SBI Motor Japan will accept Bitcoin payments

Japanese e-commerce site jumped into the race of crypto & blockchain adoption & support.

SBI Motor Japan is an arm of SBI Africa Co. This is a Japanese used car exporting company, which are based in the heart of Tokyo, Roppongi Itchome. This Motor vehicle company, with this latest move, showed that it is ready to adopt the early innovations. 

On 9 May, SBI Motor Japan announced that it will accept Bitcoin( BTC) & Ripple (XRP) as an alternative payment option from the customers for the car products. The transactions of BTC and XRP will be done via SBI Group-owned crypto exchange SBI VC Trade Co. Ltd. Exchange and the company will also use the best possible solutions to prohibit any kind of illegal funding through the services of digital assets Payment. 

For now, SBI confirmed that it is in talk with its partners to work in compliance, with the precise regulatory system with a surity of Anti-money laundering checks. 

This step by this company is a response because of the increasing demand and adoption of cryptocurrencies across the world, especially in America.

According to SBI, around 1.7 billion people are facing lack of access to financial systems and if it continues then in the future these people may face shut down from financial activities.

With the step of SBI Motor Japan, Ripple’s XRP Community is feeling better confidence with this high level of support. 

At present, Ripple is under some legal hurdles because of the lawsuit filed by the US Securities and Exchange Commission (SEC) against the operations of San Francisco-based Fintech firm Ripple with its XRP token. According to the SEC agency, Ripple’s XRP is a Security but the company is using it as a digital asset against the securities law. 

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