Ripple Execs Speak With Mayor Of Japan’s Fastest Growing City

By Kevin • August 22, 2022 9:33 pm • Comments

Recently, Ripple executives met with the mayor of Fukuoka City Soichiro Takashima to discuss potential Web 3.0 initiatives.

The meeting indicated that there may be future plans in sight in terms of how the city may use Ripple’s blockchain technology.

So far, Ripple already has a key presence within Japan as it recently had a partnership with SBI Holdings which greatly increased the amount of adoption for XRP.

Trending: Ripple Spells Out Penalty Terms To SEC

Regulators in Japan have already clearly stated that they do not consider XRP a security which makes the country one of the friendliest environments for Ripple to grow.

zyCrypto.com reports:

One of Japan’s most respected financial services institutions, SBI Holdings, is Ripple’s key business partner.

The pair launched a joint venture, which spurred XRP’s popularity among Japanese citizens. Japanese regulators have also clarified that they do not consider XRP a security.

Ripple’s payment network has been key to its success despite the long-running suit in the United States over the sale of XRP in an unregistered securities offering.

Notably, the demand for the firm’s cross-border remittance solutions has been booming in the Eastern markets.
Earlier this week, Ripple unveiled a new joint project with SBI Remit to enable real-time payments between Japan and Thailand.

This will allow the over 47,000 Thais living in Japan to send money back home via RippleNet instantly. The San Francisco-based fintech firm also recently introduced its XRP-powered On-Demand Liquidity (ODL) service in Brazil in collaboration with Travelex Bank.

So far, there has not been any official announcement or partnership that has come out of the meeting with the mayor of the city.

But the fact that government regulators are openly meeting with Ripple executives to discuss blockchain and Web 3.0 initiatives may already be enough of a catalyst to spark a bull run for XRP.

Ripple continues to strengthen its presence within the Asia Pacific region and also continues to observe demand for its On-Demand Liquidity service skyrocket.

In the meantime, the lawsuit with the SEC back in the United States is getting closer and closer to a potential settlement.

Binance.com reports:

According to Emi Yoshikawa, the VP of Corporate Strategy & Operations at Ripple, Takashima and his team visited the Ripple headquarters today.

“We welcomed Fukuoka City Mayor Soichiro Takashima and his team at @Ripple HQ today! Fukuoka is a leading city in #Web3 initiatives in Japan.

Today, Mayor Takashima of Fukuoka City and people from the international department visited Ripple’s headquarters! I have high hopes for Fukuoka City, which is actively working on Web3,” the senior Ripple exec tweeted.

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