Ripple: SBI Ripple Asia And Another Good Startup

SBI Ripple Asia, a joint venture between Ripple and the Japanese investment company SBI Holdings, announced its intention to create a consortium with 18 brokerage companies to explore the potential of new technologies including distributed ledger technology (DLT), artificial intelligence (AI), biometric authentication, and others.

New Startup

The participants of the project are Imamura Securities, IwaiCosmo Securities, H.S. Securities, Eight Securities, SBI Securities, Okasan Online Securities, Okasan Securities, Kabu.com Securities, GMO Click Securities, Secom Corporation, Daiko Securities Business, NEC, Daiwa Securities, Tokai Tokyo Financial Holdings, Nomura Securities, Matsui Securities, Monex Securities, Rakuten Securities.

SBI Ripple Asia (a division of SBI Holdings) also intends to form a working group to conduct in-depth experiments with distributed registry technology for further study of the blockchain.
The creation of a new consortium marks the launch of another initiative aimed at popularizing blockchain among Asian financial companies.
We would like to remind, that in 2016 SBI Ripple Asia formed an association with Japanese bank card issuers (Japanese Bank Consortium) in order to create a single data registry on the basis of the blockchain.

Ripple position on the market

Ripple is system which allows users and business to conduct cross-currency payments in real time. The main clients of Ripple are banks. They use a solution based on xCurrent software for cross-border payments with the ability to track transfers in real time.

Some critics in the cryptocurrency community are trying to draw attention to a number of obvious problems in Ripple network. Nevertheless, XRP is confidently ranked third in the CoinMarketCap list with a capitalization of more than $45 billion. Many investors are convinced of the further growth of the XRP exchange rate. They call Ripple the SWIFT substitute.
The current XRP rate is dropping. This is partly due to the general trend of Bitcoin’s and other cryptocurrencies fall.

Taking into account that the XRP exchange rate is about $1.2 for a long time, sellers do not have enough activity to break this level lower. But experts do not rule out a negative scenario when Ripple can continue to fall. A negative scenario is possible today only in the case that some news can increase the risks.

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