SBI Remit Co., Ltd., a key player in the international money transfer service sector under the SBI Group umbrella, has announced a significant expansion in its partnership with Ripple and SBI Ripple Asia. This collaboration will see the introduction of international remittance services using the cryptocurrency XRP as bridge currency to bank accounts in the Philippines, Vietnam, and Indonesia.
“SBI Remit has been using Ripple Payments provided by Ripple for its international remittance services since 2017,” the official press release stated. “By introducing a solution using crypto assets in Ripple Payments, we became the first in Japan to provide an international remittance service that utilizes the crypto asset XRP as a bridge currency between two legal currencies.”
SBI Expands Partnership With Ripple
This move is not the first foray of SBI Remit into the world of XRP-based remittances. In 2021, the company launched a…
