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Ripple/XRP: SBI Holdings and R3 extend their partnership to drive adoption of Corda blockchain




Ripple/XRP: SBI Holdings and R3 extend their partnership to drive adoption of Corda blockchain
Source: Unsplash

R3 has been busy with its partnerships around the world as it has announced a partnership with Japan’s biggest banking consortium, SBI Holdings to drive Corda adoption.

The partnership with SBI Holdings and R3 was announced previously last year. In addition, as per the press release by SBI, it became the largest shareholder in R3 through investment. Moreover, SBI Holdings will have access to Corda licenses in Japan, but with the new terms, SBI Holdings will support collaboration with overseas bases of R3 companies and Corda partners.

SBI Holdings’ official website stated:

“We are also considering business development not only for Japan but also for East Asia. The SBI Group is expanding its capital and alliance with digital asset-related venture companies to build digital asset-based ecosystems.”

The joint venture between SBI Holdings and R3 will be called, “SBI R3 Japan Co., Ltd” and their work will include a provision of CORDA, distributed ledger platform, and a set of related work.

The head office for this venture will be located at Izumi Garden Tower 1-6-1 Roppongi, Minato-ku, Tokyo, with an investment ratio of SBI at 60%, while that of R3 is 40%.

R3 is a US FinTech company with strengths in blockchain related technology [Distributed Ledger Technology], developing and maintaining Corda which is a distributed ledger technology platform. R3 has over 250+ partners spread across the world and it has added another partner to its list, ING bank, which will make use of Corda’s payment solutions.

With Ripple being in partnership with SBI, it will pave new paths for Ripple and XRP in becoming a standard for payment settlement instrument.

@Crypto_ginger, a Twitter user replied:

“Yeah, the Asian market is about to take off. And how fitting, right before the 2020 Olympics. Japa IS looking to go cashless by then.”

Another Twitter user @crypto_Daz, commented:

“SBI is an awesome Ripple customer and they are bullish on XRP.
R3 and Ripple have a rocky past, but kissed and made up the end of 2018. R3 made XRP the first crypto on their program. This may be really good news for Ripple and XRP.”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Ripple: Cryptocurrencies can reduce friction in global commerce, claims CEO Brad Garlinghouse

Arijit Sarkar



Cryptocurrency can reduce the friction of global commerce, says ’s Brad Garlinghouse
Credit: Pixabay

Given the constant disregard for cryptocurrency and blockchain by financial institutions, prominent crypto-leaders have personally been preaching the technology for furthering global adoption. One such figure is Ripple’s CEO, Brad Garlinghouse.

Ripple’s Garlinghouse has always made an effort to minimize the common man’s speculation around tokens. Recently, he made headlines for sharing similar views on Recode Decode, where he said,

“You went from illicit activity to speculation, and today you’re going from speculation to utility.”

While exhibiting his support for cryptocurrency adoption, Garlinghouse made it clear to viewers that he did not expect banks and governments to “be obliterated by the new technology”. He also shared his vision for the future, stating that the system can be changed only by working with the system.

The Vox interview also touched upon Garlinghouse’s claim that crypto-adoption would result in the direct reduction of friction in global markets. He said,

“These are profound technologies that can really benefit society in lots of ways. We can reduce the friction of global commerce, we can allow people globally more access to the economies around the world to compete. I think that’s actually a really good thing.”

He further argued that different currencies, including fiat and crypto, could find specialized use-cases for different things. Along the same lines, he also supported Bitcoin [BTC] investments alongside developments in the XRP ecosystem, as he believed that both work best owing to their unique use-cases. The interview finally ended with Garlinghouse mentioning this on a cautious note:

“Focus on the substance, not the hype. It’s going to impact lots of parts of lots of industries in the same way the internet impacted lots of industries.”

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