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Crucial Ripple (XRP) Move from One of Japan’s Largest Financial Institutions

source-logo  en.bitcoinsistemi.com 10 May 2024 20:30, UTC
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SBI Holdings, one of Japan's leading financial institutions, announced its decision to join $XRP Ledger (XRPL) as a validator.

The company's cryptocurrency subsidiary, SBI VC Trade, will begin operating as a node operator for the protocol starting May 10, 2024, to support the growth of the XRPL ecosystem.

SBI Holdings has a long-standing history of using $XRP Ledger through Ripple Payments, a blockchain payment infrastructure provider that leverages $XRP to facilitate global payments. Building on this relationship, SBI Holdings has expanded its relationship with XRPL through SBI VC Trade, becoming the latest node operator to join the network.

A representative from SBI VC Trade said:

“Our company started using $XRP Ledger as a validator. By considering an operational system that reflects the voice of $XRP-holding customers, we will be able to use the $XRP Ledger and process $XRP transactions more directly.”

Apart from joining the protocol as a validator, SBI VC Trade also aims to enter the Unique Node List (UNL), a list of trusted node operators that play an important role in ensuring the integrity of the network.

However, the company's contributions and achievements as a protocol node operator will determine its eligibility for the list.

*This is not investment advice.

en.bitcoinsistemi.com