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Japanese financial giant SBI Holdings has stated that Ripple and R3 are using the XRP in different ways to change the way value is transferred around the world.
A new financial report by SBI underscores Ripple's focus on addressing bottlenecks in international remittances for banks and financial institutions. At the same time, according to the report, R3's new Corda Settler wants to go beyond the traditional financial world by offering a wide range of companies the opportunity to use a smart contract blockchain technology to transfer money.
Both companies adopt the XRP as a means of transferring money from one country to another. R3 recently announced the launch of Corda Settler, which uses blockchain technology to settle transactions between cryptographic and traditional badets. The protocol uses XRP as its first encrypted payment rail.
In the meantime, SBI CEO Yoshitaka Kitao has delivered a speech on the potential impact that Ripple and R3 can have on international payments and the future of the global payment standard Swift.
"Swift is short of options, Swift gave up what he can do internally"
"We have to have a global standard, if you're using the Corda pioneer, with built-in XRP, so it's good for Ripple, for Corda r3, its winning win, and we (SBI) are the biggest shareholders. important. " pic.twitter.com/TsWBFh3syy– Dillon (@Dillon) January 31, 2019
On Wednesday, at the Fintech Festival in Paris, Swift announced that it would establish a connection with Corda Settler of R3.
SBI Holdings is an investor in Ripple and R3. You can read the complete SBI report here.
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