At the SBI Financial Results Briefing, SBI Group CEO Yoshitaka Kitao announced that the firm has already begun the discussions to create a project for R3 that uses Ripple (XRP) more extensively.
“We have already begun discussions to create a project to use XRP for R3. By using R3, XRP is used more extensively,” Kitao said.
SBI Group is one of the largest multi-billion dollar financial institutions in Japan that operate with three core businesses in asset management, biotech, and financial services. Since the creation of SBI Ripple Asia, a consortium of more than 60 Japanese banks, SBI Group has led the development and deployment of XRP-based products in Asia.
In May 2017, SBI Group led a $107 million funding round for R3CEV, the largest blockchain consortium in the history of the industry that raised hundreds of millions of dollars to develop enterprise-grade blockchain networks.
Since then, throughout the past year, SBI Group has worked with R3 to create a variety of blockchain-based systems to be utilized by large-scale conglomerates.