Ripple is one of the leading blockchain companies in the world, developing solutions for instant and low-cost cross-border payments. ripple uses its own cryptocurrency, XRP , which serves as a medium of exchange and liquidity on the R Ripplenet network. Ripplenet is a global network of ripple partners who provide their services and infrastructure to process transactions on the ripple blockchain.
One of Ripple's key partners is the Japanese financial giant Sbi Holdings, which actively supports the development and spread of ripple technology in Asia. sbi holdings has been collaborating with Ripple since July 2021, when Japan's first on-demand liquidity (ODL) service was launched, which allows payments in XRP in real time. In addition, Sbi Holdings is involved in various projects to tokenize assets, including real estate, securities, financial instruments, NFT, stablecoins and metaverses using the Ripple blockchain.
Recently it became known that Sbi Holdings has a huge amount of XRP, which it stores on its uphold platform. Uphold is a web-based platform that allows users to buy, sell, store and exchange various cryptocurrencies, including XRP. Uphold is also a Ripple partner, providing its infrastructure for the Ripple payments service, which focuses on cross-border payments.
According to the report, XRP constitutes the largest cryptocurrency asset on the uphold platform, reaching $1.25 billion in customer funds. This is an impressive number considering that uphold clients only hold $168 million in Bitcoin on the platform. this means there is almost 10 times more XRP on the platform than btc.
Why do Sbi Holdings and uphold believe so much in XRP and Ripple? perhaps they know something that others don't? One possible answer is that XRP has great potential for growth and development, both as a medium of exchange and liquidity on the Ripplenet network, and as a basis for tokenization of various assets. XRP is also one of the fastest and cheapest cryptocurrencies that can process thousands of transactions per second with minimal fees.
---