SBI Remit which is a subsidiary of SBI FinTech Solutions Co, has informed us that the cumulative amount of remittances overseas has exceeded 800 billion yen which is approximately 7,310,175,200.00 USD. SBI Remit opened 9 years ago with a mission of providing financial services mainly for remittance to foreigners residing in Japan. According go SBI the number of foreigns living in Japan has increased significantly by approximately 31% from 650,000 to 2.73million.
SBI Remit has reported that as of November 2019,SBI has received a larger number a large inflow of human resources from Vietnam. In November of this year, Vietnam’s commercial bank TienPhong Commercial Joint Stock Bank (headquartered in Hanoi, Vietnam, representative: Nguyen Hung), “TPBank ”).
We started a remittance business using Distributed Ledger Technology (DLT), the first between Japan and Vietnam. As a result, remittance between the Company and TPBank is possible in real-time with the lowest level of commission.
Here is where XRP comes into play. Last month the CEO of SBI Holdings stated that SBI would develop remittance services that would incorporate crypto (XRP) in the future.
November 15, 2019.
SBI Ripple Asia, SBI Remit and TPBank (Vietnam) announced the start of the first Japan-Vietnam remittance service using #RippleNet.
TPBank stated at SWELL 2019 that they would use XRP, SBI owns part of Ripple and a large amount of XRP – what do you see being used here to send money back and forth from Vietnam to Japan? XRP