SBI Investment, one of the leading venture capital firms in Japan, made a huge announcement that can eventually push Ripple’s XRP to print green. SBI stated that it is set to become a validator on the XRP Ledger (XRPL) and it will start operating the node.
SBI makes XRP move
The VC firm mentioned that it aims to be selected for the list of trusted validators recommended by the XRP Ledger (XRPL) Foundation in the future. However, this will only be possible if it can operate stably.
The major announcement comes in when Ripple is dealing with legal challenges pushed by the US Securities and Exchange Commission (SEC). Its native crypto, XRP, is facing direct selling pressure from the community.
XRP price is down by 16% on a year-to-date basis, while Bitcoin (BTC) has gained more than 43% in the same period. XRP price dropped by another 15% in the last 30 days. It is trading at an average price of $0.512, at the press time. Its 24 hour trading volume is down by 10% to stand at $926 billion. Its market cap stands at around $28 billion.
It mentioned that once validators are registered on the Unique Node List (UNL), they can directly contribute to the development of the ecosystem. This includes voting on new features of the XRPL Leveraging its history of serving XRP holders in Japan.
SBI VC aims to be a “validator reflecting the voices of the XRP holder community in Japan.” It added that they will consider incorporating the opinions of the holders into voting decisions for new features. This will be done through surveys and other means.
What’s the plan?
In order to ensure that XRP holders can make informed and constructive decisions for the ecosystem, the Company plans to disseminate information on new features and amendments.
It is important to note that the SBI has been handling XRP since the launch of its services. It has now become one of the most popular brands. Their customers link XRP with the SBI group. The company has used the XRP Ledger for a long time through international remittance solutions such as Ripple Payments provided by Ripple.
They have planned to be used as the blockchain infrastructure for “EXPO2025 Digital Wallet NFT,” issued at the 2025 Osaka-Kansai Expo, which SBI Group sponsors.
