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Japanese Financial Giant Starts Running XRP Ledger Validator

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Fri, 10/05/2024 - 6:07
Japanese Financial Giant Starts Running XRP Ledger Validator
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SBI VC Trade, the cryptocurrency exchange of Japanese financial giant SBI Holdings, has announced the launch of their validator on the XRP Ledger.

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With its recent move, SBI aims to reflect the voices of its customers who hold the XRP cryptocurrency, according to the company’s announcement. 

Vet, operator of the XRP Ledger dUNL, has stressed that this is a “huge step” since a large enterprise is now running infrastructure for the XRP Ledger. 

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Ripple initially partnered with SBI back in 2017. 

It has also offered year-end benefits for shareholders in the XRP cryptocurrency.

In 2023, SBI Remit, a subsidiary of SBI Holdings, expanded its XRP-powered services to several countries, including Vietnam and the Philippines. 

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Ripple CEO Brad Garlinghouse has repeatedly touted Japan as one of the most cryptocurrency-friendly jurisdictions. In 2020, he even suggested that Ripple’s headquarters could be relocated to Tokyo before the SEC took the company to court. 

In April, Ripple expanded its presence in Japan by announcing a tie-up with Tokyo-based HashKey DX. The aim of the collaboration is to use the XRP Ledger for developing enterprise solutions for customers in Japan.
 

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