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Partnerships and updates from Ripple and XRP have been on the front page for quite some time now. The main example is r3's rapprochement with Ripple, led by Brad Garlinghouse. Ripple has also been involved in partnerships with large banking conglomerates such as SBI, the largest banking group in Japan.
In a recent SBI discussion, Yoshitaka Kitao, Chairman and CEO of SBI, spoke about partnerships and their significance for the cryptocurrency domain. He said the main plan was to scale up financial services using Corda and XRP. Kitao further added that the merger would reconcile and make the joint venture with XRP. In his words:
"The SBI r3 Japan will be established with the last move. R3 has more than 300 partners that will make this activity very successful. Corda de R3 is a distributed ledger technology whose provisional introduction is supported by us. The important thing is to make sure that XRP is practically used by r3 and Ripple. "
According to the major financier, the transfer of international funds and other areas such as international remittances are at the center of current concerns. Kitao added that Corda and XRP from r3 had a high affinity and that both could be used together for useful functions. He candidly admitted that SWIFT's partnership with r3 may have upset Ripple, but was in his opinion excellent news that allowed the market to grow by 13%. He also said:
"SWIFT conducts nearly 15,000 transactions daily with more than 10,000 established partners. They have technology and even SWIFT has recognized that they have reached their limits. They did everything in their power and with the r3 merger, costs could be significantly reduced. "
Yoshitaka Kitao also said that SBI would collaborate with regional banks and that processes could be transformed using Corda's r3.
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