⭐️ Today's idea we'll dive in quick on a new development in XRP's path to success and global utility as Japanese Giant SBI has announced a rather significant expansion on it's partnership with Ripple and SBI Ripple Asia.
⭐️ SBI is SBI Japan or otherwise referred to as SBI Holdings, Strategic Business Innovator Group. It's a financial services company group which is based in tokyo, Japan and serves as a primary holding company for various businesses and subsidiaries with current assets under management at about $165.5 Billion. It's kind alike a conglomerate being that it's a multi-industry company though the various companies operate under one corporate group umbrella at the end of the day.
⭐️ Anyway SBI which is already a major player in the international money transfer service sector announced an 'expansion' of it's partnership alongside Ripple and SBI Ripple Asia which will see the introduction of international remittance services for the Philippines, Vietnam, and Indonesia which will be able to utilize the crypto XRP as a bridge currency to bank accounts in those countries.
⭐️ Here's a quote below from SBI: “SBI Remit has been using Ripple Payments provided by Ripple for its international remittance services since 2017,” the official press release stated. “By introducing a solution using crypto assets in Ripple Payments, we became the first in Japan to provide an international remittance service that utilizes the crypto asset XRP as a bridge currency between two legal currencies.”
⭐️ I mean wow even in 2017 Ripple was making waves and has been in use for real payments and transactions. Just goes to show how low key but effectively ripple has continued to grow and expand their footprint in the global system slow incorporating themselves more and more with every new development and partnership.
⭐️ And as the article reveals in one explanation, here's the scheme; "The newly unveiled scheme is designed to streamline the international remittance process. “In the scheme constructed this time, SBI Remit sends a customer’s remittance request, and SBI VC Trade sends XRP in real time in response to the request,” the official press release detailed. This dynamic approach is made possible through a strategic alliance with Tranglo Pte. Ltd., a long-term RIpple partner, ensuring that customers receive remittances in their local legal currency."
⭐️ “By using XRP as a bridge currency, you can send money quickly and at low cost,” SBI emphasized in their statement. “Furthermore, it has excellent scalability, allowing users to easily send money to Ripple’s partners around the world, and we believe this will lead to stronger competitiveness in the international remittance business.”
⭐️ It's then explanted that the main reason for targeting these countries was thanks to their significant role and share of remittances directed to bank accounts which made the countries prime choices for XRP adoption which would help make remittances quicker as well as help introduce crypto and accelerate it's adoption in these nations and countries which is great.
⭐️ I'm leaving the idea here and I'll link the link to the article below as well as a link to the announcement from the official SBI page though it is in Japanese so the article may be better to refer to but nonetheless this is great news. Just goes to show that XRP continues to make waves even if we may not notice it. Bit by bit they are working on something big and one day it's all going to come to light, but till then, they continue building.
⭐️I have to go but technical wise we've still managed to hold above 0.50 even after falling back down once again following yesterday's rise so I'm happy with that but definitely looks like we're having quite a battle here on whether or not we will regain that 200 EMA. I'm still keeping my alert for 0.50 and 0.496 but one way or another, price action means nothing to Ripple as they continue expanding. We're over here stressing and going all technical on a couple cents but ultimately, what matters is the utility, not the chart.
⭐️Sure the chart does help and do a lot but ultimately when the time happens and it will, then people will start looking at crypto with real use cases and utility and I have yet to see another crypto forming as many developments and partnerships as Ripple has. They've been in this game since 2012 and alone have over 1,032 employees. That's nothing to scoff at and I can't even imagine the things that are happening behind the scenes. I haven't done this in a while but I'm giving this idea a bullish. I don't like to set bearish or bullish strategies but at the end of the day, XRP's got a bright future. And nobody can deny that.
⭐️ May go do some overtime today and work on other things so I'll have to go now, but I appreciate you guys joining me as always, I enjoy writing up these ideas for you guys and I hope you enjoy reading them too, if you'd like to leave a like or follow it'd really help me out, I simply do my best, and I hope you will too for yourselves as always. Take care.
