Ripple is one of the world's leading blockchain companies, 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 Ripplenet network. Ripplenet is a global network of Ripple partners that provide their services and infrastructure for processing transactions on the Ripple blockchain.
One of Ripple's main partners is the Japanese financial giant Sbi Holdings, which actively supports the development and deployment 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, allowing 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.
It recently became known that Sbi Holdings has a large amount of XRP, which it stores on its backing platform. Uphold is a web-based platform that allows users to buy, sell, store and exchange various cryptocurrencies, including XRP. Uphold is also a partner of Ripple, 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 support platform, amounting to $1.25 billion in customer funds. This is an impressive number considering that support customers only have $168 million worth of Bitcoin on the platform. This means that 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? Maybe they know something that others don't? One possible answer is that XRP has great potential for growth and development, whether as a means of exchange and liquidity on the Ripplenet network, or as a basis for tokenizing various assets. XRP is also one of the fastest and cheapest cryptocurrencies that can process thousands of transactions per second with minimal fees.
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