Ripple deploys in Asian market, joins hands with Japan's SBI Holdings Co., Ltd.

Yesterday, Ripple announced a cooperation agreement with Japan's SBI Holdings. SBI Holdings, formerly known as SoftBank Investment Group, referred to as "SBI Group", is a world-renowned comprehensive Internet financial group.

The entire Ripple team is very excited about this. Below is the announcement released by Ripple.

Ripple has been gaining a lot of attention in Asia. We are based in San Francisco, but we have official representatives in New York and London, and are rapidly expanding to Sydney. This is a real challenge for Ripple. Although we have reached a new agreement with SBI Holdings, there is still a long way to go.

SBI is a mainstream financial group in Japan, with total assets of 28 billion, more than 5,000 employees and offices in 20 countries. But for us, what is more important is SBI's regional influence.

As part of the cooperation agreement, we will establish SBI Ripple Asia, a new joint venture that will serve not only Japan, but also mainland China, Taiwan, South Korea and other ASEAN countries. Ripple APAC, headquartered in Sydney, will continue to serve Australia, Singapore and India.

As we have reported in the past, the ASEAN region could surpass Europe’s economic output in less than a decade.

In ASEAN alone, SBI holds stakes in 10 financial institutions. The idea is to actually run our entire distributed network, Ripple Connect, Ripple’s enterprise-grade solution.

SBI Ripple Asia will build its own engineering and marketing teams to meet enterprise integration needs for Ripple and growing regional demand.

As Asia becomes increasingly important on the world economic development stage, the opportunities for Ripple are enormous.

Yoshitaka Kitao, CEO of SBI, said:

“Looking at the entire market, Ripple is a proven enterprise-level solution and has already gained the support of a number of banks, including having signed commercial partnerships with top banks in the Asia-Pacific region. Distributed financial technology undoubtedly has the potential to change financial infrastructure, and we are very happy to join in and promote the popularization of this technology throughout the Asian market.”

In addition, as part of the cooperation agreement, Ripple will also discuss with SBI how to list XPR on SBI's various online securities platforms.

Original article: https://ripple.com/insights/ripples-deal-with-japanese-multinational-opens-door-for-rapid-asian-expansion/
Author: Alec Liu
Translator: printemps
Editor: printemps
Source (translation): 8btc Information (http://www.8btc.com/ripple-sbi)