More than 60 interconnected banks
Through the SBI Ripple Asia alliance, the vast majority of Japanese commercial banks integrated with MoneyTap (a payments app supported by technology #Ripple ) for instant domestic and international settlements.
When a Japanese bank processes a transfer via ODL, the token acts as a bridge for only 3 to 5 seconds:
The originating bank sends Yen (JPY).
SBI VC Trade infrastructure / market makers convert the Yen to $XRP in a fraction of a second.
XRP travels via the XRP Ledger and is immediately converted into the destination local currency (e.g., Philippine Pesos PHP).
--The receiving bank receives the local fiat currency.
--The asset fulfills its role as a settlement vehicle.
SBI Holdings is the institutional node and liquidity provider that custody and operates the tokens in the background, while the Japanese banking network leverages the rail’s speed to eliminate pre-funded Nostro/Vostro accounts.
Through the SBI Ripple Asia alliance, the vast majority of Japanese commercial banks integrated with MoneyTap (a payments app supported by technology #Ripple ) for instant domestic and international settlements.
When a Japanese bank processes a transfer via ODL, the token acts as a bridge for only 3 to 5 seconds:
The originating bank sends Yen (JPY).
SBI VC Trade infrastructure / market makers convert the Yen to $XRP in a fraction of a second.
XRP travels via the XRP Ledger and is immediately converted into the destination local currency (e.g., Philippine Pesos PHP).
--The receiving bank receives the local fiat currency.
--The asset fulfills its role as a settlement vehicle.
SBI Holdings is the institutional node and liquidity provider that custody and operates the tokens in the background, while the Japanese banking network leverages the rail’s speed to eliminate pre-funded Nostro/Vostro accounts.