Ripple previously partnered with SBI Remit – SBI Remit is the largest money transfer provider in Japan.
The goal of the partnership is to transform remittance payments from Japan to the Philippines. The mobile payments service Coins.ph and the exchange SBI VC Trade will be involved in this partnership. They will use Ripple’s On-Demand liquidity solution. This solution enables faster, and more affordable remittance options for customers.
Nobuo Ando, Representative Director of SBI Remit stated:
“We see tremendous potential in leveraging blockchain technology to transform not only the way payment transactions are made but in how we manage our business by unlocking trapped capital. The launch of ODL in Japan is just the start, and we look forward to continuing to push into the next frontier of financial innovation, beyond real-time payments in just the Philippines, but to other parts of the region as well.”Nobuo Ando, Representative Director of SBI Remit
Ripple’s partnership could bring added value to the region by leveraging blockchain technology. And its ODL solution could be very attractive to financial institutions.