As a seasoned researcher with a keen eye for blockchain and cryptocurrency trends, I find this partnership between Ripple and SBI Holdings to be a significant step towards the mainstream adoption of XRP. Having closely followed the developments in the crypto space over the past few years, it’s clear that strategic collaborations like these can have a profound impact on the ecosystem.
On Tuesday, Ripple, a company specializing in crypto payments, and SBI Holdings’ subsidiary announced a strategic partnership. This collaboration aims to enhance the utilization of the XRP Ledger and launch non-fungible tokens (NFTs) on this blockchain. This move is expected to stimulate the acceptance of XRP within the community, further promoting its adoption.
SBI and Ripple Expand Partnership for XRP Adoption
On August 13, it was disclosed by SBI Digital Community Company, an affiliate of SBI Holdings, their intentions to foster adoption of the XRP Ledger within the web3 community. This decision follows a strategic alliance with Ripple Labs.
The XRP Ledger represents a publicly accessible blockchain platform that facilitates swift, affordable, and eco-friendly international transactions like Ripple Payments. In addition, Ripple actively participates in the open-source advancement of this blockchain technology.
As a researcher involved in this collaboration, I’m excited to share that we aim to expand the accessibility of the XRP Ledger for individual users. This will be achieved through our alliance with the Bto3 Web3 community, which is operated by SBI Digital Community. Our goal is to promote and popularize the XRP Ledger by fostering a wider user base.
As a long-time crypto enthusiast with a deep understanding of blockchain technology, I am thrilled about the upcoming move by the web3 community to issue non-fungible tokens (NFTs) on the XRP Ledger. Having been involved in this space for quite some time, I have witnessed the transformative power of decentralized technologies and their potential to revolutionize various industries.
SBI Holdings Support to XRP
Ripple’s associate, SBI, is consistently broadening its involvement in the crypto sector, focusing on areas such as supply chain, new remittance routes, and mobile payment apps. Moreover, the company aims to highlight Ripple and XRP at the 2025 World Expo.
Furthermore, State Bank of India (SBI) has revealed intentions to form a partnership with Franklin Templeton for setting up an investment management firm, aiming to participate in the Bitcoin Exchange-Traded Fund (ETF) market. Yet, the Japanese Financial Services Agency continues to exhibit a reserved stance regarding the approval of Bitcoin ETFs.
1) In the previous day, XRP‘s price rose 1%, while it climbed an impressive 14% over the past week. At this moment, its value stands at approximately $0.57. Throughout the last 24 hours, the lowest and highest points were $0.560 and $0.578 respectively. Additionally, there’s been a drop of 21% in trading volume over the same period, which suggests that trader interest might be dwindling.
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2024-08-13 19:10