Ripple provides payment solutions for companies worldwide, to be able to cross-border transactions easily, quickly and securely. Through the use of On-Demand Liquidity (ODL) Transfers can be performed almost in real-time. Through a new cooperation in the Asia Ripple will open up the payment korrdior between Japan and Vietnam.
SBI Ripple Asia and SBI Remit, a cross-border money transfer platform, the company operates as a subsidiary of the Japanese financial giant SBI Holdings to launch a new payment service between Japan and Vietnam. The new transfer platform will run on RippleNet with the Tien Phong Commercial Joint Stock Bank, a Vietnamese financial institution, on Board.
According to a press release, the CEO of SBI Holdings, and Ripple-member of the Board Yoshitaka Kitao says that in the future, new transfer services using crypto-Assets will be launched. But he does not indicate whether the new remittance corridor between Japan and Vietnam will include the use of the Digital Asset XRP.
The booming Vietnamese economy is one of the most attractive markets in the world. The TPBank, in which the SBI has invested in the group in 2009, and he holds a share of 19.9%, achieved through the active use of cutting-edge technologies is a continuous accumulation of loans and noninterest income, such as settlement services.
The introduction of RippleNet will distinguish the company from its competitors. We will also develop transfer services, which include, in the future, crypto-Assets.
The number of Vietnamese in Japan has quadrupled in the last five years, according to The Japan Times to around 330.835. CEO of Tien Phong Bank, Nguyen Hung, also (freely translated):
Our collaboration with SBI Ripple Asia in the application of the Blockchain technology in a cross-border payment traffic represents an important turning point, in order to improve our customer experience and to make international money Transfers via TPBank faster, more convenient, and safer than ever before.
Ripple was the last to deliver great news on the Swell conference. The partner network RippleNet now counts 300 cooperation partners of the payment software of Ripple. Furthermore, one of the largest payment service providers in the world, MoneyGram is expanding the use of ODL to continue on about 4 new Zahlungskorrdidore. Among other things, the remittances are to be targetted to Mexico, so that people can send the work abroad of money easier, and faster to their families.
CEO of Ripple, Brad Garlinghouse, has announced that the transaction volume of XRP exceeded in Oktokber this year, the volume of the entire last year. The use of XRP has risen, therefore, start. However, garlinghouse announced that his company wants to apply ODL to the adaptation of XRP in the best possible way forward. The price of XRP showed during the big announcements, no response and tends to be analogous to the current market trend, more downward.
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