XRP along with BTC is now part of reward campaigns in a top Japanese bank called Shinsei Bank. According to reports, the newly launched initiative is available for both new and existing customers till Oct. 31.
Users can take home earnings of up to 8,000 Japanese Yen [$60] worth of XRP for availing various services on the platform that includes opening an account, first-time login into the Bank’s portal, making the first deposit, etc.
For instance, opening a new account will carry a reward of a 500 yen [$3.72] coupon. Conducting inter-bank transfers will allow a client to earn up to 2,500 yen [$18.86]. In addition to that, the cash coupons are redeemable in both XRP and Bitcoin [BTC].
Also, it is currently not specified if the Bank accepts any other cryptocurrency apart from XRP and BTC as a reward.
Nevertheless, the latest move is another step forward to expand crypto’s use cases in traditional legacy firms.
XRP Adoption Grows
One of XRP’s major backers- Ripple Labs has spread out largely in Asia, even being adopted by a well-known financial giant. SBI Holdings, a major financial services provider, announced that it renewed its XRP international remittance service using On-Demand Liquidity [ODL].
According to a press release, the international remittance service system powered by ODL has been developed into a multi-tenant system that can connect with several remittance-focused firms and crypto exchanges.
Furthermore, the Japanese financial services giant said it is planning to boost Ripple’s On-Demand Liquidity effectiveness in international and domestic remittance.
SBI’s tapping of the ODL service came a few hours after Ripple released its Q2 2022 financial report. Per the details, ODL adoption reached a peak in the second quarter of 2022, leading to the sale of $408.9 million worth of XRP.
Ripple, an Enterprise blockchain and crypto solutions provider has also joined hands with FOMO Pay. FOMO Pay is a prominent Singapore-based institutional digital payment solution provider and has become the latest firm to integrate with Ripple’s liquidity solution.
Through this integration, FOMO Pay is planning on using Ripple’s crypto-enabled enterprise technology which is supposed to enable its cross-border treasury flows.
