Ripple just dropped a bombshell of an announcement: a key partnership with SBI Digital Community Co., a branch of Japan’s financial giant SBI Holdings. This power duo aims to enhance the adoption of the XRP Ledger and support the creation of non-fungible tokens (NFTs) on this blockchain. Renowned for its lightning-quick, budget-friendly, and eco-conscious cross-border payments, the XRP Ledger is about to get a major upgrade.
But that’s not all. Here are all the details of this new development.
Expanding Web3 Integration
The focus of this partnership is to introduce the XRP Ledger to a wider audience within the web3 community. SBI Digital Community Co. will use its Bto3 Web3 platform to attract more individual users to the XRP Ledger. The initiative will also include issuing NFTs on the XRP Ledger, with platforms like Xrp.cafe being used for NFT distribution, buying, and selling.
Creators and contributors in this space will earn XRP rewards as part of the program.
A Deepening Relationship
SBI Holdings has been a long-time partner of Ripple and is expanding its involvement in the crypto world. The company is working on projects like supply chain solutions, new remittance routes, and mobile payment apps, all using Ripple’s technology. SBI also plans to showcase Ripple and XRP at the 2025 World Expo, highlighting its commitment to the partnership.
Recently, SBI also announced plans to enter the Bitcoin ETF market with Franklin Templeton, though Japan’s financial regulator remains cautious about approving Bitcoin ETFs.
Impact on XRP Market
The news of this partnership has positively affected XRP’s market performance. XRP’s price has increased by 1% in the last 24 hours and by 14% over the past week. It is currently trading at $0.57, with a 24-hour trading range between $0.560 and $0.578. However, trading volume has dropped by 21% in the last 24 hours, suggesting a slight decrease in trader interest.
This partnership between Ripple and SBI Digital Community Co. is a major step in boosting the XRP Ledger’s adoption and expanding the NFT market, strengthening XRP’s role in the growing digital economy.
Also Read : Did Gary Gensler and Elizabeth Warren Purposely Suppress XRP Prices to Buy at a Lower Cost?
Is this the spark XRP needs to ignite a new bull run? Only time will tell.
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