Ripple Partners with SBI Group and HashKey DX to Introduce Blockchain-Based Financial Solutions to Japanese Businesses

According to the announcement, HashKey is partnering with SBI Ripple Asia (a joint venture between Ripple and SBI Holdings) to establish and bring its supply chain finance solutions, which will be built on Ripple’s XRP Ledger (XRPL), to Japan. Firms in the SBI Group will pioneer the use of these solutions in the Japanese market.

Notably, HashKey offers its own blockchain-based supply chain solutions, which have seen widespread adoption within mainland China. Over 4,000 companies, including 23 banks and 4,3000 suppliers, are reportedly registered users of these solutions. 

The collaboration will capitalise on XRPL’s renowned capabilities for its instantaneous transaction speeds, scalability, and low costs, making it the perfect platform for deploying supply chain finance products. The three firms will also explore more avenues for other different enterprise blockchain use cases that will capitalise on XRPL’s capabilities. 

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Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, expressed excitement about the three firms’ collaboration and noted that it demonstrates their collective goal to make blockchain technology useful for businesses. In his words: 

“We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.”  

Andy Dan, speaking for HashKey DX, commented on the collaboration, stating that the XRPL was the best blockchain platform for the firm to develop its proven supply chain finance solution. 

He further noted that thanks to the blockchain’s proven enterprise track record and impressive performance metrics, HashKey DX is confident in the trio’s ability to introduce innovative, advanced solutions for Japanese businesses. 

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