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Japanese banks have increasingly flocked to Ripple’s XRP Ledger to bolster the country’s digital payment infrastructure. Yoshitaka Kitao, CEO of SBI Holdings, is a strong proponent of XRP. Earlier this year, Kitao said that all banks in Japan will adopt XRP. Under Kitao’s leadership, SBI Holdings has seen a sharp strengthening of its partnership with the fintech company. According to reports, nearly 80% of Japanese banks will integrate XRP in 2025. Ripple Braces For Major Adoption Surge Source: Watcher.Guru SBI Holdings is not the only Japanese entity with strong ties to the XRP ecosystem. Earlier this year, the Bank of Japan (BOJ) integrated XRP for cross-border payments. The trend of utilizing blockchain technology for international remittance will likely continue to grow. The XRP Ledger is at the forefront of this effort. With more banks flocking to Ripple’s XRP Ledger, the underlying asset may see a spike in exposure. XRP may become a global standard in the n...

SWIFT, UBS Asset Management and blockchain oracle provider Chainlink (LINK) have joined forces to successfully complete a pilot for settling tokenized transactions on the Swift network. According to a new announcement from Swift, the initiative allows for digital asset transactions to settle off-chain with fiat payment systems all over the world. The aim of the pilot was to address problems in traditional finance operations, including delayed settlements and real-time transparency. It utilized Chainlink and Swift to settle subscriptions and redemptions for tokenized investment vehicles. Says SWIFT head of Strategy Jonathan Ehrenfeld, “For digital assets to be adopted globally, they must seamlessly integrate with both existing payment systems and digital currencies. Our work with UBS Asset Management and Chainlink in MAS’ Project Guardian leverages the global Swift network to bridge digital assets with established systems. This initiative aligns with ...

The Hong Kong Monetary Authority (HKMA) confirmed that they are in phase two of pilot testing the central bank-issued digital currency (CBDC). The e-HKD pilot program will explore tokenized deposits for day-to-day payments and asset settlement options. In addition, HKMA announced that 11 firms have been selected to be a part of the pilot testing process. The firms include financial institutions, banks, and management companies. Also Read: Warren Buffett Dumps $863 Million Worth Bank of America Shares The 11 firms will work closely with HKMA and integrate the CBDC digital currency using innovative methods and standards. “Under phase 2, 11 groups of firms from various sectors have been selected to explore innovative use cases for e-HKD and tokenized deposits across three main themes, namely settlement of tokenized assets, programmability, and offline payments,” read the report. Also Read: US Dollar Dominates, But De-Dollarization Advances Rapidly Hong Kong’s Digital Cur...