In a significant move set to reshape cross-border payments in Southeast Asia, SBI Remit—the remittance arm of Japan’s financial and venture capital giant SBI Holdings—has launched a joint venture with Ripple. The newly formed entity, SBI Ripple Asia, will roll out Ripple’s XRP-powered remittance solution to bank accounts in the Philippines, Vietnam, and Indonesia starting in September 2025.
This strategic expansion builds on a long-standing partnership between SBI Remit and Ripple, dating back to 2017. Now, with the support of cross-border payment provider Tranglo, the collaboration aims to deliver faster, cheaper, and more scalable international money transfers across key Asian markets.
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How Ripple’s XRP Powers Faster Cross-Border Transfers
At the heart of this initiative is Ripple Payments, a blockchain-based solution that leverages XRP as a bridge currency between fiat currencies. Traditionally, international remittances rely on slow and costly correspondent banking networks. Ripple’s technology replaces this outdated model by enabling real-time settlement through XRP.
Here’s how it works:
- A customer in Japan initiates a transfer via SBI Remit.
- The Japanese yen is converted into XRP and transmitted across RippleNet almost instantly.
- Upon arrival in the destination country, XRP is converted into the local currency—such as Philippine pesos, Vietnamese dong, or Indonesian rupiah—and deposited directly into the recipient’s bank account.
This method eliminates the need for pre-funded nostro accounts and reduces settlement time from days to seconds, all while cutting transaction costs significantly.
Since 2021, SBI Remit has been a pioneer in Japan for adopting XRP-based remittances. Initially focused on sending funds from Japan to digital wallets in the Philippines, the service now expands to include direct bank-to-bank transfers in three major Southeast Asian economies.
Tranglo plays a crucial role in this ecosystem by handling the final leg of the transaction—ensuring compliant, reliable disbursement to local banking systems in each target country.
Strategic Expansion Amid Regulatory Clarity
The timing of this expansion is no coincidence. After years of legal uncertainty surrounding XRP’s classification in the U.S., Ripple has gained significant momentum following favorable developments in its ongoing litigation with the Securities and Exchange Commission (SEC).
A pivotal court ruling determined that XRP is not inherently a security when sold to retail investors, providing much-needed clarity for institutional adoption. This regulatory progress has empowered Ripple to reignite partnerships with financial institutions across the globe.
Japan’s SBI Group has stood firmly behind Ripple throughout the legal battle. Under the leadership of CEO Yoshitaka Kitao, SBI has publicly affirmed that XRP qualifies as a cryptocurrency under Japanese law and does not fall under securities regulations—a stance that reinforces confidence in the asset’s legitimacy.
With this foundation of trust and growing regulatory acceptance, Ripple is aggressively expanding its global footprint. Recent moves include:
- Acquiring Fortress Trust, which granted Ripple money transmission licenses in eight U.S. states.
- Launching a Central Bank Digital Currency (CBDC) platform in partnership with nations like Palau, Bhutan, and Montenegro.
- Deepening alliances with established financial players like SBI Holdings to scale real-world use cases for blockchain technology.
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Why Southeast Asia Is Key to Ripple’s Growth Strategy
Southeast Asia represents one of the most dynamic remittance corridors in the world. According to the World Bank, the region received over $140 billion in remittances in 2024, driven by millions of overseas workers sending money home.
Countries like the Philippines, Vietnam, and Indonesia are ideal markets for blockchain-based remittance solutions due to:
- High reliance on foreign income
- Large unbanked or underbanked populations
- Fragmented financial infrastructure
- Demand for low-cost, fast transfer options
By integrating Ripple’s ODL (On-Demand Liquidity) service through SBI Ripple Asia, these nations gain access to a modern financial rail that bypasses traditional inefficiencies. For migrant workers and families alike, this means faster access to funds, lower fees, and greater financial inclusion.
Moreover, direct integration with local bank accounts—rather than digital wallets alone—marks a major step toward mainstream adoption. It allows recipients to seamlessly use transferred funds for daily expenses, bill payments, or savings without needing additional conversion steps.
Core Keywords Driving This Transformation
This initiative highlights several critical themes shaping the future of finance:
- XRP remittance
- Cross-border payments
- Blockchain remittance
- On-Demand Liquidity (ODL)
- SBI Ripple Asia
- RippleNet
- Fintech innovation
- Digital asset adoption
These keywords reflect both user search intent and industry trends, underscoring the growing demand for efficient, transparent, and accessible global payment systems.
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Frequently Asked Questions (FAQ)
Q: What is SBI Ripple Asia?
A: SBI Ripple Asia is a joint venture between Japan’s SBI Holdings and Ripple Labs. It focuses on expanding XRP-powered remittance services across Asia, starting with bank transfers to the Philippines, Vietnam, and Indonesia.
Q: How does XRP speed up international money transfers?
A: XRP acts as a digital bridge currency. Instead of relying on slow correspondent banks, funds are converted into XRP and settled instantly across borders before being exchanged into local currency—reducing transfer time from days to seconds.
Q: Is XRP considered a security?
A: In a landmark U.S. court decision, XRP was ruled not to be a security when sold to retail investors. Japan’s financial regulators also recognize XRP as a cryptocurrency, not a security.
Q: Can I send money directly to a bank account using this service?
A: Yes. Unlike earlier models that required digital wallets, SBI Ripple Asia enables direct deposits into recipient bank accounts in supported countries.
Q: Why are the Philippines, Vietnam, and Indonesia chosen first?
A: These countries have high volumes of inbound remittances, growing digital finance adoption, and strong demand for affordable cross-border transfer solutions—making them ideal for blockchain-based services.
Q: What role does Tranglo play in this partnership?
A: Tranglo handles the local payout process, ensuring secure and compliant delivery of funds from RippleNet to recipient bank accounts in each country.
Looking Ahead: A New Era for Global Remittances
The launch of SBI Ripple Asia signals more than just a regional expansion—it represents a broader shift toward decentralized, efficient, and inclusive financial infrastructure. As regulatory clarity improves and real-world applications grow, digital assets like XRP are transitioning from speculative instruments to essential tools in global commerce.
For users in Japan and across Southeast Asia, this means greater control over their finances, reduced dependency on legacy banking systems, and faster access to life-changing funds.
With strong partnerships, proven technology, and increasing institutional support, Ripple continues to lead the charge in redefining how money moves around the world—one border at a time.