One of the most prominent and firsts conglomerate to have shown interest in cryptocurrencies has been the SBI holdings of Japan. From launching a few businesses around cryptos and being a strong partner to companies like Ripple, SBI holdings have made its mark in the crypto world. Hence its predictions on crypto markets can’t be left unheard where the CEO of the company has been bullish in regards to a $10 Ripple throughout the entire year.
Can Ripple be a top coin for 2019?
Yoshitaka Kitao – the President and Representative Director of SBI Holdings, has been a real supporter of Ripple and has spoken publicly a few times that how the coin is much better than many other frontline cryptos when it comes to value forecasting of the coin.
In its recent Q&A with media, Yoshitaka Kitao said XRP is dominating international expansion and will become global in the future.
SBI Holdings is a great partner of Ripple (XRP). It has Laos been in a joint venture with the US-based distributed ledger technology company R3 to establish SBI R3 Japan. This company also plans to use XRP to be utilized for international remittances via its Settler platform.
A few days back Kitao was also reported saying that he believes that in 2019, Ripple (XRP) will exceed the market cap of Bitcoin (BTC).
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
Great Partnership the ladder for success for XRP
While SBI has reasons to be bullish, Ripple in itself has been progressing great with its partnerships with leading financial institutions. The coins real-time use is something that makes SBI Holdings even more confident on the coin. The recent affirmation of Ripple CEO’ Brad Garlinghouse, that a ton of banks will use the products of Ripple by 2019 shows the partnership strengths and the prowess the coin commands which could make XRP a preferred partner for settlement specialist co-ops and monetary establishments.
Apart from the leading banks in the advanced nations such as the US, Japan, and Europe, Ripple has been able to make inroads in the Middle Eastern banks and financial institutions as well. The company has partners like National Bank of Kuwait and Saudi Arabia’s largest Islamic bank Al-Rajhi along with Kuwait Finance House. It has also formed great partnerships in Israel with the largest financial services firm there called GMT and has also with AkBank and Turkey.
With all fundamentally in favor of XRP, the question still lies in the minds of investors, is what would be the inflection point when the coin will start rising again. Will it be 2019?
Will 2019 be the year for rising of XRP? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.