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XRP will be used by several major banks around the world for cross border payments says SBI’s CEO

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XRP will be used by several major banks around the world for cross border payments says SBI's CEO
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Ripple’s major partnership in the east comes from Japan’s bank consortium SBI, which has several major banks under its wing. The CEO of SBI, Yoshitaka Kitao said in an interview with Boss’ monthly issue that major banks will use XRP around the world for Cross Border Payments.

A Twitter user and XRP enthusiast, @Dillon posted a tweet which translated the Boss’ monthly issue. He tweeted:

“SBI CEO @yoshitaka_kitao says he thinks 20 major banks will use XRP in 2019! And some other nuggets. Translated from the BOSS monthly issue Feb 2nd 2019. Lets go”

As per the interview for Boss, which is a 24-page monthly issue about the future of payments, Yoshitaka Kitao said that he was looking for new ways to integrate XRP into the payment system and that he wants to implement XRP massively before the 2025 Osaka Expo.

Mr. Kitao continued that it was difficult to make payments via Bitcoin and that he believes that XRP would be an alternative. He continued that he wanted to set the stage for XRP to take off when the time was right.

He continued:

“I think 2019 is the year when approximately 20 of the world’s major banks would start to incorporate XRP for international money transactions.”

Kitao added that Japan already has a money transfer application called “Money Tap” which used Distributed Ledger Technology [DLT] but not XRP and that he wants to inculcate XRP via “Corda” which is R3’s application for transferring assets.

With the recent R3 and SBI Holdings partnership, Mr. Kitao’s dream about setting XRP for a massive implementation in the financial system is closer to reality.



Yoshitaka Kitao stated:

“We would like to create a joint venture with R3 and SBI in Japan like we did with Ripple. And start up the consortium as soon as possible and develop the system while holding the conferences in which many people can learn the system in parallel. In this way, by using XRP, visitors from all around the world come to Japan can pay bills  without exchanging the money from US dollars to Japanese Yen.”

Yoshitaka Kitao said that as soon as this partnership is done, they will be focussing on expanding this system across the world and that it was his dream to achieve this. Kitao said:

“Ripple has a strong feature on transferring money, therefore, we can take advantage by using Ripple for international money transfer and the rest of the transaction will be done using R3’s Corda… Our current strategy is to expand worldide and complete the system before Osaka EXPO 2025”





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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.

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

Arijit Sarkar

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