Japanese finance giant SBI Holdings has released its nine-month monetary report today, Jan. 31. in the report for the period ending on Dec. 31, 2018, SBI notes Ripple’s potential for cross-border payments.

SBI outlines the implementation of technologies by Ripple (XRP) and blockchain consortium R3 as a serious part of its strategy to enable a global standard for monetary operations like international payments and trade finance.

In the section titled “Business area Separation of Ripple and R3,” SBI featured Ripple as an entity “specializing in international remittance,” whereas R3 is liable for developing projects that “are not restricted to the financial industry by using smart contract-based technology.”

SBI conjointly stressed that XRP is that the initial cryptocurrency that's supported by R3’s Corda Settler. The recently launched decentralized application allows payment obligations on the Corda blockchain to be settled via all international payment systems, both traditional and blockchain-based.

As part of the strategy to enable a fintech shift, SBI conjointly mentions its new blockchain initiative S coin platform, that it trialed for retail payments in September 2018. The report states that integration of R3’s Corda Settler onto the platform can streamline S coin and enable it to operate globally.

On Jan. 30, Top Market Group reported on major international banking payments network SWIFT’s plans to launch a Proof-of-Concept (PoC) to permit R3 to link to GPI (Global Payments Innovation) payments from their platform.

Earlier in December, SBI Holdings-founded crypto exchange Vctrade started acceptive deposits in major cryptocurrencies together with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).

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