium created by Ripple, SBI and some other financial giants, is working to cover nearly 50% of the overall Ripple network once remittances from Japan to banks in Southeast Asia is functioning. The remittance corridor would be made to work in partnership with SBI Remit, SBI Ripple Asia and several banks in Southeast Asia.

In another development, MoneyTap, a business investment by Ripple and SBI Ripple Asia, partnered with Japanese mobile e-payment firm PayPay with more than 10 million users.

The partnership will make PayPay, with connection to 1 million merchants in the country, will start using MoneyTap, a cross-border remittance tool making use of Ripple’s xCurrent.

PayPay will link up with MoneyTap to catch up with the global trend of fast, efficient, and cheap remittance.

[Julian_Williams]

1 hour ago, 3GO3D said:

 

SBI Ripple Asia, a consortium of large banks across Asia, is working on promoting XRP to its large user base as it prepares to take over at least 50% of the whole Ripple network, a document released by SBI Holdings has shown.

In the report, which contains SBI’s performance and strategy, the group says it is going to be making use of XRP for remittance between Japan and South-East Asia, pointing that SBI Remit, a subsidiary of the SBI Holdings will increasingly make use of Ripple’s On-Demand Liquidity service (xRapid).

SBI Holding is promoting the adoption of XRP in the region by gifting the asset to newbies. Morning Star Japan app, a platform where SBI has around 48.82% shares, gifted 30 XRP to around 15,000 Shareholders with minimum of 1 trading unit (100 shares) as of September 30, 2019.

Other SBI Group companies are as well considering to reward shareholders some XRP through a releated scheme.

Also SBI VC Trade is gifting SBI NEOMOBILE SECURITIES customers JPY 1000 worth XRP when they open new account on the platform.

Beyond all that, SBI Ripple Asia, a consortium created by Ripple, SBI and some other financial giants, is working to cover nearly 50% of the overall Ripple network once remittances from Japan to banks in Southeast Asia is functioning. The remittance corridor would be made to work in partnership with SBI Remit, SBI Ripple Asia and several banks in Southeast Asia.

In another development, MoneyTap, a business investment by Ripple and SBI Ripple Asia, partnered with Japanese mobile e-payment firm PayPay with more than 10 million users.

The partnership will make PayPay, with connection to 1 million merchants in the country, will start using MoneyTap, a cross-border remittance tool making use of Ripple’s xCurrent.

PayPay will link up with MoneyTap to catch up with the global trend of fast, efficient, and cheap remittance.

link?

I have heard rumours of these developments , but this sounds more substantial.  Announcement just before SWELL?  Is that coincidental?

 

 

 

[Jeffdean13]

5 minutes ago, Julian_Williams said:

link?

I have heard rumours of these developments , but this sounds more substantial.  Announcement just before SWELL?  Is that coincidental?

 

 

 

https://newslogical.com/sbi-promotes-xrp-to-customers-as-consortium-plans-to-take-over-50-of-ripple-network/

[DtotheK]

"as it prepares to take over at least 50% of the whole Ripple network" what does this mean? Nodes? liquidity? Shares? Volume? Seems like a strange way of wording their intention.. quite aggressive and opens FUD i.e. SBI 51% attack.

[Will_]

25 minutes ago, DtotheK said:

"as it prepares to take over at least 50% of the whole Ripple network" what does this mean? Nodes? liquidity? Shares? Volume? Seems like a strange way of wording their intention.. quite aggressive and opens FUD i.e. SBI 51% attack.

I'm guessing it means accounting for 50% of the Ripplenet volume. Strangely worded though!

[Misamisa]

41 minutes ago, Jeffdean13 said:

https://newslogical.com/sbi-promotes-xrp-to-customers-as-consortium-plans-to-take-over-50-of-ripple-network/

No proof at all, need a credible source rather than some rando crypto website

[Julian_Williams]

SBI have a shareholding in Ripple (Maybe 5%) and Kitao in on the board - so this is a coordinated development.  It is undoubtedly big good news

[Julian_Williams]

I have not had time to watch this yet - but it looks like the same story

 

[3GO3D]

9 hours ago, Misamisa said:

No proof at all, need a credible source rather than some rando crypto website

Please follow this Link, Pages 42/43 should give you a more positive outlook of XRP's Rosy prospects in the Orient. Hope this is the credible sort of source you trust... What's a " rando " anyway ?  Pages 54-58 are an interesting read too. 

https://www.sbigroup.co.jp/english/investors/disclosure/presentation/pdf/191030presentations.pdf

Edited November 1, 2019 by 3GO3D
added pages

[3GO3D]

2 hours ago, codiusrex said:

“The partnership will make PayPay, with connection to 1 million merchants in the country, will start using MoneyTap, a cross-border remittance tool making use of Ripple’s xCurrent.“
 

The OP article references @Ripple products before rebranding; eg, xCurrent.

@3GO3D When was this article originally written?

No problem...  Article was written on the Nov 1st 2019... SBI Report Document was penned 30th September of this Year.