- Senior strategist at FXcoin Yasuo Matsuda says “Our FXcoin also sees Ripplenet and XRP as game changers in international remittance”
- FXcoin will begin remittance experiments in Japan.
FXcoin, a Tokyo-based cryptocurrency exchange is dipping its feet into remittance with RippleNet, a Ripple remittance product. The cryptocurrency exchange began accepting new accounts as of April 23rd.
In addition to offering Bitcoin trading, Fxcoin senior strategist Yasuo Matsuda told Cointelegraph last month that it plans on expanding and experimenting with remittance using XRP.
According to a new weekly report, FXcoin is making good on those plans.
Our FXcoin also sees Ripplenet and XRP as game changers in international remittance. We believe that the remittance via XRP, which has started to spread mainly in B2C, will expand to B2B and large enterprise transactions, and we are planning the first demonstration experiment of XRP remittance between large enterprises in Japan.Yasuo Matsuda (Weekly Report Translated)
In the report, Matsuda states that FXcoin is planning remittance experiments in Japan using XRP. This is positive news as Asia already has established RippleNet platforms.
FXCoin is also backed by one of Ripple’s largest partners, SBI. SBI Holdings is a Tokyo-based financial conglomerate and one of RippleNet’s largest customers, processing over 10 billion JPY through SBI Remit. SBI Remit is powered by Ripple’s RippleNet.
Ripple’s flagship platform has seen rapid growth in 2020. The fintech giant has also accelerated the development of its RippleNet platform with the development of a loan platform and RippleNet Home.
In addition to providing remittance services, RippleNet Home will bolster RippleNet’s value proposition by providing institutions with market insights as well as partnership opportunities.
Furthermore as Ripple’s extensive network of partnerships and customers continues to grow, adoption follows.
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