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Japanese financial giant SBI has announced that it will promote the use of the XRP Ledger in the Web3 community through a strategic partnership via its digital community arm. This information was provided in an official release communicated in Japanese, dated Aug. 13, 2024.

Through the strategic partnership, SBI aims to increase the opportunities for individual users to use the XRP Ledger through the "Bto3" Web3 community, hosted by SBI Digital Community, as well as to popularize XRP Ledger.

Bto3 will issue non-fungible tokens (NFTs) on XRP Ledger and will provide support to users on how to purchase and trade NFTs on XRP Ledger.

SBI will use xrp.café, a marketplace that specializes in the distribution, purchasing and selling of XRP Ledger NFTs, as an issuing platform. Furthermore, creators and other community participants will be able to receive rewards in the cryptocurrency XRP based on their requests.

SBI backs XRP Ledger

This move from SBI Holdings represents a significant vote of confidence in XRP, believing that its adoption of NFTs on XRPL is a method of supporting emerging technologies that have the potential to take off in the future.

At the start of the year, the Japanese financial giant announced plans to issue a non-fungible token (NFT) on XRP Ledger (XRPL), specifically designed for the upcoming EXPO 2025 in Osaka, Japan. SBI will join a consortium with SMBC Group, Resona Group and Mitsubishi UFJ Financial Group to operate the "EXPO2025 Digital Wallet."

As of July 1, Ripple VP Emy Yoshikawa hinted that SBI had begun minting XRPL-based NFTs for the 2025 World Expo in Japan.