Ripple partner and Japanese financial giant SBI is bullish on XRP, stating that XRP’s market capitalization will exceed that of Bitcoin’s (BTC) in 2019.
According to a Q&A article published by Japanese news outlet Coinpost.jp, the President and Representative Director of SBI Holdings, Yoshitaka Kitao, said XRP is dominating international expansion and will become global in the future.
Adding to this, Kitao said:
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
SBI Holdings and XRP
SBI Holding is a financial services company based out of Tokyo. The company is listed on the first section of the Osaka Securities Exchange and Tokyo Stock Exchange, and they launched Japan’s first bank-owned cryptocurrency exchange.
SBI Holdings is also a big proponent and partner of Ripple (XRP). The 2 companies have multiple joint ventures, and SBI has provided funding for various cryptocurrency projects. Their most recent crypto investment was $15 million in the Swiss crypto card maker, Tangem.
Director of Japanese SBI Holdings Bullish on XRP
Part of the reason Kitao is so bullish on XRP is because of the SBI joint venture with the US-based distributed ledger technology company R3 to establish SBI R3 Japan.
This newly established company will be responsible for providing licensing and introduction support in Japan for R3’s blockchain platform “Corda.” Since SBI is a partner of Ripple, the company wants XRP to be utilized for international remittances via the Corda Settler platform.
During the Q&A held by Coinpost.jp, Kitao said:
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
Kitao also took his excitement and bullish sentiment for XRP to Twitter:
— 北尾吉孝 (@yoshitaka_kitao) February 5, 2019
Do you agree with Kitao that XRP’s market capitalization will surpass that of Bitcoin (BTC) in 2019? Will XRP become the global standard for international remittances? Let us know what you think in the comment section below.