Japan’s Financial Giant Unveils XRP Ledger Validator: A New Era for Ripple (XRP) in Crypto Market
SBI VC Trade, a subsidiary of SBI Holdings, has begun operating as a validator node on the XRP Ledger (XRPL), marking a significant step in the company’s commitment to the ledger’s governance and development.
The news was announced by Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, who highlighted SBI VC Trade’s proactive approach in aligning with the interests of its XRP-holding clientele.
By operating as a validator, SBI VC Trade aims to reflect the voice of XRP holders and influence the network’s future features and amendments.
SBI VC Trade, a subsidiary of SBI Holdings, has launched as a validator node on the XRP Ledger, reflecting its commitment to the ledger’s governance and development, and its intent to represent the interests of its XRP-holding clientele.
SBI Announces XRP Ledger Validator Launch
SBI VC Trade’s launch as a validator node was announced by Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, via a post on X. Yoshikawa emphasized SBI VC Trade’s proactive approach in aligning with the interests of its XRP-holding clientele. The company’s announcement stated its intention to reflect the voice of XRP holders (their customers) through this validator, demonstrating diverse approaches to running validators.
SBI’s Strategy Behind Operating a Validator Node
In an official statement, SBI detailed their strategy behind operating a validator node. The company aims to operate stably as a validator and have its achievements recognized by the community, leading to its inclusion in the list of trusted validators (UNL, Unique Node List) recommended by the XRP Ledger Foundation in the future. Being part of the UNL would allow SBI VC Trade more influence in the network, especially in voting on new features of the ledger. The company further elaborated on its goals to be a validator that reflects the voices of the XRP holder community in Japan, and plans to conduct surveys to integrate customer opinions into their voting decisions for new features.
Strategic Importance Of The SBI-Ripple Partnership
SBI Holdings has nurtured a significant partnership with Ripple, leveraging the latter’s blockchain technology for various financial applications, particularly through the joint venture SBI Ripple Asia. This collaboration, which started in 2016, is focused on enhancing cross-border payment services and optimizing banking transactions across Asia using Ripple’s technology. SBI VC Trade operating as a validator is a clear signal of SBI’s intent to leverage its influence to foster the growth and stability of the ecosystem.
Conclusion
This development by SBI VC Trade is expected to not only benefit SBI’s operations but also contribute to its robustness as an enterprise-grade blockchain solution recognized for its fast settlement, low cost and scalability. At press time, XRP traded at $0.51671, down 30% since its high of $0.74 in mid-March.
