Ripple update: Ripple DLT extremely superior in terms of cost-effectiveness, speed and economy. The use of customers has increased remarkably – SBI
SBI Limit Co., Ltd. September 5, 2018
(Head office: Minato-ku, Tokyo, Representative Director: Nobuo Ando, https://www.remit.co.jp) , a subsidiary of SBI FinTech Solutions Co., Ltd., a comprehensive FinTech solution company, , Hereinafter “our company”) announced that cumulative remittance handling overseas (converted to yen) exceeded 500 billion yen.
As a mission to provide SBI Group’s financial services to residents of foreign residents who are expected to increase in the future due to the global trend of globalization, we opened in late December 2010. Currently, the number of foreigners residing in Japan has reached a record high of 2.66 million, but since the government has announced its policy to expand acceptance of foreign workers, it will be more than ever before We expect an increase in foreigners staying. As a result of the increased need for foreign remittances by foreign nationals living in Japan like this, remittance amount of our company has increased greatly. About 450,000 registered members in our service, 90% of which are foreign nationals living in Japan. As reflected in the country of origin of the people entering the country, most of our remittances are mainly from Asian countries, and in addition to the traditional Philippines, China, Vietnam and Nepal, recently Indonesia, Cambodia, Myanmar, Thailand Remittances are increasing.
**Remittance using Ripple’s distributed ledger technology, which began with The Siam Commercial Bank Public Company Limited, a major commercial bank in Thailand in June 2017, is extremely superior in terms of cost-effective speed and economy. The use of customers has increased remarkably. In the future, we plan to further expand the remittance channel using Ripple’s platform.**
We will continue to develop remittance service with high convenience that can respond to various needs of customers by actively incorporating new financial technology.
History:
July 2015 · Cumulative remittance exceeded 100 billion yen
Sept 2016 Cumulative remittance exceeded 200 billion yen
July 2017 Cumulative remittance exceeded 300 billion yen
February 2018 Cumulative remittance exceeded 400 billion yen
August 2018 Cumulative remittance amount exceeded 500 billion yen
http://www.sbigroup.co.jp/news/2018/0905_11244.html
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: DoubleEko
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