Ripple joins forces with Japanese bank card issuers

This news has great influence on Ripple price; XRP gained almost 12% in last 24h
27 December 2017   9816

SBI Ripple Asia, a joint venture of the Japanese financial conglomerate SBI Holdings and the Californian startup Ripple, is forming an association whose participants intend to use blockchain technology to create a single transaction register made using bank cards. This is reported by the Nikkei.

The new association will begin operating activities in January next year. It is expected that by this time about 10 issuers of bank cards will enter it, including JCB, Sumitomo Mitsui Card and Credit Saison.

The project participants count on the fact that distributed ledger technology can help reduce costs and improve the efficiency of business processes in the banking card industry as a whole. In addition, the block will be used to identify customers, combat illegal transactions, issue their own virtual currencies, etc.

This news had great impact on the Ripple price. XRP gained almost 12% in last 24h.

XRP Price Chart
XRP Price Chart

At the moment of press, these are the main Ripple market parameters:

  • Average price $1,26 
  • Market Cap $48 802 799 895
  • 24h Trading Volume $1 566 100 000

The most of the XRP is being traded at:

  1. Bithumb 32.43%
  2. Binance 8.69%
  3. Poloniex 7.82%

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   561

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.