Things are constantly evolving in the world of Ripple and XRP. Especially their Asian partners are quite pleased with some of the more recent developments. In SBI Holdings’ financial report, the bank notes how XRP usage reduces costs by 60%. This applies to international remittance conducted by SBI Holdings and others banks alike. An interesting future lies ahead in this regard, assuming more institutions want to give Ripple’s asset a try.
There are many valid reasons to pay attention to XRP these days. While not a traditional cryptocurrency, Ripple’s native asset is quite valuable. Banks all over the world can cut down on overhead costs by quite a margin. According to SBI Holdings, remittance fees can be cut down by around 60%. At the same time, the banks get near real-time settlement without any friction. There is no reason not to explore this option further.
SBI Holdings has High Hopes for XRP
It is good to see SBI Holdings remain positive about XRP. While the value of this asset is being manipulated on exchanges, banks see the bigger picture. There are a few dozen banks readily exploring this technology and digital asset as we speak. It is evident this currency is designed to revolutionize the banking system as a whole. Not an easy feat by any means, but it is certainly doable with digital assets.
Whether or not this positive attitude will reflect on the XRP value, remains to be seen. SBI Holdings aren’t planning to stop using this asset anytime soon. It is evident Ripple still needs to convince a lot of other banks moving forward. After all, XRP won’t become the native digital asset of the banking world overnight. So far, things are progressing nicely. However, there is still plenty of work to be done, to say the very least.
Completing transactions with XRP simply makes sense. It opens up new payment gateways on a global scale. This can be achieved even without previous agreements between different institutions. There is no reason to ignore this asset any longer. It is not like Bitcoin in any way, which is a rather positive thing in this specific industry. Good things are happening to Ripple and its native asset. The tide is slowly turning in favor of this blockchain company. SBI Holdings is just one of their many partners.
Header image courtesy of Shutterstock
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
