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SBI is preparing to use XRP (Japanese press release)

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Nothing new with Ripple. They love Bitcoin so much that they to often forget to talk about their own RCL or XRP.
Once again this SBI Holdings interview is more like a marketing campaign for Bitcoin. Wonder if SBI Ripple Asia still exists.

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Movement of virtual currency trading brokerage business entry
June 26th 4:46

With the increasing use of virtual currencies on the Internet such as bit coins, among financial institutions, movements to enter into brokerage business of virtual currency transactions are successive.

SBI Holdings establishes a new company and begins a business to mediate transactions between cash and multiple virtual currencies from this summer.

Regarding the virtual currency, in the Heisei era three years ago, in response to a bankruptcy of a company that mediated dealings, the government introduced restrictions, and in April the real currency and virtual currency A business entity that deals with transactions has become a registration system.

The move to enter the virtual currency business is continuing as a mechanism for protecting users by these regulations is in place, and in addition, kabu.com securities of Internet securities and money partners are indicated to enter.

SAIO Ryo, president of SBI Virtual Currency, said, "I think that the market size of the virtual currency will become even bigger, so we want to provide safe and secure service for users."

The main virtual currencies such as bit coins tend to rise in price with increasing use, but experts note that transactions are overheated due to speculative purpose funds, and attention is paid to sudden fluctuations in prices It is pointed out that it is necessary.

from google translate

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my personal speculative opinion is... they have to use multiple "virtual currencies" right now because xrp is not liquid enough

this might change or it might not, it'll be a trade off between xrp's speed and bitcoin/ethereum's liquidity and volume

probably start by experimenting with a few as they've stated, then hopefully miguel can pull off a big win for xrp later

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26 minutes ago, LaBelleSaison said:

I watched Mr. Kitao's oral presentation video of today in relevant parts. His statements were mostly based on the PPT (p119-125, 134-141) but he mentioned/clarified the following:

- He believes that XRP has a very good potential of becoming the core currency in the crypto world. BTC cannot be used by FIs as it lacks mechanisms for central control and compliance.  

- SBI will make the best efforts to raise the value of XRP, which he believes will eventually contribute to the group, XRP holders, and XRP users.

- SBI will also make the best efforts to promote the global use of Corda, which is not specific to money remittances but covers a broader range of usages.

- At present, SBI Max is planned to be established in Hong Kong.

His statement shows that he has a strong expectation of and belief in the success of Ripple, ILP, and XRP. As the stakeholder of SBI Ripple Asia (60%) and Ripple (11%), SBI has direct and common interests with Ripple in the latter's success.  At the same time, SBI is trying to play a lead role in as broad areas of Fintech as possible, including R3/Corda. As for the recurring question on the relationship between Ripple/SBI and R3, he does not seem to expect a competing relationship between them due to the Ripple's focus on money remittances. 

He did not mention SBI Coin or other crypto currencies that SBI has been reported to be thinking about, but his statements strongly indicate that, as long as money remittances are concerned, SBI expects XRP to be the core currency.  

@LaBelleSaison thank you

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On 6/9/2017 at 11:07 PM, Galahad said:

Oh great! More good news that won't have any effect on XRP's price.

If this is all you care about, then go do something with your life. The price WILL go up, and you whining about it all the time isn't going to change a thing. Think about how much energy you spend spreading negativity...now, convert that to a beneficial thing: living your life!

When anyone spreads negativity, this is how I feel (most of the time)

 

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On 6/28/2017 at 7:19 AM, hamasugu said:

CEO Kitao of SBI Holdings is a statement-of-account meeting in March,
 and he is telling about combined use of interledger and XRP . 

Perfect.  We are on the verge of something historic!

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