SBI VC Trade, a crypto exchange firm managed by Japanese financial giant SBI Holdings has announced it is now a validator on the XRP Ledger (XRPL). According to the exchange’s announcement, this decision reflects the voice of its customers (XRP holders).
The vision of SBI VC Trade
SBI VC Trade said it aims to be included in the list of trusted validators recommended by the XRP Ledger Foundation in the future. The XRPL dUNL operator, Vet, emphasized that the launch is a “huge step” toward having large enterprises running infrastructure for the XRP Ledger.
As a validator on XRPL, SBI will be permitted to cast votes and help shape the governance of the XRPL, just like all other nodes. SBI VC Trade said it plans to educate XRP holders on new feature amendments to XRPL.
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XRP レジャーのバリデータとして
ノード運用を開始❗
＼SBI VCトレードでは、5月10日より、レイヤー１の分散型ブロックチェーンであるXRPレジャー上のバリデータとして、ノード運用を開始することをお知らせいたします✨… pic.twitter.com/PXborbOXvz
— SBI VC Trade (SBI VCトレード） (@sbivc_official) May 10, 2024
This is to ensure they offer informed and useful feedback to the ecosystem. In a nutshell, SBI’s involvement with XRPL could bring about rapid growth to the ecosystem
It is worth noting that Ripple’s partnership with SBI began in 2017. So far, their partnership remains beneficial for XRP holders, offering year-end benefits to them. Also, SBI Remit, a subsidiary of SBI Holdings, extended the reach of its XRP-powered services to many nations in 2023, including the Philippines and Vietnam.
Ripple’s Dealings With Japan
Ripple has had a great relationship with Japan for a long time. In fact, Ripple’s CEO Brad Garlinghouse describes the nation as one of the most friendly jurisdictions for crypto trading.
Back in 2020, he proposed moving Ripple’s headquarters to Tokyo, Japan’s capital. This was before the US Securities and Exchange Commission (SEC) filed a securities lawsuit against the company.
Furthermore, Ripple recently announced partnership with Hashkey DX, a specialized consulting company based in Tokyo. With this partnership, Ripple aims to introduce enterprise solutions powered by the XRPL to the Japanese market.
