Swiss rival currency on the SBI virtual currency exchange

nBuzz comments: SBI Virtual Currencies, the SBI Group’s digital currency exchange, has just released a beta and recently announced that it will list it as the cryptocurrency it currently only supports. In fact, some recent news shows that SBI and Ripple have reached a close working relationship that is largely based on the similar mission of the two companies. SBI’s high opinion of Ribocoin should also give crypto-currency enthusiasts some inspiration.n
nTranslation: Inan
SBI Virtual Currencies is the SBI Group’s recently established digital currency exchange designed to simplify cryptocurrency trading for its institutional clients in Japan and for individual investor clients. XRP will become the first and only cryptocurrency to be listed on the exchange. SBI initially proposed to set up the exchange by the end of 2016, but did not disclose the cryptocurrency that was established or supported at that time.n
SBI VC is one of the first crypto currency exchanges approved by the Japanese government in November 2017. In addition, SBI recently formed a coalition of Japanese securities firms, led by SBI Ripple Asia, which will enable Ripple’s payment agreement to be available across Asia.n
From its official release point of view, SBI President and CEO Kita Kitoshi Takatoshi Ruipo great potential. In a discussion in August 2017, he said:n
n”Not only is Ritcheycoin a clear use case, it is faster, cheaper and scalable than any other digital asset and I firmly believe it will become the global standard for cryptocurrencies.”n
nRipple’s xRapid enables payment providers and financial companies to demonstrate liquidity costs and customer experience. According to its contribution, SBI VC will also establish contact with the xRapid ecosystem. As a result, banks, payment providers and individuals will be able to more easily “Ruipo currency – yen” exchange.n
Patrick Griffin, Ripple’s senior vice president of business development, believes the partnership will help the company accomplish its mission. According to him, the alliance’s motivation is to rationalize currency flows – “building a value internet.”n
He also admitted:n
n”Today’s decision to use XRP as the key digital asset of SBI VC shows that the world’s leading financial institutions have seen the effectiveness, efficiency and scalability of Ruiposi, which signals our mission of creating the liquidity of Ruipos and the establishment of a value internet An important step in the process. “n
nRipple is one of the most outstanding cryptocurrencies in 2017. At the beginning of last year, the transaction price was around $ 0.006 and then began to slowly and steadily climb to a peak of nearly 40 cents in the second quarter. Then until December, the trading price of Ribo currency is between 0.2 US dollars and 0.3 US dollars hovering. But in that month, its price rose from $ 0.245918 to its all-time high of $ 2.78 on December 30, an increase of over 1000%. In early January of this year, the upward trend continued and its highest price reached 3.75 U.S. dollars. Even with the recent downturn in the cryptocurrency market, Ruipo currency prices have dropped to $ 1.03, but it remains one of the best-performing digital assets by far.n
In an interview with Fortune magazine in October 2017, Ripple CEO Brand Garlinghouse said:n
n”People can use digital assets to finance liquidity, and Ripple has a unique advantage in this regard: It takes four hours for Bitcoin to process a deal, while Ripple takes just 3.6 seconds.”n
nSBI and Ripple have similar missions, and they will welcome a wonderful year together. It remains to be seen how Ruipo Coin’s impact on the IPO price of SBI VC will be. As of press time, according to CoinMarketCap data, Ritchie coin transaction price of 1.13 US dollars.n

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