The post XRP News : Ripple’s Strategic Partnership with SBI to Boost XRP Ledger appeared first on Coinpedia Fintech News
In recent news, Ripple has announced a strategic partnership with SBI Digital Community Co., a subsidiary of Japan’s financial giant SBI Holdings, to enhance the adoption of the XRP Ledger and facilitate the issuance of non-fungible tokens (NFTs) on this blockchain. This collaboration aims to increase the use of the XRP Ledger, which is known for its fast, low-cost, and sustainable cross-border payment capabilities.
XRP Ledger Promotion and NFT Issuance
The partnership’s primary focus is to promote the XRP Ledger within the web3 community. SBI Digital Community Co. plans to use its Bto3 Web3 platform to introduce more individual users to the XRP Ledger, thereby popularizing its use. The initiative also includes issuing NFTs on the XRP Ledger and utilizing platforms like Xrp.cafe for NFT distribution, buying, and selling. Creators and contributors within the community will receive XRP rewards as part of this initiative.
SBI Holdings’ Continued Support for Ripple and XRP
SBI Holdings has been a long-standing partner of Ripple and continues to expand its involvement in the crypto space. The company is actively working on various projects, including supply chain solutions, new remittance corridors, and mobile payment applications, all of which leverage Ripple’s technology. Plus, SBI has plans to showcase Ripple and XRP at the 2025 World Expo, further solidifying its commitment to the partnership.
Recently, SBI announced its intentions to enter the Bitcoin ETF market in collaboration with Franklin Templeton, although Japan’s top financial regulator remains cautious about approving Bitcoin ETFs.
Market Reaction
The partnership news has positively impacted XRP’s market performance, with the price increasing by 1% in the past 24 hours and 14% over the week. Currently trading at $0.57, XRP saw a 24-hour trading range between $0.560 and $0.578. However, the trading volume has decreased by 21% in the last 24 hours, suggesting a slight decline in trader interest.
This strategic collaboration between Ripple and SBI Digital Community Co. represents a significant step forward in expanding the use of the XRP Ledger and NFTs, further cementing XRP’s role in the growing digital economy.