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Japan’s SBI Bank has joined forces with Ripple for International Payment Solutions

The giant SBI Holdings has been known to partner up only with the best global partners. Although Japan’s SBI has been collaborating with Ripple since around 5 years ago, the Hamamatsu Iwata Shinkin Bank, from Shizuoka, Japan has joined forces with Ripple to create SBI Remit. This union has been created in order to provide an international remittance platform that would also benefit Japan, taking into account the statistics which suggest that the numbers of foreign workers in Japan is rising more and more. The platform provides many services including international monetary transfers and global payment solutions.

Why Ripple?

As previously mentioned, it is not the first time SBI collaborates with the US technology company Ripple. According to the press conference, SBI stated that the main factors which triggered this union was the great services provided by the real-time gross settlement system which Ripple uses; allowing users to access speedy deposits and benefit from low fees.

SBI Remit a real success

The Hamamatsu Iwata Shirkin Credit Bank already had an international remittance platform, but with the help of SBI Remit, the expansion will take place at a more global scale; namely in the Asia Pacific geographical area. This union will convert SBI Remit into the most popular international remittance company of the Asia Pacific region.

Ripple is the go-to choice for many other financial companies

Apart from the notorious SBI Holdings group and SBI Japan, Ripple as also been chosen by UK’s InstaReM and Brazil’s BeeTech in order to expand their businesses and connect users across the Atlantic.  The blockchain company has also been chosen to create this safe corridor for users to solve their payment solutions between Lynx Global in Australia and Finfan from Vietnam. It seems that the US technological blockchain company, Ripple, has proven to be a trustworthy and beneficial ally for financial companies.

 

Source: Japan’s SBI Bank has joined forces with Ripple for International Payment Solutions

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