SBI Holdings launched the beta version of their new crypto currency exchange on January 30 2018. XRP will be the only crypto asset available for exchange with Japanese yen (JPY).
XRP (Ripple) to be main asset in new crypto exchange
According to Yoshitaka Kitao, CEO at SBI Holdings, XRP is the ideal candidate for its scalability, speed and low fees compared to any other crypto. (Ripple, 2017)
SBI Holdings is one of Japan’s leading financial services companies in Japan. SBI Holdings invested in Ripple aggressively in January 2016 and launched their new partnership SBI Ripple Asia in May. This quickly grew to become a consortium consisting of more than 60 banks, among them the best in Japan. These banks will use Ripple’s services for national and cross border payments.
Patrick Griffin, senior vice president of Business Development at Ripple, had this to say about SBI Holdings launching a new exchange where XRP is the main actor:
“Today’s decision to make XRP the primary digital asset of SBI Virtual Currencies shows the utility, efficiency, and scalability respected financial institutions around the world see in XRP. This is a critical step forward in our mission to build XRP liquidity and build an Internet of Value”.
Ripple (2018). SBI Virtual Currencies to Exclusively List XRP at Launch. Link
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