Japan’s SBI Group, has announced it is creating a new company in partnership with digital ledger technology (DLT) startup Ripple in order to take advantage of the growing proliferation of non-cash payments in Asia
Financial settlements solutions provider Ripple has signed a deal with $2 billion financial services giant SBI Holdings as the global fintech aggressively pushes to expand its influence across Asia Pacific. Financial settlements solutions provider Ripple has signed a deal with $2 billion financial services giant SBI Holdings as the global fintech aggressively pushes to expand its influence across Asia Pacific. The partnership sees the formation of a new company called SBI Ripple Asia that will serve banks throughout Asia Pacific by providing them with enterprise solutions for cross-border payments. The move comes in response to the growing proliferation of non-cash payments in Asia, with Japan, China and South Korea alone reaching a total volume of over $45 billion in non-cash payments in 2013, according to the 2015 World Payments Report from the Royal Bank of Scotland and Capgemini.
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