Amid the growing adoption of XRP for cross-border payment services across multiple nations, SBI Ripple Asia, in collaboration with South Korean blockchain infrastructure provider DSRV Labs, has made the leading cryptocurrency a target for blockchain-based services in the Asian region.
On Tuesday, Feb. 24, the SBI Ripple Asia team launched a joint research initiative with DSRV Labs to explore how blockchain technology can enhance remittance and payment flows between Japan and South Korea.
XRP in spotlight as SBI Ripple partners with DSRV
SBI Ripple emphasized that the collaboration focuses on studying how blockchain-based financial services can be connected to the existing remittance and settlement sector in both countries.
While they are yet to officially deploy the infrastructure, the initiative will allow them to examine regulatory alignment, operational design, system compatibility and technical integration requirements in two of Asia’s most important financial markets, which include the Japanese and Korean markets.
The research will be jointly conducted by SBI Ripple Asia and DSRV Labs aims to clarify how blockchain solutions could operate within these regulatory environments while maintaining compliance and stable performance.
XRP Ledger use cases in view
During the research, SBI Ripple revealed that it will also examine the potential use of the XRP Ledger for cross-border payment and settlement use cases.
While XRPL has already been implemented by financial institutions globally, it is being considered as a possible infrastructure layer for future remittance corridors between the two countries.
Dan Burgin
Vladislav Sopov