Ripple new partnership allow XRP for Japan-Philippines remittances

Ripple announced their partnership with SBI Remit, Coins.ph and SBI VC Trade using Ripple’s ODL service. This partnership will allow the use of Ripple to facilitate the remittances between Japan- Philippines. 

San Francisco-based payments technology company Ripple is facing lots of problems because of the lawsuit Against their operations by the Securities & Exchange Commission of the United States. But still in such a dramatic situation they are working at their basic business and expanding their payment infrastructure at a high level especially in Asia-Pacific region.

Related: Court Granted Ripple Access to SEC’s Internal Trading Policies On XRP

Ripple announced their Partnership with SBI Remit, Coins.ph and SBI VC Trade use Ripple’s ODL service. They will use Ripple as a bridge to facilitate the transactions. 

There are around 5 million Citizens of the Philippines who are living in foreign countries. After India and China, the Philippines is the third-largest remittance-receiving country in the world. 

Asheesh Birla who is general manager of RippleNet at Ripple, stated that 

“The expansion of our relationship with SBI Remit to kickstart RippleNet’s ODL service in Japan marks a major milestone in one of our largest markets. SBI Remit has been a leader when it comes to embracing new technology to deliver the best customer experience”

Nobuo Ando who is the representative director of SBI Remit said that they can see that blockchain technology  is not limited to transactions related functionality but there are many types of potential that blockchain can bring and we can use that potential of blockchain technology to manage & push business at high level. And here our partnership aims to provide a real time payment system which will not remain limited to the Philippines only.

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