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Ripple and Vechain Partnering via SBI Holdings- Is it True?

Highlights

    Rumors making headlines, claiming that Ripple and Vechain are partnering via SBI holdings. Unfortunately, neither Ripple nor Vechain release any official information on the same.

    A statement of CEO of Vechain, Sunny Lu quietly raise the bar of XRP proponents

    Very recently, SBI collaboration with CITA Co LTD and Hyakusho Market Co Ltd had also created a lot of buzz.

    XRP remained in a bearish trend, currently standing on the fourth spot of the CoinMarketCap.

SBI holdings, a financial services company, which has huge investments in Ripple(XRP) is making the headlines. Given the information being exploded about Ripple and Vechain partnering via SBI which is already using Ripple’s technology, the crypto community is expecting some great news in the coming days.

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Interestingly, the CEO of Vechain gave a hint in an interview that Vechain and Ripple could be a good combination as partners. However, there is no hard proof or any press release or announcement on any platform from the leaders from the company, to support the claim.

You may also read – Ripple Makes place in CNBC’s Top 50 Disruptor Companies list 2020

VeChain’s CEO Hints on the Partnership with Ripple

In the recent past, CEO of Vechain Sunny Lu, in an interview with the ‘Digital Asset Investor’ explained that Ripple and Vechain could become good partners. Elaborating the same he said,

“Well, let’s make it Ripple, XRP. Well, I mean, we could be good partners in the future I would say because we are focused on different things. We are focused on business activities, non-financial applications, while XRP is focused on payment solutions which could be a good combination.”

When asked on the discussions with Ripple on the partnership, he replied,

“Well, I have some friends that I am really connected to them, but for right now my mission and vision are on building the environment and ecosystem first. When the time arrives, I would say we could definitely connect to each other.”

Also Read – VeChain Price Analysis: VET Up by 11.5% as Binance.US Lists VeChain

SBI Holding’s Recent Joint Venture

Earlier this month, SBI holdings came together with CITA Co.Ltd, a blockchain business, and Hyakusho Market Co Ltd, Exporter of Japanese rice to set up a blockchain network to streamline the Japanese-US shipping process.

They announced that they will start a demonstration experiment related to information sharing and operational efficiency in the shipping process of rice produced in Ibaraki, a Japanese prefecture. The rice to be distributed by Hyakusho Market through the ‘Supply Chain platform’.

On the other side, Ripple’s native token XRP has plunged in contrast to the other altcoin. At the time of reporting this, XRP sits on the fourth largest spot on the graph of Coinmarketcap with a trading value of $0.200107. 

Final Note

The Ripple partnering Vechain via SBI holdings is no doubt a good sign for the crypto community. As the Vechain CEO notes that the Ripple-net payment system is mainly for its instant and cost-effective cross border payments and Vechain for their business. Therefore, the partnership could be the next big move for the Ripple and Vechain.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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