A top exec at Ripple, Emi Yoshikawa, welcomed the mayor of Japan’s Fukuoka city, Soichiro Takashima, to the blockchain firm’s headquarters along with a picture in the tweet saying,
“We welcomed Fukuoka City Mayor Soichiro Takashima and his team at Ripple HQ today! Fukuoka is a leading city in web3 initiatives in Japan. Today, Mayor Takashima of Fukuoka City and people from the international department visited the headquarters! I have high hopes for Fukuoka City, which is actively working on Web3.”
A few days ago, Japan’s largest money transfer provider SBI Remit announced that it will utilize RippleNet Technology to allow instant money transfers between Japan and Thailand.
“This makes it possible for 47,000 Thai nationals living in Japan to send money home faster. SBI Remit’s customers can use ATMs to instantly send money in JPY to a recipient’s SCB savings account in Thailand and receive funds in THB within seconds,” Ripple wrote in its PR.
In July 2021, the payment firm rolled out its first ODL service implementation in Japan, to expand its footprint in the Asia-Pacific [APAC], a key region for the firm. As per a report published in March 2022, Ripple saw a whopping 130% yearly basis growth in APAC Transactions.
The surge has been attributed to increased demand for quick settlements and immediate access to funds.
The launch comes at a time when the leading provider of enterprise blockchain and cryptocurrency solutions launched RippleNet’s On-Demand Liquidity [ODL] in Brazil with Travelex Bank, the first bank in Latin America to adopt the technology.
High Optimism Around Ripple Ecosystem
According to data analytics site Santiment, there has been notable whale activity, as well as high optimism, surrounding the Ripple ecosystem and the token XRP. Over 450 transactions carrying XRP worth over $100,000 each have been moving between wallets and exchanges in just 24 hours.
As disclosed by the market intelligence platform, the XRP network has tapped the largest amount of whale transactions in more than 3 months. The 13th of May was the last time this feat was achieved.
Additionally, sentiment is at its highest since April, the report read.