By 2025, nearly 80% of Japan’s banks will integrate Ripple’s XRP (XRP-USD) into their systems, dramatically improving cross-border payments and remittances. This move is expected to significantly lower transaction times and costs, according to The Crypto Times. Japan’s financial sector is increasingly confident in XRP’s ability to enhance international money transfers and drive the adoption of blockchain technology in finance.
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XRP Gains Momentum in Japan
Industry leaders like Yoshitaka Kitao, CEO of SBI Group, are strongly backing XRP for its potential to streamline cross-border transactions. Kitao views XRP as the ideal solution for international remittances, which are vital for Japan’s large migrant worker population. “Real demand” for XRP is key to its long-term success, Kitao emphasized, contrasting it with Bitcoin, which he believes lacks inherent value. This adoption could make remittances faster and cheaper, benefiting millions globally.
Other Countries Could Follow Suit
Japan’s move with XRP could prompt other countries to follow along. As Ripple grows its On-Demand Liquidity network, XRP could become a key tool in global finance and set the stage for other financial institutions to adopt it. If Japan’s banks go all in on XRP, it could push the cryptocurrency into the mainstream and boost blockchain adoption worldwide.
At the time of writing, XRP is sitting at $2.1138.
