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SBI Group companies will be the first Japanese corporations to utilize solution in Japan
Hong Kong, San Francisco, and Tokyo - May 2, 2024 - Ripple, the leading provider of enterprise blockchain and crypto solutions, has entered into a strategic partnership with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, to introduce XRP Ledger (XRPL)-powered enterprise solutions to the Japanese market.
HashKey Group has achieved significant success with its blockchain-powered supply chain finance solutions, which have seen widespread adoption in mainland China. The solution was launched in July 2019, and has currently more than 4,000 companies registered, including 23 banks and 4,300 suppliers. The total trade amount recorded exceeds 7 billion USD, with financing transactions nearing 3 billion USD within the solution.
Leveraging this success, HashKey DX will partner with Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple, to introduce these supply chain finance solutions to Japan. These solutions will be built on the XRPL, a decentralized layer 1 blockchain renowned for its decade-long reliability and stability in tokenizing and exchanging crypto-native and real-world assets.
As part of this partnership, SBI Group companies will be the first Japanese corporations to utilize this supply chain finance solution. Looking ahead, the three companies will explore further collaboration on various enterprise blockchain use cases that will leverage the robust capabilities of the XRPL.
Commenting on the partnership, Andy Dan from HashKey DX stated, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution, with its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan."
"We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses," added Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple.
For media inquiries, please contact
● Ripple: Sheryl Tham, press@ripple.com
● HashKey DX: contact@hashkey.jp
About HashKey DX
HashKey DX is established as the Tokyo base of the HashKey Group. As a specialized consulting company in blockchain technology, HashKey DX supports the entry of Japanese ventures into the Web3 world and provides solutions for overseas companies to accelerate their growth in the Japanese market. Aiming to realize new businesses such as NFT, Metaverse, Web3.0, HashKey DX provides end-to-end technical support and implementation support specializing in blockchain, from planning to system design, service proposal, development and maintenance operation.
About Ripple
Ripple is the leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages, tokenizes and stores value. Ripple’s business solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.
About SBI Ripple Asia
SBI Ripple Asia is a joint venture established by SBI Holdings and Ripple to promote the use and development of Ripple’s blockchain-based solutions in Japan and Korea. SBI Ripple Asia focuses on facilitating cross-border payments and other financial services utilizing Ripple’s technology.
About XRP Ledger
The XRP Ledger is a decentralized public blockchain built for business. The peer-to-peer network that manages the ledger is open to everyone. The XRP Ledger is maintained by software engineers, server operators, users, and businesses–a global community working to solve problems and create real-world value.