29 September 2016
Business Intelligence: A Tech Revolution for the Evolution in Compliance

Ripple to create Asian joint venture with SBI Holdings

29 January 2016  |  5676 views  |  0 globe

Ripple is to create a joint venture company with Japanese financial conglomerate SBI Holdings to drive the adoption of its distributed ledger technology for cross-border payments across Asian markets.

The new company - SBI Ripple Asia - will build an engineering and sales force across Japan, China, Taiwan, Korea, and Asean countries to sell and install Ripple’s technology stack for cross-border payments at banks across the region. Ripple will continue to operate Ripple APAC to service Australia, Singapore and other high-demand growth markets in the region.

“Surveying the market, Ripple was the only company that has delivered battle-tested enterprise solutions and global bank customer traction, including commercial deals with top banks already signed in Asia Pacific,” says president and CEO of SBI Holdings Yoshitaka Kitao. “Distributed financial technology is undoubtedly transforming financial infrastructure and we’re excited to drive its adoption throughout Asia.”

SBI Holdings has a long track record of success building joint ventures with international financial services brands, including E-Loan, E*Trade, MorningStar, and Sumitomo Mitsui Trust Bank. The company also holds stakes in 10 financial institutions across Asean, providing a ready-made distribution network for Ripple Connect, the firm's enterprise-grade settlement package.

Ripple co-founder and CEO Chris Larsen, says: “SBI’s deep expertise and relationships across banking, capital markets, insurance and payments will help aggressively scale Ripple in some of the fastest-growing financial markets in the world.”

SBI Holdings and Ripple have also agreed to explore working together to list XRP, Ripple’s native digital currency, through its online brokerage properties, including the largest online trading platform in Japan.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Earthport creates single API for access to distributed ledgers

Earthport creates single API for access to distributed ledgers

12 January 2016  |  6696 views  |  1 comments | 19 tweets | 15 linkedin
Microsoft blockchain-as-a-service embraces Ripple

Microsoft blockchain-as-a-service embraces Ripple

08 December 2015  |  15117 views  |  0 comments | 58 tweets | 38 linkedin
Santander InnoVentures joins Ripple funding round

Santander InnoVentures joins Ripple funding round

06 October 2015  |  7647 views  |  1 comments | 31 tweets | 19 linkedin
Earthport opens gateway to distributed ledgers with Ripple

Earthport opens gateway to distributed ledgers with Ripple

18 August 2015  |  11073 views  |  0 comments | 26 tweets | 20 linkedin
Ripple Labs names former DTCC boss Donahue as an advisor

Ripple Labs names former DTCC boss Donahue as an advisor

01 June 2015  |  5698 views  |  0 comments | 8 tweets | 3 linkedin
CBA to test Ripple for intra-bank transfers

CBA to test Ripple for intra-bank transfers

27 May 2015  |  13591 views  |  2 comments | 27 tweets | 22 linkedin
Ripple scores $28 million funding round

Ripple scores $28 million funding round

19 May 2015  |  7907 views  |  0 comments | 17 tweets | 17 linkedin
Ripple signs first two US banks

Ripple signs first two US banks

24 September 2014  |  12793 views  |  5 comments | 18 tweets | 10 linkedin
Fidor to use Ripple to speed money transfers

Fidor to use Ripple to speed money transfers

06 May 2014  |  8550 views  |  0 comments | 7 tweets | 7 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit equens.comFind out more

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
14443 views comments | 55 tweets | 48 linkedin
Ripple rudely gatecrashes Sibos partyRipple rudely gatecrashes Sibos party
9407 views comments | 30 tweets | 29 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
9115 views comments | 33 tweets | 18 linkedin
BNP Paribas is working with clients on blockchain deploymentBNP Paribas is working with clients on blo...
7428 views comments | 14 tweets | 30 linkedin
US gets same day ACHUS gets same day ACH
7000 views comments | 23 tweets | 19 linkedin

Featured job

Find your next job