Ripple has recently unveiled a strategic partnership with SBI Digital Community Co., a subsidiary of Japan’s financial powerhouse, SBI Holdings. This collaboration aims to amplify the adoption of the XRP Ledger and facilitate the issuance of non-fungible tokens (NFTs) on the blockchain. The primary objective is to promote the XRP Ledger within the web3 community, leveraging SBI’s extensive network and expertise in the digital space.
SBI Digital Community Co. will harness its Bto3 Web3 platform to introduce the XRP Ledger to a broader audience. This initiative is expected to enhance the visibility and utilization of the XRP Ledger, which is renowned for its efficient, low-cost, and eco-friendly cross-border payment capabilities. By integrating NFT issuance into this strategy, the partnership seeks to attract more individual users and foster engagement with the XRP ecosystem.
Ripple Tests RLUSD Stablecoin on Ethereum and XRP LedgerThe issuance of NFTs on the XRP Ledger will be supported by platforms like Xrp.cafe, which will serve as a marketplace for distributing, buying, and selling NFTs. As part of this initiative, creators and contributors within the community will receive XRP rewards, adding a financial incentive to participate and contribute to the growth of the XRP Ledger.
In addition to this new venture, SBI Holdings has maintained its long-standing support for Ripple. The company continues to explore various projects that utilize Ripple’s technology, including solutions for supply chain management, new remittance corridors, and mobile payment applications. Notably, SBI Holdings plans to showcase Ripple and XRP at the 2025 World Expo, underscoring its commitment to advancing Ripple’s technology and expanding its reach.
Moreover, SBI recently announced its intention to enter the Bitcoin ETF market in collaboration with Franklin Templeton. However, Japan’s top financial regulator remains cautious about approving Bitcoin ETFs, which may impact the timeline and regulatory landscape for such products in Japan.
In the current market, XRP is showing promising technical signals. As per JackTheRippler, an analyst, the cryptocurrency has recently broken out of a triangle pattern, with its next target projected between $0.70 and $1.
As at press time XRP is trading at $0.576471, with a 24-hour trading volume of $1,291,026,432. Over the past 24 hours, XRP has risen by 0.92%. The 1-day RSI of 52.12 indicates a neutral market condition, neither overbought nor oversold. However, the 1-day MACD trading below the signal line suggests that short-term downward pressure may influence the price.
