• Ripple partner SBI Holdings is working with R3 to develop the Corda blockchain, specializing in B2B transactions.
• Ripple and SBI Holdings have been operating together under the joint venture of SBI Ripple Asia, and building the “Internet of Value”.
• R3’s Corda blockchain platform prioritizes privacy, security, and interoperability for financial institutions.
Ripple and SBI Holdings Forge the Future
Ripple partner SBI Holdings is working with US-based financial technology company R3 and leading the development of the Corda blockchain, specializing in business-to-business (B2B) transactions. The two players are operating together under the joint venture of SBI Ripple Asia, and building the “Internet of Value” by merging their technology and expertise.
The Partnership between Ripple & SBI
The partnership between Ripple and Japanese financial giant SBI Holdings dates back to July 2021 when they launched RippleNet’s first live On-Demand Liquidity (ODL) service in Japan. The two companies have been leveraging Ripple’s blockchain solution – RippleNet – which uses distributed ledger technology (DLT). This allows participants to communicate securely with each other for instant cross-border payments using XRP ODL services.
R3’s Corda Blockchain Platform
US-based financial technology company R3 has taken the lead in developing a modular blockchain platform called Corda which is specifically designed for financial institutions. It offers flexibility to customize according to specific requirements while prioritizing privacy, security, and interoperability among its users. A number of financial institutions are currently conducting trials on this platform with some already having used it commercially.
The ‚Internet of Value‘
Through their collaboration with R3 and use of technologies like DLT as well as XRP ODL services, both Ripple and SBI are aiming to create an interconnected global network that facilitates instantaneous value transfer across borders dubbed as ‚the Internet of Value‘.
Will This Drive XRP?
It remains unclear how much this joint effort may impact XRP or ripple’s other products but it certainly shows that both companies are actively pushing forward their plans towards digitalization in Japan as well as throughout Asia.