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

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.

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