Ripple (XRP) Partners with Japan’s SBI to Expand Web3 Adoption

Ripple has entered a new partnership with SBI Digital Community, a subsidiary of Japan’s financial giant SBI Holdings, to promote the XRP Ledger (XRPL) within the Web3 community. This collaboration aims to expand the adoption of non-fungible tokens (NFTs) and foster a more inclusive digital art ecosystem using XRPL’s blockchain infrastructure.

Despite the significance of this partnership, XRP’s price remained stable around $0.57, showing little reaction to the news. This follows a recent decline from a local high of nearly $0.64 after developments in the Ripple v. SEC case.

Expanding XRPL’s Reach

SBI’s Bto3 Web3 initiative will utilize XRPL to connect businesses, artists, and consumers, enhancing the accessibility and use of NFTs. The collaboration will also involve xrp.cafe, a marketplace dedicated to distributing and trading NFTs on the XRP Ledger.

Ripple’s Global Expansion

This partnership is part of Ripple’s broader strategy to strengthen its global presence. Earlier this month, Ripple also partnered with the Dubai International Financial Center (DIFC) to drive blockchain adoption in the Middle East.

Market Reaction

Despite these strategic moves, XRP’s price has not seen significant volatility, remaining around $0.57. The market’s subdued response highlights the ongoing challenges Ripple faces, including legal issues with the SEC.

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