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Japanese financial giant and Ripple partner SBI begins the minting of XRPL-based NFTs for the 2025 World Expo in Japan,…
The post Ripple Partner SBI Mints 920 NFTs on XRPL for the 2025 World Expo in Japan first appeared on The Crypto Basic.
SBI Holdings, a long-standing Ripple partner, recently discussed details about XRP in its financial results for the fiscal year ending March 2025.Released on Feb. 7, 2025, the report only recently gained traction within the XRP community after WrathofKahneman (WOK), a notable figure in the space, called attention to it in a post on X.Notably, the document, which highlights SBI's financial statements for the nine months ending in December 2024, also discusses XRP's circulation status, the market value of shareholder benefits tied to the asset, and the growing partnership with Ripple.XRP in Circulation and in Ripple EscrowOne section of SBI's report focuses on XRP's circulation status as of Feb. 2, 2025. It reveals that out of a maximum supply of 100 billion XRP, approximately 57.76 billion XRP are circulating in the market, with a market capitalization equivalent to around 20 trillion Japanese Yen. Notably, around 0.01 billion XRP have been burned as transaction fees, a mechanism inherent to the XRP Ledger that helps mitigate spam transactions. Data from XRPScan corroborates these figures, showing that the XRPL has burned exactly 13.625 million XRP since inception.XRP in Ripple EscrowXRP in Ripple EscrowThe report also breaks down the remaining XRP, revealing that Ripple currently holds about 4.79 billion XRP, while a substantial 37.43 billion XRP remains locked in escrow. For context, the Ripple escrow system ensures that XRP is released gradually, preventing market oversaturation. XRP as Shareholder BenefitsMeanwhile, in another section of the report, SBI highlighted the market value of shareholder benefits distributed in XRP over the past few years. Since March 2020, they had distributed XRP as shareholder benefits on five occasions, totaling 796 XRP, which equates to roughly 8,000 Japanese Yen in value. When weighted against the average price of XRP over these five distributions, the value stands at about 50.2 Japanese Yen per XRP. However, as of Feb. 6, 2025, the market value of these distributions has surged to around 354.6 Japanese Yen per XRP, representing about seven times the initial value. Shareholder Benefits in XRPShareholder Benefits in XRPThe report also tracks XRP's price fluctuations over time, as the asset continues to grow. For instance, by the end of fiscal year 2023, 80 XRP were worth 8,000 Japanese Yen, but this value soared to 25,000 Japanese Yen by February 2025, reflecting XRP's price appreciation from 100 Japanese Yen to 354.6 Japanese Yen per token. Ripple and SBI Holdings' PartnershipNotably, the collaboration between SBI Holdings and Ripple has continued to grow over the years, as highlighted in a section of the report. Both entities began their partnership in 2012, with SBI now holding a 9% stake in Ripple, making it the largest external shareholder in the firm. SBI and Ripple PartnershipSBI and Ripple PartnershipIn 2016, the two entities established SBI Ripple Asia, a joint venture with SBI owning 60% and Ripple 40%, aimed at advancing remittance services in the Asia-Pacific region. By 2021, SBI Remit began offering Japan's first international remittance service using XRP as a bridge currency. The partnership has since expanded, with plans to issue NFTs on the XRP Ledger at Expo 2025 in Osaka, Japan. Additionally, in December 2024, SBI started sales of RLUSD, a USD-linked stablecoin.
Standard Chartered's crypto custody subsidiary, Zodia Custody, has raised $36 million in a series A funding round led by SBI Holdings. Standard Chartered remains the majority shareholder in the firm. (Read More)
<p> B2C2, a cryptocurrency liquidity provider owned by Japan's <a href="https://www.financemagnates.com/tag/sbi/" target="_blank">SBI Holdings</a>, has expanded its partnership with <a href="https://www.financemagnates.com/tag/kx/" target="_blank">KX</a>, a provider of database and analytics engines, for more advanced trading analytics and offering expansion. </p><p class="MsoNormal">According to the press release, B2C2 will use high-performance and real-time analytics solutions provided by KX, including KX Dashboards, a visualization tool for databases and datasets. The new tool is expected to offer institutional clients, who are increasingly looking to invest in the cryptocurrency ecosystem, services and products similar to those provided by T1 investment banks in traditional finance.</p><p class="MsoNormal">KX's <a href="https://www.financemagnates.com/terms/a/analytics/" target="_blank" id="0cd41468-7088-4154-93a3-bf5c46f15957_4" class="terms__secondary-term">analytics</a> technology, based on its proprietary kdb+ solution, will allow B2CB to process enormous amounts of data in real-time. It is extremely important for customers to make important decisions in the shortest possible time.</p><p class="MsoNormal">kdb+ is a relational time series database (TSDB), commonly used in <a href="https://www.financemagnates.com/terms/h/high-frequency-trading-hft/" target="_blank" id="eb8678b0-4752-44cf-99a8-d0c757847ba7_1" class="terms__main-term">high-frequency trading (HFT</a>) for handling and analyzing billions of records in a short period of time. According to <a href="https://www.financemagnates.com/tag/b2c2/" target="_blank">B2C2 </a>representatives, this type of solution will work perfectly in the highly volatile and dynamic digital asset market.</p><p class="MsoNormal">"We are pleased to be working with KX, which supports B2C2 in delivering real-time data-driven trading insights and decisions to digital assets markets. KX is recognized and respected for its industry-leading technology across the world's major financial institutions and working with them aligns with our clients' and counterparties' capabilities," Nicola White, the CEO at B2C2, said.</p><p>B2C2 With New Offering for OTC Crypto Market</p><p class="MsoNormal">In October, the cryptocurrency market-maker announced the expansion of its current offering with the addition of electronic options trading for the over-the-counter (OTC) crypto market. The new options are currently offered through the Single Dealer Platform.</p><p class="MsoNormal">B2C2 has been linked to the institutional cryptocurrency market since 2015. Although the institutional industry took its first steps seven years ago, it is now highly developed, engaging the world's largest financial companies.</p><p class="MsoNormal">The company, which is headquartered in the UK, with offices in the United States and Japan, is expanding its operations in major markets like the US with the announcement of <a href="https://www.financemagnates.com/cryptocurrency/news/b2c2-launches-options-trading-for-otc-crypto-market/">Nicola White</a> as the new CEO in the US. </p> This article was written by Damian Chmiel at www.financemagnates.com.
SBI Motor Japan is now accepting bitcoin and another cryptocurrency in an effort to provide cross-border access to used-cars for unbanked users.
Tokyo’s biggest financial services company releases a cryptocurrency asset fund, which is the first available for retail investors in Japan. Covered SBI’s Crypto Asset Portfolio Details Of SBI’s Plan For Investors SBI’s Crypto Asset Portfolio Japan retail investors can now invest in cryptocurrencies through the SBI Group. On December 17th, Tokyo’s biggest financial services firm […]
The post Tokyo SBI’s ‘Cryptocurrency Asset Fund’ Launches in Japan appeared first on CryptosRus.
SBI Holdings, the Japan-based financial services provider, recently announced an investment in Coinhako, one of the largest crypto exchanges in Singapore.
Japanese financial conglomerate SBI Holdings is reportedly launching a crypto fund that will invest in several cryptocurrencies. “I want people to hold it together with other assets and experience firsthand how useful it can be for diversifying portfolios,” said an executive of the company. SBI Holdings Launching Crypto Fund SBI Holdings Inc. has revealed its… More
The post Japan’s Financial Giant SBI to Launch Cryptocurrency Fund appeared first on BTC Ethereum Crypto Currency Blog.
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