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In a major move, Japan’s Central Bank has announced that by 2025, XRP will become the standard for transactions across the country.
This decision marks a significant shift in Japan’s digital currency strategy, positioning it as a potential leader in the global digital payment revolution.
Japan’s ambitious plan will see every bank in the country adopting XRP, enabling customers to use the digital asset for payments nationwide. This initiative will not only simplify transactions but also introduce a new way for users to earn rewards. Customers making payments with XRP will receive CryptoTradingFund (CTF) tokens, which can be redeemed for products or converted to fiat currency, offering a unique cash-back option.
Moreover, the move aligns with predictions by SBI CEO Yoshitaka Kitao, who had forecasted XRP’s integration into Japan’s banking sector by 2025.
Kitao’s vision of XRP’s role in Japan’s financial infrastructure is becoming a reality, driven by Ripple’s technology, including xRapid and RippleNet. In fact, SBI Holdings is at the forefront of this transition, with plans to launch the SBI VCTrade platform in March. This platform will allow users to purchase XRP and other tokens using Japanese Yen, further accelerating XRP adoption across Japan.
Kitao has been a strong advocate for XRP, citing its growing utility in cross-border transactions.
It is worth noting that this announcement follows a recent legal victory for Ripple Labs against the U.S. Securities and Exchange Commission (SEC). The court ruled that XRP is not a security, resulting in a reduced civil penalty for Ripple and paving the way for broader adoption. This legal clarity has facilitated XRP’s integration into Japan’s financial system.
In addition, Ripple Labs has introduced Ripple USD (RLUSD), a new stablecoin pegged to the US dollar, launched on both the XRP Ledger and Ethereum blockchains. RLUSD aims to enhance cross-border payment systems with its stable value and cash reserves, further solidifying XRP’s role in global financial markets.
This being said, Japan’s decision to adopt XRP is expected to drive significant changes in its digital currency market and the XRP Ledger (XRPL). The anticipated increase in XRP transactions will likely lead to dynamic market developments as businesses and consumers adapt to the new standard.
This move, supported by major industry players like SBI, signals a major shift in the global financial landscape. Japan’s potential rise as a leader in digital currency usage underscores the growing influence of cryptocurrencies and sets a precedent for other countries to follow.
The post <a href="https://www.unlock-bc.com/127286/japan-to-adopt-xrp-as-national-standard-by-2025-could-it-become-a-global-leader/" rel="noopener noreferrer nofollow">Japan to Adopt XRP as National Standard by 2025, Could It Become a Global Leader?</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.

Japan to Adopt XRP as National Standard by 2025, Could It Become a Global Leader?

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