~ Rock '
links:
https://www.sbigroup.co.jp/news/2023/0906_14052.html
https://bitcoinist.com/japanese-financial-giant-ripple-xrp-service/
⭐️ SBI is SBI Japan or otherwise referred to as SBI Holdings, Strategic Business Innovator Group. It's a financial services company group which is based in tokyo, Japan and serves as a primary holding company for various businesses and subsidiaries with current assets under management at about $165.5 Billion. It's kind alike a conglomerate being that it's a multi-industry company though the various companies operate under one corporate group umbrella at the end of the day.
⭐️ Anyway SBI which is already a major player in the international money transfer service sector announced an 'expansion' of it's partnership alongside Ripple and SBI Ripple Asia which will see the introduction of international remittance services for the Philippines, Vietnam, and Indonesia which will be able to utilize the crypto XRP as a bridge currency to bank accounts in those countries.
⭐️ Here's a quote below from SBI: “SBI Remit has been using Ripple Payments provided by Ripple for its international remittance services since 2017,” the official press release stated. “By introducing a solution using crypto assets in Ripple Payments, we became the first in Japan to provide an international remittance service that utilizes the crypto asset XRP as a bridge currency between two legal currencies.”
⭐️ I mean wow even in 2017 Ripple was making waves and has been in use for real payments and transactions. Just goes to show how low key but effectively ripple has continued to grow and expand their footprint in the global system slow incorporating themselves more and more with every new development and partnership.
⭐️ And as the article reveals in one explanation, here's the scheme; "The newly unveiled scheme is designed to streamline the international remittance process. “In the scheme constructed this time, SBI Remit sends a customer’s remittance request, and SBI VC Trade sends XRP in real time in response to the request,” the official press release detailed. This dynamic approach is made possible through a strategic alliance with Tranglo Pte. Ltd., a long-term RIpple partner, ensuring that customers receive remittances in their local legal currency."
⭐️ “By using XRP as a bridge currency, you can send money quickly and at low cost,” SBI emphasized in their statement. “Furthermore, it has excellent scalability, allowing users to easily send money to Ripple’s partners around the world, and we believe this will lead to stronger competitiveness in the international remittance business.”
⭐️ It's then explanted that the main reason for targeting these countries was thanks to their significant role and share of remittances directed to bank accounts which made the countries prime choices for XRP adoption which would help make remittances quicker as well as help introduce crypto and accelerate it's adoption in these nations and countries which is great.
⭐️ I'm leaving the idea here and I'll link the link to the article below as well as a link to the announcement from the official SBI page though it is in Japanese so the article may be better to refer to but nonetheless this is great news. Just goes to show that XRP continues to make waves even if we may not notice it. Bit by bit they are working on something big and one day it's all going to come to light, but till then, they continue building.
⭐️I have to go but technical wise we've still managed to hold above 0.50 even after falling back down once again following yesterday's rise so I'm happy with that but definitely looks like we're having quite a battle here on whether or not we will regain that 200 EMA. I'm still keeping my alert for 0.50 and 0.496 but one way or another, price action means nothing to Ripple as they continue expanding. We're over here stressing and going all technical on a couple cents but ultimately, what matters is the utility, not the chart.
⭐️Sure the chart does help and do a lot but ultimately when the time happens and it will, then people will start looking at crypto with real use cases and utility and I have yet to see another crypto forming as many developments and partnerships as Ripple has. They've been in this game since 2012 and alone have over 1,032 employees. That's nothing to scoff at and I can't even imagine the things that are happening behind the scenes. I haven't done this in a while but I'm giving this idea a bullish. I don't like to set bearish or bullish strategies but at the end of the day, XRP's got a bright future. And nobody can deny that.
⭐️ May go do some overtime today and work on other things so I'll have to go now, but I appreciate you guys joining me as always, I enjoy writing up these ideas for you guys and I hope you enjoy reading them too, if you'd like to leave a like or follow it'd really help me out, I simply do my best, and I hope you will too for yourselves as always. Take care.
~ Rock '
links:
https://www.sbigroup.co.jp/news/2023/0906_14052.html
https://bitcoinist.com/japanese-financial-giant-ripple-xrp-service/
