The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Financial Giant SBI to Test XRP in $6.6 Trillion Foreign Exchange Market

by Daily Hodl Staff
November 7, 2020
in Ripple and XRP

Japanese financial giant SBI Holdings is preparing to test the use of XRP in the foreign exchange (FX) market.

The pilot will utilize the cryptocurrency to execute cross-border currency swaps, according to the financial outlet Nikkei.

The test is designed to determine whether the speed of XRP can be used as a bridge asset to lower the risk of price fluctuations that can occur as one currency is traded for another, as well as determine potential savings on fees associated with the transfer.

To perform the trial, SBI is reportedly teaming up with the cryptocurrency startup FXcoin Ltd.

According to the Bank for International Settlements, trading in the global FX markets reached $6.6 trillion per day in April of 2019. Foreign exchange swap volumes are estimated to account for approximately half of the FX market.

Ripple and SBI are longtime partners, and SBI invested in the San Francisco-based payments company back in 2016.

That same year, the pair launched SBI Ripple Asia in an effort to bring payments powered by distributed ledger technology to financial institutions and remittance transfer providers in the region.

SBI is currently using Ripple’s payment messaging system, which is not based on XRP, to power its settlements platform Money Tap.

The company also allows shareholders to receive dividends in XRP, and gives gamers on its e-Sports team the option to receive their salaries in the digital asset.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sittipong Phokawattana

Submit a Press Release

Industry Announcements

  • BitVault Raises $2 Million From GSR, Gemini and Auros To Launch BTC-Backed Money
    June 18, 2025
  • TAC Raises $11.5 Million To Bring DeFi to Telegram’s Billion-User Ecosystem
    June 18, 2025
  • Falcon Finance Launches Pilot Season of Falcon Miles Points Program To Reward Ecosystem Participants
    June 18, 2025
  • BTCC Exchange Celebrates 14th Anniversary With Launch of First-Ever User Badge Program
    June 18, 2025
  • R0AR Introduces Unified DeFi Platform for Token, Liquidity and NFT Staking
    June 17, 2025
  • Avail Goes Full Stack To Capture $300 Billion Global Blockchain Infra Market
    June 17, 2025
  • Fans Hash Launches Zero-Barrier Cloud Mining With Daily Payouts and Global Pool Access
    June 16, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$104,806.08
$104,806.08
0.15%
Ethereum
$2,529.88
$2,529.88
0.76%
BNB
$642.68
$642.68
0.4%
Solana
$145.05
$145.05
0.91%
XRP
$2.15
$2.15
0.64%

Spotlight

  • Bitwise CIO Matt Hougan Says Worries Over US Dollar and Money Printing To Accelerate One ‘Megatrend’
    June 12, 2025
  • ‘Winter’s Not Coming Back’: Michael Saylor Says Bitcoin Primed To Skyrocket to $1,000,000 – Here’s Why
    June 12, 2025
  • US Banks ‘Deeply Concerned’ About Cybersecurity Risk Following Attack on Top Financial Regulator
    June 12, 2025
  • Crypto Analyst Says New Bitcoin All-Time Highs Incoming, Updates Outlook on Ethereum
    June 12, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl