FXcoin, a prominent Tokyo-based cryptocurrency exchange, is test-running what it calls the first of its kind XRP remittance service between large enterprises across Japan.
The action, according to the exchange which recently launched a remittance pilot in the B2C industry, is confirming Ripple’s disruptive nature in the international fund transfer world.
In its weekly report, FXcoin pointed out that it is benefiting from Ripple and XRP, and that the two have immensely changed the FXcoin’s scope and the international remittance world entirely.
Although the report was written in Japanese, it showcases that FXcoin is expanding to B2B and large enterprise transactions and it is also planning to achieve the first demonstration experiment of XRP remittance between large enterprises in the whole of Japan.
Earlier, FXcoin announced it was preparing to launch a separate remittance pilot using XRP crypto token.
In December 2019, the exchange was given permission to launch its services by the Financial Services Agency, Japan, and it started accepting new accounts on April 23rd.
The exchange also announced it was adding altcoins alongside Bitcoin (BTC) and will unveil new ideas to bring utility into the cryptocurrency world.
FXcoin first piloted across the border and domestic transfer of funds with the use of XRP. The Exchange’s senior strategist Yasuo Matsuda told Cointelegraph Japan it came into the crypto world as the chief among cryptocurrency initiatives, launched across the finance world.
At that time, Yasuo said the exchange was demonstrating fund transfer using XRP and would move into the global cash management, trade, and corporate finance over time.
Japan as one of Ripple’s strongholds. Its strongest collaborator, SBI Holdings has created different openings for Ripple and digital asset XRP.
The commercialization of RippleNet-based MoneyTap is one of the most rewarding outcomes of SBI-Ripple friendship. Many banks across Asia are queuing up to use the initiative.