The news reaching Today’s Gazette at the moment is that there is plan to create SBI-R3, a prototype of SBI-Ripple Asia that launched a widely-praised cross-border payment application “MoneyTap”. Interestingly, the new consortium is going to increase the adoption of XRP.
Speaking at a briefing on the newly settled dispute between R3 and Ripple (XRP), Yoshitaka Kitao, president and CEO of SBI Holdings, said effort is underway to create SBI-R3 Asia.
President Kitao who has been doing everything to resolve the dispute between Ripple and R3, a blockchain development company based in the US, said he would want R3 to create a project that will solely depend on XRP virtual currency.
According to Cointelegraph, SBI, which has around 10% shares in startup Ripple, is also the principal shareholder of R3.
With SBI-R3, Ripple-R3 Dispute Resolved
The CEO said both Ripple and R3 have pressed to resolve the litigation problem internally, pointing that they are now discussing on creating SBI-R3 Asia. He urged the R3 to create a project that uses XRP as soon as possible.
Around May, Japan’s SBI Holdings with nothing less than 40 financial institutions across the globe pledged $107 million to R3. Majorly, SBI committed 2 billion yen ($17.9 million) in purchasing R3 shares at that time.
