Breaking: Ripple Ally SBI Moves Beyond XRP Ledger, RippleNet For Cross-Border Payments

1 hour ago Updated 39 minutes ago

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Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

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Breaking: Ripple Ally SBI Moves Beyond XRP Ledger, RippleNet For Cross-Border Payments

Highlights

Ripple affiliate SBI Holdings has announced a new partnership with Fasset.
It looks to strengthen cross-border remittances using Fasset's stablecoin infrastructure.
This move hints at a shift from dependence over RippleNet and XRP Ledger technologies.

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Ripple partner SBI Holdings is venturing beyond the XRP Ledger (XRPL) and RippleNet for cross-border payments. It is now investing in creating alternative remittance channels via blockchain to enhance its payments strategy.

Ripple-Backed SBI Holdings Looks Beyond XRPL, RippleNet

The Japanese financial giant has made a strategic investment in UAE-based fintech firm Fasset. On Thursday, June 18, it announced that its remittance wing, SBI Remit, has signed a memorandum of understanding with Fasset. The MoU mentions the focus on discussing next generation international payment infrastructure.

The partnership reiterates SBI Holdings growing interest in expanding crypto services as it has embraced digital assets for nearly a decade now. Also, it has ventured into AI with a partnership with Anthropic earlier this month.

For context, Ripple and SBI Holdings launched a joint venture, SBI Ripple Asia, in 2016. Since then SBI Ripple Aisa has driven the adoption of cross-border payments using RippleNet in the Asia-Pacific region. Moreover, the collaboration has also played a major role in promoting institutional acceptance of the XRP Ledger and Ripple’s other payment solutions.

The recent announcement, however, indicates that SBI’s digital asset strategy is looking beyond the Ripple’s ecosystem.

Why Is The New Collaboration Important?

SBI Holdings’ new partnership will enable SBI Remit to explore stablecoin-based remittance services with Fasset. For this, SBI aims to use Fasset’s digital asset platform with over two million wallets and annual transactions of approximately $32 billion.

The company is also developing payment solutions across 16 blockchain networks and over 50 banking partners. This network could help SBI expand its cross-border payments push.

The deal comes within months of SBI Ripple Asia’s efforts toward XRPL. The company registered as a Japanese third-party prepaid payment instrument issuer recently. Further, in April 2026, it completed developing a token issuance platform that leverages the XRP Ledger.

The platform allows companies to launch digital tokens on XRPL and comply with regulations in their area. That launch was considered another step towards the viability of Ripple’s technology in Japan. Moreover, in the region, SBI has already been a long-time supporter of XRPL-powered financial solutions.

Amid this backdrop, SBI’s investment in Fasset is a massive step towards building out SBI’s payments with blockchain strategy. Instead of exclusively depending on the infrastructure of RippleNet and XRPL, SBI seems to be taking a multi-network approach. With this, it can also implement stablecoin settlement rails while still leveraging Ripple’s tech.

Meanwhile, in a separate update, the Japanese conglomerate also launched Solana trading and custody services.

For those looking for new crypto launches, check out our page on Crypto ICOs.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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TAGS
Ripple
XRP

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.