ā XRP Developments in Japan
ā¢ In 2016, Ripple partnered with SBI Holdings to form SBI Ripple Asia, a joint venture to promote Rippleās enterprise payment solutions across Asia, including Japan.
ā¢ SBI Holdings also participated in Rippleās $55 million Series B funding round, alongside other global banks.
ā¢ Mizuho Financial Group joined Rippleās network around the same time, expanding adoption in Japan.
ā¢ In 2017, SBI Ripple Asia launched the Japan Bank Consortium, bringing together 61 Japanese banks, representing more than 80% of domestic banking assets. Pilot programs using Rippleās RC Cloud platform enabled real-time settlements for participating banks.
ā¢ In 2018, VCTRADE, Japanās first bank-backed crypto exchange, was launched by SBI with XRP as the initial focus.
ā¢ By 2021, SBI Remit rolled out Japanās first XRP-powered international remittance service, leveraging Rippleās On-Demand Liquidity (ODL) for faster and cheaper cross-border transfers, e.g., Japan ā Philippines.
š¦ Japanās Banking Scale
ā¢ Japan has three major megabanks (Mitsubishi UFJ, Sumitomo Mitsui, Mizuho) alongside regional banks and shinkin cooperatives.
ā¢ Total assets of domestically licensed banks were roughly 1,447 trillion yen (~$9.65 trillion) as of November 2024.
ā¢ Total deposits across financial institutions reached $6.98ā7.05 trillion) by late 2025.
ā¢ Japan has ~100 city/regional banks, ~250 shinkin banks, and ~13,500 domestic branches, collectively controlling close to 10% of global banking assets.
š Key Takeaways
ā¢ XRP already has deep ties to Japanese financial institutions through SBI, Mizuho, and the Japan Bank Consortium.
ā¢ These partnerships focus on enterprise payment solutions, real-time settlements, and cross-border remittances, rather than price speculation.
ā¢ Japanās large banking sector represents a potential long-term use case for XRP as a bridge currency in payments and liquidity solutions.
#CryptoAdoption #CrossBorderPayments #SBI #Mizuho #CryptoNewss $XRP
