SBI Holdings, Ripple's largest partner in Japan, has announced a game-changing partnership with Solana Foundation. SBI's R3 Corda, the world's biggest platform of permissioned corporate chains, will accelerate TradFi, institution and RWA onboarding to Solana (SOL) blockchain.
End of crypto tribalism? SBI Holdings teams up with Solana
Japanese fintech heavyweight SBI Holdings announced that its private blockchain platform R3 Corda entered into a partnership with Solana Foundation. The collaboration will bring together R3 Corda's permissioned network experience and the opportunities of Solana's high-performance mainnet.
The partners will coordinate their efforts on building the first enterprise-grade, permissioned consensus service offered to the public directly on a major L1.
Technically, the integration means private transactions on Corda can be validate directly on Solana mainnet. This is a landmark achievement for the $10 billion ecosystem of Corda that is already leveraged by a number of TradFi majors, including HSBC and Bank of America.
A seasoned Ripple and XRP community enthusiast who goes by @sentosumosaba on X highlights the very specific nature of this collaboration:
I don't think the XRP community was well served by those KOLs who bad-talked Solana for years.
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Also, Lily Liu, President of the Solana Foundation, assumes a position on R3 Corda's Board of Directors as the partnership kicks off.
Partnership focuses on institutions, RWAs
Largely, the collaboration will be focused on offering Solana (SOL) as a security and validation layer for permissioned blockchains operate by institutions: banks, fintechs, payment processors and so on.
Besides that, joint infrastructure by Solana and Corda will be leveraged by the issuers of tokenized real-world assets (RWAs).
As covered by U.Today previously, SBI Group recently kickstarted a program of lending applications for XRP, Bitcoin (BTC), Shiba Inu (SHIB) and other major cryptocurrencies.
SBI Group's strategy is of paramount importance for Ripple: XRP still remains the second most popular asset for Japanese investors, significantly outperforming Ethereum (ETH).
Dan Burgin
Vladislav Sopov
