SBI Ripple Asia’s New Payment Corridor Won’t Use XRP

A lot of news has come out of Ripple and its partners lately. SBI Ripple Asia is preparing to launch a money transfer service between Japan and Vietnam.

In the announcement, it’s mentioned how this new payment corridor will make use of distributed ledger technology.

Another Step Forward for Ripple

Unlike what some people may have expected, this does not include the use of XRP or Ripple’s On-Demand Liquidity at this time

SBI Ripple Asia will first evaluate the viability of DLT using this payment corridor. If successful, they may implement ODL and XRP at a later stage, albeit no official commitment has been made at this time.

By combining DLT and real currency, the payment corridor should note much faster and potentially cheaper transactions for both the sender and recipient.

SBI Remit, the company working with SBI Ripple Asia, is a partner of MoneyGram International Inc.

Moreover, they also have close ties to many Asian financial institutions, including partner bank Tien Phong Commercial Joint Stock Bank in Vietnam. Read More...

SBI Ripple Asia has said it might use XRP in the future but will not commit to using it


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