SBI Group’s Cross-Border e-Commerce Platform Enables XRP Payments

Japan’s SBI Group has made another move to bring XRP to the mainstream as SBI Africa’s cross-border e-commerce platform, SBI Motor Japan, has started to accept payments in cryptocurrencies.

Announced on Monday, the e-commerce platform in Japan is accepting payments in two crypto assets, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and XRP. Additionally, it is the first such platform in the country to accept XRP as payment.

SBI is a major Japanese conglomerate. The mentioned cross-border e-commerce platform provides information on used automobiles to emerging countries around the world and facilitates the export of around 5,000 vehicles annually.

The primary target markets of the platform are Tanzania, Kenya, Zambia and other African countries, Ireland, the Cayman Islands, the Bahamas and the Caribbean.

“Crypto asset remittances use the blockchain (distributed ledger), so even if the banking system stops functioning, as long as the Internet is operational, remittances can continue to be used without being affected by the failure of an exchange, etc,” the announcement stated.

“This is also highly regarded, and is spreading as an alternative to traditional remittance methods. In anticipation of the growing demand for remittances using crypto assets, we plan to increase the number of currencies that can be used for settlement in the future.”

Moreover, the platform confirmed that it will use the services of SBI VCTrade to settle the crypto assets. In addition, it will ensure anti-money laundering and anti-terrorist financing measures as well as conduct appropriate screening and monitoring of all involved parties.

Promoting XRP

SBI is one of the key partners of Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term. The two companies are running a joint venture to promote the use of XRP in Asia. Furthermore, the SBI Group is incentivizing its shareholders with free XRP rewards.

Meanwhile, XRP is trading at $0.56 a piece as of press time, according to Coinmarketcap.com, which is more than 83 percent lower than the peak value of the crypto achieved in January 2018.